We hit the streets of NYC to find out what renters would do with their savings if they could skip paying a security deposit!
See what they said & learn how you can get your deposit back:
What did these renters in Union Square in New York City say they would do with their savings?
– “I would probably use it for groceries.”
– “Buy clothes and Starbucks. Treat myself!”
– “I’d use it for another month of rent.”
– “Vacation – Italy!”
– “Probably put it towards credit card debt.”
– “Pay the rest of my bills. Buy wine and really good cheese.”
– “I’m trying to have Kids. So, probably use the money for children…”
– “I would invest it. I would use the money towards something that would benefit my life or my apartment.”
– “I’d put it in my savings. I don’t know how to invest money, so I’ll put it in my savings.”
– “Those grad school loans are starting soon, so…”
– “Put it toward the next month’s rent!”
– “I would probably invest it into the space that I’m about to live in!”
How Does Obligo Work?
Rental properties partner with Obligo to allow qualified renters to skip paying a cash security deposit at move-in. Current renters can also use Obligo to apply their existing security deposit to rent.
To live deposit-free, renters simply provide a payment method through the Obligo platform. If there are damages or missed rent at the end of the lease, your property manager will be authorized to charge this payment method – up to the stated amount of security requirement – and you will be billed by Obligo.
Obligo is not an insurance product. You’re still accountable for any charges, but Obligo does offer the ability to repay charges in interest-free installments. Just like a traditional deposit, you also maintain the right to dispute charges directly with your property manager.
Obligo charges a fee for our service (a small percentage of your rental’s security requirement), and you can then use your deposit money where it will generate the most value for you, whether that’s repaying debt, making an investment, furnishing your rental, or just treating yourself!
Find out how you can get your deposit back today!