What:
Rhino, the NYC-based insurtech company that pioneered security deposit insurance, has automated the employment and income verification process for renters.
Why:
Help renters share limited financial information and receive accurate prices to satisfy their security deposit while protecting landlords from excessive damage and lost rent.
How:
- With Rhino’s enhanced renter experience, renters can securely authenticate their bank account information for Rhino to confirm their employment and income status when calculating their monthly premium.
- Rhino’s security deposit insurance acts as a direct replacement for a cash security deposit.
- Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as little as $5 per month, and Rhino insures the property owner for damages that might occur and lost rent.