FAQs
TENANTS
WHAT IS 12CHEQUES?
12Cheques aim, is to solve one problem: allowing tenants to pay rent monthly, instead of paying rent in advance.
Our mission is to reduce the financial pressure on tenants when they move,
and replace the traditional 1 cheque (12months rent in advance),
2 cheques (6 months rent in advance)
or 4 cheques instalment (3 months of rent in advance) landlords usually request.
Our mission is to reduce the financial pressure on tenants when they move,
and replace the traditional 1 cheque (12months rent in advance),
2 cheques (6 months rent in advance)
or 4 cheques instalment (3 months of rent in advance) landlords usually request.
HOW DOES IT WORK?
12Cheques provides landlords a rental guarantee for 3 months rent in case of rental default by the tenant.
This allows extended security and protection for the landlord so that they feel comfortable accepting monthly rent payments.
This allows extended security and protection for the landlord so that they feel comfortable accepting monthly rent payments.
HOW MUCH DOES IT COST?
12Cheques rental guarantee costs only 2% of your annual rent plus VAT and 100 AED administrative fee.
HOW DO I APPLY?
The application is very quick and 100% digital by clicking APPLY NOW on our platform 12Cheques.ae.
The application consists of a personal detail form to fill out, along with some personal documents to upload.
Approval takes 24 hours.
The application consists of a personal detail form to fill out, along with some personal documents to upload.
Approval takes 24 hours.
HOW LONG IS THE RENTAL GUARANTEE VALID?
12Cheques rental guarantee is valid for 12 months from the starting date mentioned on your rental guarantee certificate.
WHEN DOES IT START?
It begins on the starting date mentioned on the rental guarantee Certificate which usually is the same date as the beginning of your tenancy agreement.
WHAT HAPPENS AFTER ONE YEAR?
After one year, the rental guarantee expires. You can renew your annual contract by re-applying online.
DO I PAY MY RENT TO 12CHEQUES?
You pay your rent directly to your landlord or through your agent.
WHAT DOES THE RENTAL GUARANTEE LOOK LIKE?
The rental guarantee is an electronic certificate tsent to you via email.
A copy will be sent to your landlord and to your letting agent (if any), in addition.
A copy will be sent to your landlord and to your letting agent (if any), in addition.
DO I REMAIN LIABLE TO PAY MY RENT?
As a tenant, you remain fully liable to pay your rent.
In case of rent default, you will be responsible to reimburse any rent arrears awarded by the Rental Dispute Center.
In case of rent default, you will be responsible to reimburse any rent arrears awarded by the Rental Dispute Center.
WHEN SHOULD I APPLY FOR A 12CHEQUES RENTAL GUARANTEE?
Apply today. Whether in an existing lease or applying for a new one.
If you haven't found your new home yet, you can also download our Eligibility Certificate,
which is completely free and will increase your chances as a solid candidate in your research
If you haven't found your new home yet, you can also download our Eligibility Certificate,
which is completely free and will increase your chances as a solid candidate in your research
DO YOU GUARANTEE ALL TENANCY AGREEMENT?
12Cheques rental guarantee is for residential properties exclusively.
It is only accepted for annual tenancy contracts.
It is only accepted for annual tenancy contracts.
WHAT IS THE ELIGIBILITY CERTIFICATE?
The Eligibility Certificate allows you to be pre-approved for a 12Cheques guarantee,
and gives security to the landlord to verify you as a 'safe' renter.
It is completely free and the application process is very quick.
and gives security to the landlord to verify you as a 'safe' renter.
It is completely free and the application process is very quick.
WHAT IF MY AGENT DOESN'T KNOW ABOUT IT?
12Cheques works with most agents in Dubai but it is possible we haven't met yet.
Put us in touch with your broker by sending us his name and phone number or email at info@12cheques.ae, we'll be happy to talk to them.
Put us in touch with your broker by sending us his name and phone number or email at info@12cheques.ae, we'll be happy to talk to them.
LANDLORD
WHAT IS 12CHEQUES?
12cheques is a a digital platform introducing landlord to the #1 rental guarantee in the UAE.
Our mission is provide a seamless experinece introducing landlords to the greatest security on rent
so you can feel comfortable offering your property on more flexible terms.
Our mission is provide a seamless experinece introducing landlords to the greatest security on rent
so you can feel comfortable offering your property on more flexible terms.
HOW DOES IT WORK?
In case of rent default, our rental guarantee will cover you up to 3 months rent
allowing you to accept monthly payment while providing the same security as having 4 cheques in your hand.
Your tenant applies directly online in just a few clicks and we conduct a thorough screening to assure you the best candidate for your property.
allowing you to accept monthly payment while providing the same security as having 4 cheques in your hand.
Your tenant applies directly online in just a few clicks and we conduct a thorough screening to assure you the best candidate for your property.
HOW MUCH DOES IT COST?
Our rental guarantee costs 2% +VAT and 100 AED admin fee. This premium is usually paid by the tenant ad therefore it is is completely free for landlords
HOW LONG IS THE RENTAL GUARANTEE VALID?
The rental guarantee is valid for one year from the starting date on the Certificate, which coincides with the beginning of your rental contract.
WHAT HAPPENS AFTER ONE YEAR?
After one year, our rental guarantee simply expires, which means that the rental guarantee is no longer valid. You then have the option to rent your property without a rental guarantee or request your tenant to apply for another year.
WHO COLLECTS RENT?
We do not interfere in the rent payment process. Your tenant pays directly his rent to you or your property manager, the same way you do now.
WHAT DOES THE RENTAL GUARANTEE LOOK LIKE?
The rental guarantee is issued as an authentic electronic Certificate that you will receive via email. It contains all relevant information in regards to the tenancy agreement it is linked to.
WHO IS 12CHEQUES
12Cheques is a technology company that aims at solving the lack of trust and changin the way people rent today, making the rental market a lot more efficient. Introducing the first rental guarantee in the UAE and state of the art scoring methodology, our vision is to become landlords greatest security partner to provide enough comfort to accept more flexible instalments, therefore renting a lot better.
WHO IS ISSUING THE RENTAL GUARANTEE POLICY?
The 12Cheques rental guarantee is issued by Alliance Insurance PSC, one of the leading insurance company in the UAE. The product is regulated and approved by the Central Bank of the UAE.
DO YOU GUARANTEE ALL TENANCY AGREEMENT?
Our rental guarantee is valid only for residential contract in Dubai registered with EJARI. If you are located in another Emirate and wish to know more, please contact us at info@12cheques.ae
HOW DO I START OFFERING 12CHEQUES TO MY TENANTS?
It is very easy to offer the 12Cheques rental guarantee to your tenants. Simply click here and follow the easy 3 steps process
WHAT IS COVERED BY THE 12CHEQUES RENTAL GUARANTEE
Our rental guarantee covers rent loss exclusively up to a maximum of 3 months of rent. Intrests and administratvie costs associated can be covered as well f the total does not exceed 3 months rent.
WHO CAN USE 12CHEQUES
Any individual with valid establishment document in the UAE can apply to use 12Cheques. Upon verification of the application, we will decide to approve or not the candiate based on our risk assessment.
WHAT HAPPENS IF A TENANT DEFAULTS ON RENT?
If a tenant defaults on rent, we request a court order from the Rental Dispute Center in order to settle the claim. Once enforced, you can send it to us with a few supporting documents and our insurance partner will pay you up the maximum amount on your rental guarantee. Our dedicated recovery team will then recover the money directly from your tenant.
HOW DO I NOTIFY A CLAIM?
You can notify a claim by simply going to "Notify a claim" on our website. You will be requested a few informations and documents about your claim so we can process it swiftly.
HOW LONG DOES IT TAKE TO GET A CLAIM PAID
Once a court order is issued, we pay you within just a few of days of receiving the requested documents.
WHAT IS THE CLAIM SETTLEMENT PROCESS?
Claims are adjudicated by the Rental Dispute Center in Dubai.
WILL A 12CHEQUES GUARANTEE ATTRACT A DIFFERENT TYPE OF TENANT
Yes it will. By offering more flexibility, you will attract a much greater pool of tenants that wish to rent your property monthly, driving a lot more interest in your property.