Is Rhino better than a security deposit?

Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as low as $4 per month, and Rhino insures the property owner for damages that might occur and lost rent.

How Say Rhino Helps Landlords and Renters

Is Rhino a real company?

Rhino is a licensed insurance agency in 48 states, and it's available for landlords and property management companies with rental apartments and rental homes.

Does Rhino give you your money back?

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.

Can you cancel Rhino?

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 sure deposit a good idea?

Lower upfront cost: You don't need to put as much money down upfront, which can open many more doors (literally) for rental options. Covers the length of the lease: As long as you hold up your end of the financial agreement with your landlord, you won't owe anything when it's time to move.

What does Rhino mean in real estate?

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. Using Rhino frees up renters' cash so that they can afford renters insurance and other moving expenses.

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How much is Rhino NYC?

You can pay as low as $3-$5 a month for a rental that costs $1,000 per month or around $25 for a rental that charges $3,000 a month. Rhino is a traditional insurance model, which means that tenants pay a monthly fee and Rhino reviews damage claims. The actual fee is determined by an algorithm, just like LeaseLock.

What happen if the damage is higher than the security deposit?

If the damages exceed your security deposit, your landlord might have two options, depending on your state's landlord and tenant laws. First, they could sue you. Second, they could send you an itemized bill for the repairs.

Does Rhino save you money?

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 1.6 million homes, and we have saved renters over $500 million in cash.

What kind of company is Rhino?

Rhino is a licensed insurance agency that transacts insurance and gives renters financial alternatives to afford the homes they want. It is a smart alternative to security deposits and acts as a general agent for one or more insurance carriers. Rhino was founded in 2017 and is headquartered in New York, New York.

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Is Rhino better than a security deposit?

Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as low as $4 per month, and Rhino insures the property owner for damages that might occur and lost rent.

Can you cancel Rhino?

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.

Can I get a refund from Rhino?

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.

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Does Rhino give a security deposit back?

Do I get my payments back at the end of the lease like a security deposit? Rhino replaces the need for a large security deposit and your 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.

Is Rhino better than a security deposit?

Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as low as $4 per month, and Rhino insures the property owner for damages that might occur and lost rent.

Does Rhino affect credit?

Any renter can use Rhino as long as they have been approved to rent at a partnered property. If your application to the property was approved, you can enroll for Rhino coverage. Rhino does a soft credit check to help determine pricing. This credit check does not affect your score.

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Does Rhino give you your money back?

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.

Does Rhino affect credit?

Any renter can use Rhino as long as they have been approved to rent at a partnered property. If your application to the property was approved, you can enroll for Rhino coverage. Rhino does a soft credit check to help determine pricing. This credit check does not affect your score.

Is Rhino better than a security deposit?

Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as low as $4 per month, and Rhino insures the property owner for damages that might occur and lost rent.

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What is deposit free Rhino?

Rhino Insurance lets you avoid putting down a security deposit when you rent an apartment. If your landlord accepts Rhino, you can skip the security deposit and pay a low monthly fee instead. Rhino allows renters to have more cash on hand for other expenses like renters insurance.

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