As the coronavirus continues to keep people in their homes, uncertainty grows. Millions of renters are unable to pay rent, due to being furloughed or laid off. Even those still employed and earning income face uncertainty: their stocks may have plunged in value, their 401(k) balance may have fallen, they may need to loan savings to nonearning family members, or their business may be losing key clients. As a result, the key theme right now is cash is king. For renters, it’s about: how much savings does one have? Will it last through any COVID-19-related hardships? A huge portion of…
If you were looking for an apartment 3 months ago, you would not have been able to go through the entire process without meeting a broker or visiting a leasing office. This was true even for the more ‘advanced’ owners and operators. But now, as social distancing guidelines continue to prevent in-person showings and lease signings, brokerages and leasing teams are evolving rapidly. Many, including Realogy, Compass, the Corcoran Group, Douglas Elliman and Core, have slashed their workforces, suspended ad budgets, and reduced pay and commission structures for those remaining.
The first person to ever let someone use something of theirs, or stay in their property, likely wanted some reassurance that if something got damaged, they would be made whole. For thousands of years, we lived in a world where the only way to have this reassurance was to hold on to someone’s money with the promise to return it once they had met their obligations. This became such a complex process that we created our entire legal and credit systems to help navigate this arrangement. …
(The full interview by Marco Dehry can be read at Authority Magazine)
Roey Dor is the President & Co-founder of Obligo, a financial technology company that rids both renters and landlords from the burden of residential security deposits. Before devoting his work full-time to Obligo, Roey served as Co-CEO of ‘141 Group’ and co-founded ‘City-People’, an urban renewal company which was recently acquired by a publicly traded construction company. Roey served in the Air Force as a fighter pilot for 8 years (+12 years in reserve). Following his service, earned a B.A. in Economics.
The new rent laws are here, and real estate professionals all over New York State are still coming to grips with the full extent of this change. The most glaring changes have to do with a landlord’s ability to raise rent on rent-stabilized units, an issue that has received widespread coverage. One part which has received less attention until now, is how these new regulations affect security deposits.
The new security deposit regulations, which are already in effect, are expected to have a deep impact on the day to day operation of leasing teams, management teams, accounting teams, and banks…
Fintech solution removes the burden of upfront security deposits for Common members while keeping renters accountable.
Common, the nation’s leading residential brand enhancing the quality of living through convenience and community, and Obligo, the financial technology company that enables deposit-free rental buildings, today announced a partnership to eliminate security deposits for the majority of Common’s New York City coliving members.
Common, currently operating 27 coliving buildings across six markets, is rolling out a significant new technology perk to its New York City members: deposit free living. This tech amenity, enabled by a partnership with fintech company Obligo, is now available…
Obligo is a fintech company that rids both renters and landlords from the burden of security deposits.
The security deposit is one of the biggest hassles in all of real estate. The tenant is required to sometimes tie up thousands of dollars to move into a new apartment or house, the landlord has to secure that money in a separate trust account, and then at the end of the lease the landlord has to return that money back to the tenant. But often times the exchange doesn’t go as smoothly as planned. Obligo is challenging the…
Obligo’s deposit-free technology is defining the new standard for security deposits, effectively eliminating the need for paper checks. Learn more from our very own Casey Winter during his appearance at the Property Management Mastermind Show.
Obligo is a financial technology company founded by cyber security and data science experts. Obligo’s goal is to revolutionize the tenant — landlord relationship by drastically increasing fairness, trust, accountability and transparency.
Renters provide a digital “billing authorization” in place of a security deposit, allowing management to charge them in the event of damages.
The following is an excerpt from the Q&A between Obligo CEO Omri Dor and Multifamily Executive (MFE). A link to the full interview can be found below.
A ‘deposit-free building’ is a cost-effective amenity that landlords can leverage to make their apartments more appealing to upscale renters, while reducing their administrative burden at the same time. By using Obligo, landlords can accelerate lease-up, lower vacancies, and drive up the rent roll.
Here, Dor discusses the Obligo platform, how…
Obligo rids both landlords and renters from the burden of security deposits, and makes the move-in process as simple as checking in to a hotel.