AECB Launches Tenant Screening Service to Secure UAE Rental Market

The Al Etihad Credit Bureau (AECB) has launched a digital tenant screening service across the UAE, enabling landlords to access the credit history and payment behavior of prospective renters. The move aims to minimize financial risks for property owners and reduce the frequency of rental defaults and bounced checks in the real estate sector. Consent-Based Credit Checks To access the screening, landlords must enter the tenant’s Emirates ID and mobile number into the AECB mobile application. The process requires explicit consent from the tenant, who receives a notification via the app to approve or reject the data request. Once authorized, the landlord receives a comprehensive report detailing the tenant’s credit score and history of financial obligations. The report includes a specific "Cheque Score," which predicts the likelihood of a tenant’s check bouncing within the next nine months. This metric is based on historical data from banks and utility providers, offering a statistical risk assessment before a lease agreement is signed. Costs and Market Impact The screening service is priced at approximately AED 105 (including VAT) for a full credit report with a score. Landlords can…