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How does Obligo’s deposit-free service work?
How does Obligo’s deposit-free service work?
Written by Alexandrea
Updated over a week ago

When you partner with Obligo, qualified renters can skip paying a security deposit at move-in and live deposit-free. Alternatively, qualified mid-lease residents can live deposit-free and apply their previously paid security deposit to rent.

Obligo charges renters a fee for our service, allowing them to keep their cash to invest, save, or spend! Our fee is based on the security amount and a few other factors.

Residents extend a billing authorization to Obligo via one or more payment methods, allowing you to charge them up to the security amount for damages, cleaning or missed rent.

If you submit a charge at move-out, our platform will initiate your ACH payment immediately and then collect the owed amount from your resident.

For property managers, Obligo powers a better resident experience, streamlines operations, and helps you comply with security deposit regulations.

Additionally, we can collect traditional cash deposits and other move-in payments electronically. Contact our team to find our more about these options.

Learn more about Obligo here.

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