UAE Credit Scores to Reflect Rent and Property Payments Soon

Currently, credit scores have traditionally been determined by factors such as loan and credit card repayment histories, along with the punctual payment of utility bills. However, a significant change is set to happen soon. The Etihad Credit Bureau is preparing to expand its credit scoring system to include property-related payments, such as Rent and Service Charges. This development reflects a growing emphasis on comprehensive financial responsibility, offering a clearer picture of an individual’s creditworthiness.
 

When Will the New System Be Put into Effect?
The new system will be introduced in phases. It will start by including rent payment data, then add service charge payments made by property owners. After that, payments from buyers of off-plan properties will also be considered.

 

What Owners and Tenants Should Do

• Make timely payments for rent, property instalments, and service charges to positively impact credit scores.
• Maintain a strong payment history to improve eligibility for loans and credit products.
• Practice financial discipline and careful budgeting.
• Build and preserve a solid credit reputation to support future financial opportunities.

What Owners and Tenants Should Avoid

• Avoid delays or missed payments, as these negatively affect credit ratings.
• Prevent poor payment records that may restrict access to loans and credit cards.
• Recognize that both owners and tenants share equal responsibility for making payments on time.

Timely payment of property-related dues is now crucial, as it directly impacts credit scores and financial opportunities. Both owners and tenants must stay responsible to maintain a strong credit profile and secure better access to loans and credit facilities.