Renters
Sep 07, 2021
Renter FAQ: How to rent with Rhino
KT Heins-Nagamoto
Is this your first time renting? Third-time renting? Or have you lost count of how many times you’ve moved?
No matter how many times you’ve rented before, the process of renting a new place is tough. Base rent is rising in most major American cities, making it competitive to find an affordable place. Plus, the upfront costs of renting a place really start to add up.
The move-in fees for applying for an apartment can include:
Application fee
Administration fee
Security deposit
First (and last) month’s rent (only in some states)
Keycard or remote fee
Pet deposit/fee
At Rhino, we believe that these upfront costs shouldn’t keep you from applying for the perfect place, and that all renters deserve more control over their money. That’s why we offer security deposit insurance, an alternative to the traditional cash security deposit that could potentially save you thousands of dollars when renting.
What is Rhino security deposit insurance exactly?
The major downside of choosing to pay a cash security deposit is that it can typically cost you thousands of dollars out of pocket. Most renters don’t have that kind of cash on hand, and even if they do, they would rather put that money toward their move. Sure, you can get some or all of the security deposit back after you move out, but renters often have to fight to get their security deposit back.
Security deposit insurance replaces the cash deposit, but still protects the rental unit from damage and unpaid rent. Unlike renters insurance, security deposit insurance doesn’t protect your personal belongings, but the home itself for the owner.
When a renter chooses to use Rhino Security Deposit Insurance, the renter pays small monthly payments as low as $4 per month* instead of paying a cash deposit.
Your monthly payments won’t be refunded, but renters who use Rhino save on average $1,000 dollars upfront when they move into a new apartment. That’s more money for necessities like groceries, new furniture, childcare, or even investments. What a relief.
How do I rent with Rhino?
It takes just minutes to enroll with Rhino. Already found a place? Simply provide us with your future address and email to figure out if Rhino is available for your apartment.
If you’re still searching for your future home, it’s important to remember that Rhino is provided through your property owner or landlord, which means you can’t buy it without your landlord’s permission.
Whether you’re touring apartments and rental homes in-person or virtually, add Rhino to your checklist. All you have to do is ask the leasing agent or property manager if they offer Rhino Security Deposit Insurance. It’s as easy as asking about any other amenity. If the answer is yes, you can apply and enroll with Rhino on the same day with their assistance. If the answer is no, it’s time to find another option. After all, why pay a cash deposit when you could use Rhino?
Where can I find Rhino?
If you’re having trouble finding properties that offer Rhino, we’re here to help. Rhino is available at properties in major cities across 46 states, including:
Don’t see your desired location listed here? Check back as we’ll be updating this list as we highlight more and more of our best properties on the blog.
Or you can cut to the chase and contact our support team. Provide the zip code where you intend to move, and our team will send some information to start your search.
What’s next?
Congrats, you’ve completed your first crash course on Rhino. When you opt for security deposit insurance offered by Rhino, you skip paying a hefty cash deposit and keep more money upfront which can help you move-in quicker. Rhino also gives you more control over your finances while renting a new place, helping you budget better to support yourself and your family.
Remember: All you have to do to get Rhino is ask your future landlord or a member of your property’s leasing team if they offer security deposit insurance. Or you can get a free quote for your current address. Now’s the time to join the future of renting.
Still have questions about Rhino? Contact us today.
*Pricing will vary by individual renter. Actual rates determined based on the specific information provided to Rhino. Monthly payment plans may not be available to all renters.
KT Heins-Nagamoto
KT Heins-Nagamoto is a senior brand writer at Rhino. They advocate for security deposit alternatives and renter rights in everything they write.