Security Deposit With Rhino
Description
How to fill out Addendum To Apartment Lease Regarding Security Deposit?
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FAQ
The only time a resident will receive a refund of fees is if their policy is early-terminated due to not moving in or if they have paid a traditional security deposit directly to the property. At that time, any unused portion of their payment will be refunded.
In order for Rhino to act as your guarantor, you will need to understand how much coverage your property manager will need on your Rhino policy. Your property manager will review your personal application, and decide how much coverage they need on the home in order to approve you.
The person paying the security deposit would credit the asset account Cash and would debit the asset account Security Deposits. The person receiving the security deposit would debit the asset account Cash and would credit the liability account Security Deposits Returnable.
How does Rhino's guarantor coverage work? Our guarantor coverage offers security deposit insurance and additional coverage in lieu of having a guarantor co-sign your lease. We work with your property owner to make sure your guarantor coverage meets their requirements. What does the policy cover?
Our insurance works like a security deposit but at a fraction of the cost. Free up money at move-in and spend your cash on the things that are important to you.
