Once an Obligo record is closed, our platform will immediately initiate ACH payment to property managers for any damage or missed rent charges, up to the Billing Authorization amount. Our automated billing process will then charge the renter's pre-authorized billing method (a credit card or bank account).
There is no claims process, so the advanced funds are guaranteed to your property. Obligo does reserve the right to review charges and/or pause charge payout in cases of suspected fraud or renter abuse.
Property owners and managers using Obligo’s service enjoy enhanced protection via our Bank Letters of Credit model, whereby Letters of Credit issued by Wells Fargo are available in the event of renter non-payment of charges.
Contact us to learn more about how we keep owners and managers fully protected.