Rhino, which pioneered security deposit insurance in 2017 and now services a six million home partner network, has launched of a community on Rhino+, the rental industry’s first end-to-end deposit management and compliance platform, the company said.
Renters at properties across the United States will have a seamless, digital experience to satisfy their security deposit requirement via their choice of a cash deposit or Rhino’s security deposit insurance, the company said. Rhino+ addresses the growing demand from landlords and property managers to reduce the friction presented by security deposits and associated compliance challenges in markets across the country.
“The process for security deposits has been a thorn in the side of property owners and renters alike for decades,” said Rhino co-founder and CEO Paraag Sarva. “Rhino+ is the first digital security deposit platform for owners and operators who want faster leasing, automated compliance and affordable deposit options. And renters can forgo cashier’s checks and have the type of digital-first experience they expect of any transaction.”
The launch of Rhino+ follows the company’s recent announcement of Credit+, a service that helps renters build credit through on-time rent reporting, as well as Rhino’s acquisition of Deposify.
