Should I use rhino security deposit?

Is Rhino better than a security deposit?

Rhino replaces the need for a large security deposit and your low monthly payments are not refunded at the end of your lease. Rhino fulfills the same requirement as a deposit, but at a fraction of the cost. In addition to paying for a Rhino policy in full at move-in, you can make payments in monthly installments.

Is Rhino a security deposit?

Instead of a large upfront cash security deposit, renters pay Rhino a small monthly fee, and Rhino insures the property owner for damages that might occur and lost rent. To date, we are offered in over 1 million homes, and we have saved renters over $300 million in cash.

Is Rhino deposit refundable?

Rhino policies can be canceled at any point during the life of the policy. If the coverage is no longer needed, Rhino can cancel your policy and issue any applicable refunds. A Rhino policy can be canceled only if the renter and property agree that coverage is not needed.

Is Rhino a third party guarantor?

Can Rhino be my guarantor? Yes, Rhino policies can also provide lease guaranty for renters that need it.

What’s the catch with Rhino?

With Rhino, instead of paying a security deposit to your landlord, you pay about $5 to $10 a month for an insurance policy that covers your rental for damage or lost rent.

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How does rhino security deposit work?

Rhino is security deposit insurance that replaces the need for a traditional security deposit. Instead of a large upfront cash security deposit, renters pay Rhino a small monthly fee, and Rhino insures each home for the property owner in case of damages and lost rent that might occur.

What is rhino security deposit?

Rhino is a deposit insurance type plan that replaces security deposits. It allows us to market the properties as deposit-free. This makes it extremely enticing to tenants, especially in the multi-family market. Usually, that kind of market is extremely competitive with low or no deposit leasing at many complexes.

Where can I get help with a security deposit?

Where to get help with your security deposit

  • Nonprofit Organizations. There are a number of nonprofits that provide grants and assistance to low-income individuals, or individuals facing financial hardships. …
  • Local Government Organizations. …
  • Faith-based Charities. …
  • Security Deposit Guarantees. …
  • Earn extra money with odd jobs.

Does Rhino affect credit?

Rhino does a soft credit check to help determine pricing. This credit check does not affect your score.

How much does Rhino cost?

North America

Full – single-user*
Rhino 7 for Windows and Mac US$ 995
Flamingo nXt 5 495
Bongo 2 495
Upgrade** an old version – single-user*

How does rhino work as a guarantor?

In addition to Rhino’s security deposit insurance, we provide guarantor coverage. If you don’t qualify for a lease on your own, you can have someone (a friend, a parent, etc.) act as your guarantor and co-sign the lease with you, guaranteeing that timely rent payments will be made.

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How much is Rhino as a guarantor?

Rhino, which started in late 2017, has helped pioneer an insurance option: Tenants pay a nonrefundable monthly fee (about $13 for a $3,000-a-month apartment) instead of a deposit, and Rhino insures the apartment, paying the landlord for any damages.