Users can either be new or current renters – if you’re applying to live in a unit you can use Rhino’s service to avoid a security deposit in the first place, or if you’re a current renter at a Rhino-supported building you can sign up and get a full refund of the deposit you already paid.
Is Rhino security deposit refundable?
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.
How does Rhino deposit insurance work?
Rhino’s security deposit insurance acts as a direct replacement for a cash security deposit. Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as little as $5 per month, and Rhino insures the property owner for damages that might occur and lost rent.
Is Rhino security deposit safe?
With Rhino, properties are protected just like if they collected a cash deposit. When incidents happen, we handle all claims in-house and reimburse owners in an average of 4 days.
What is Rhino deposit replacement?
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.
How much does Rhino cost a month?
Rhino is security deposit insurance. Instead of paying the security deposit amount in cash at the time of the lease — renters pay a monthly fee to Rhino, averaging $5-10 a month — to cover the security deposit.
Can Rhino be used as a guarantor?
Can Rhino be my guarantor? Yes, Rhino policies can also provide lease guaranty for renters that need it. … When renters enroll with Rhino, we protect their unit the way a security deposit does. Renters are still responsible in the case of excessive damage or unpaid rent.
Are rhinos reliable?
In summary, Rhino is at least as accurate as any other CAD product on the market today. In addition, Rhino provides tools for setting accuracy and units and tools for controlling and evaluating continuity not found in most CAD products.
What is a zero deposit waiver?
Residents at Zero Deposit communities don’t need to pay a deposit upon move-in — instead, they pay a small monthly deposit waiver fee alongside rent, to the property.
What is security deposit replacement?
In a nutshell, deposit replacement schemes are services taken out by either tenants or letting agents to provide protection to the landlord against any potential breaches of the tenancy agreement. In most cases the tenant pays a non-refundable fee instead of a traditional deposit of five or six weeks’ rent.
What is Rhino 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.