With a traditional deposit, residents pay a large sum in advance, before there’s any actual reason for charging such an amount. With Obligo, residents only pay for damages or missed rent if your property submits a charge at move-out.
It’s similar to a traditional deposit in that:
It gives you incentive to take good care of your apartment, because you’re still accountable if there are damage or missed rent charges.
It preserves your property manager's ability to get cash instantly, as soon as a charge is submitted, as if they had a cash deposit.
It preserves your right to dispute charges directly with your property or via a small claims court.