Question: What does deposit free with Rhino mean?

What is Rhino deposit?

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’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.

What does deposit free mean?

Instead of handing over a deposit you pay an initial fee equal to one week’s rent, which isn’t refundable.

How much does Rhino guarantor cost?

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.

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.

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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.

Does Rhino give 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.

What is rhino horn used for?

It is used in traditional Chinese medicine to cure a range of ‘ailments’ from cancer to hangovers, and also as an aphrodisiac. The horn, which is shaved or powdered and dissolved in boiling water, is used to treat fever, rheumatism, gout and other diseases. Possessing a rhino horn is considered a status symbol.

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.

Is Reposit better than deposit?

More coverage than a cash deposit

The Tenant Fees Act 2019 introduced a five weeks’ cap on security deposits. With Reposit, landlords receive 8 weeks’ worth of guaranteed cover, which offers the same type of property protection as a deposit.

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Should I use zero deposit?

Zero Deposit certainly fills a need as it removes the challenge of renting if you don’t have a lump sum for a deposit. However, there is a cost. Tenants have to pay for the guarantee with a week’s rent, per property, which is non-refundable.

Can you rent without a deposit?

A Zero Deposit Guarantee replaces the traditional security deposit. Zero Deposit renting is faster and more affordable for tenants and means that you can move into the home you love without putting down an expensive five week cash deposit.