Rhino can provide an increased amount of coverage on a renter’s apartment to help them get approved. In this case, Rhino would be acting as a third-party guarantor, increasing the chances that you will be approved for the lease.
What is increased coverage?
Rhino provides a specific amount of coverage on an apartment. In most cases, this coverage amount is equivalent to the cost of a security deposit.
If a resident needs a guarantor, the amount of coverage being provided can be increased to meet the requirements of the property. An increase in required coverage will increase the cost of the policy.
Property management is entirely in control of determining the required coverage amount, based on each applicant.
How to get guarantor coverage for a resident:
- Residents will need to enroll via an invitation in order to get guarantor coverage.
- When inviting a resident to Rhino, be sure to include the exact required coverage you will need to approve them.
- Coverage can be adjusted after enrollment is complete, but increases to coverage will cause an increase in price.
A renter should contact their property manager about guarantor coverage.