What’s the difference between Jetty Deposit and Rhino’s Security Deposit Alternative?
As Rhino and Jetty come together under one unified platform, you may see both Jetty Deposit and Rhino Security Deposit Alternative referenced in your partner portal. Here's what you actually need to know.
Both products work the same way at a high level: they provide renters a flexible way to replace the large up-front cash barrier of a traditional security deposit with a low-cost, non-refundable policy, and residents remain responsible for damages and unpaid rent either way — just as with a traditional cash deposit.
For your properties, that means helping units lease faster while reducing your exposure to bad debt.
You'll continue to service all claims on pre-existing Jetty Deposit policies in the Jetty Portal, but all new policies can be managed in your new Partner Portal.
Key differences at a glance
Category |
Jetty Deposit |
Rhino SDA (GL Deposit) |
|---|---|---|
Market Availability |
All states except IN |
All states except HI, MT, ND, WY |
PMS Integration |
RealPage / Yardi / Entrata |
RealPage / Yardi Coming soon: Entrata |
Underwriting Method |
Based on a credit score model |
based on multiple criteria including but not limited to credit score, income, location, past rental history, education, and employment history |
Renter Application Flow |
Purchase is allowed without a PMS match upfront; the renter is matched to their PMS record after purchase completes |
The renter must be identified and matched to their PMS record before purchase is allowed — this upfront match protects against claim disputes at lease-end |
|
Renter Application Requirements
|
Renters will be asked to enter their property address, move in date, required coverage and SSN when applying for Jetty Deposit. |
Renters may be asked to provide their social security number, date of birth, income information, and employment status when applying for Greenlight Deposit. |
What’s covered by the policy? |
Loss of rent and damages as long as they’re supported by the documentation and lease provided
|
Loss of rent and damages – the bond terms govern, not the lease, and named exclusions apply (e.g., normal wear and tear, accelerated rent, turnover/admin charges) |
Coverage Amount |
Equal to the security deposit amount, entered by the renter or pre-filled by the partner (minimum $500), capped at 2x the rent amount. |
0.1x–2x monthly rent, set as a dollar amount tied to the security deposit — read automatically from your PMS (Yardi/RealPage), so there's no manual entry needed. Tip: Follow up with us to ensure your renters are purchasing the right coverage from the start! |
Payment Structure |
Upfront, or monthly if eligible (not available in CA); non-refundable premium. Monthly plans include a $2/month servicing fee *Monthly payments continue until the resident moves out (or up to 19 months in TX and NY) |
Upfront, or monthly if eligible; non-refundable premium. Service fee of $11.99–$19.99 (varies by state), plus a processing fee of ~2.92% of the total cost |
Unit Transfers |
Coverage transfers with the resident to a new unit in the same community — no new bond needed, but the leasing team must notify Jetty of the change |
The unit on a policy can be updated at any time. If that update includes a change to the street address, it's sent for internal review first — if approved, the address is updated; if not, the policy must be canceled and repurchased under the new address |
Policy Cancellations |
Property has 15 days to respond to a cancellation request before it auto-processes |
Property has 7 days to respond to a cancellation request before it auto-processes |
Renewal Model |
Policy stays in place for the full tenancy — no re-enrollment, no new bond at lease renewal, no renewal fees |
Policy auto-renews annually 15 days before the coverage-end if the renter is in good-standing with Rhino (no outstanding payments/claims). A renter in bad-standing with Rhino will not be offered a renewal until debts are resolved — so you're never stuck extending coverage for a renter with unresolved debt. |
Coinsurance |
Optional, credit-tiered coinsurance can apply at claim payout |
No coinsurance — an applicant may be declined instead, but approved renters get full coverage up to the policy limit — Risk is handled upfront in underwriting instead of reducing payouts after a claim is filed |
Claims filing window |
Can only be filed post move-out, with 120 days from move-out to file. |
Can be filed mid-lease or post move-out, with 60 days from the coverage end date or verified move-out (whichever is earlier) to file. |