This past May, Andrew Cuomo, Governor of New York, pushed through legislation to extend the eviction ban through August 20th. Cuomo also introduced an option for tenants to cover rent payments with their security deposits. Forbes calls attention to the benefits of security deposit alternatives, allowing renters to put their hard-earned cash back in their bank accounts.
Obligo, founded in 2018 by brothers Roey and Omri Dor, rids both landlords and renters of the burden of security deposits, lowering costs, increasing cash flow and simplifying the move-in process. Owners and managers use Obligo to streamline their operations, comply with changing regulations, make their listings more appealing to renters, and incentivize renewals.
As the only non-insurance deposit alternative, Obligo’s credit-based solution keeps landlords secure and renters accountable by combining Open Banking technology with AI-based underwriting and collection capabilities. Since launching our fintech solution, Obligo has established partnerships with leading US property managers in the multifamily, single family, student housing, and workforce rental housing markets.
Interested? Schedule a demo with us today!