June 29, 2018

Renting in NYC, Minus the Security Deposit

Oxford Property Group is pleased to announce a new partnership with rhino, a firm that eliminates the need for renters to pay a security deposit to their landlord.

In the interest in always seeking out the best for our clients, Oxford learned about the services that Rhino was bringing to the New York City market -- we were excited to hear more.

Rhino is a great resource for our agents and clients, offering a way for our clients to secure their dream apartment with less of an upfront investment. Instead of having to pay a landlord a large upfront security deposit, Rhino offers renters the ability to pay a low monthly insurance fee instead. 

"Security deposits are often up to 50% of a renter’s moving expenses. Rhino lets people move in with just first month’s rent and a small monthly fee, freeing up cash for other vital expenses, making it easier for real estate agents to close deals faster and more efficiently,” Rhino founder Paraag Sarva said.

Since landlords who have Oxford clients as tenants rarely need to access the security deposit for damages, security deposits generally end up sitting idly in a landlord’s bank account and staying out of reach for our clients. By working with Rhino, Oxford agents have the opportunity to present listings to their clients that don’t require security deposits and as a result, freeing up that capital for our clients to use in their day-to-day lives.

Rhino was established in New York City to address this issue in the marketplace and so far Oxford agents have been very happy with our new partnership. 

“Rhino fills a gap in the market and allows our agents to present an innovative way for their clients to opt-out of the security deposit payment,” Oxford Property Group co-founder Adam Mahfouda said.

“Security deposits are large and burdensome. What Rhino brings to the table can transform our clients’ experience with moving to New York City and make the experience less financially draining,” he added.

“We’re always looking out for our clients’ best interests and know that working with Rhino will help get them a great deal with their next apartment.”

In order to make the listings easily accessible, Oxford has added a search feature for “no security deposit” so that clients can quickly see what is available in which neighborhood.

Working with an Oxford agent and their representative from Rhino makes the process quick and easy, leaving everyone happy with the end result.

“Real estate is an industry where we’re seeing technology disrupt business-as-usual in the best way possible, because it helps our clients. At Oxford, we want to help our clients find their perfect place in New York City and working with Rhino helps make that dream into a reality,” Mahfouda said.

If you’re ready to start your search for an apartment in NYC, reach out to an Oxford agent today. We’re here to guide you every step of the way, from learning about the differences between neighborhoods to making the best financial decision possible.

Oxford agents are committed to making sure that you love your new home and will work with you to make that happen. By working with an Oxford agent, you know you’ll receive some of the best services in the industry. We’re looking forward to hearing from you soon!