With a traditional deposit, residents pay a large sum in advance, before there’s any actual reason for charging such an amount. With Obligo, they only pay for damages or missed rent if you submit a charge at move-out.
It’s similar to a traditional deposit in that:
It gives residents incentive to take good care of their rental unit, because they’re still accountable if there are damage or missed rent charges.
It preserves your ability to get cash immediately, as soon as a charge is submitted, as if you had a traditional cash deposit.
It preserves resident rights to dispute charges directly with you or via small claims court.
Deposit-free properties are quicker to lease, easier to manage, and more attractive to residents. You will save hours on administrative tasks, and your residents will appreciate keeping the cash to invest, save, travel, or spend as they please.
Learn more about Obligo here.