NEW YORK, Jan. 14, 2019 /PRNewswire/ -- Obligo, the financial technology company that enables deposit-free rental buildings, today announced that it has completed the integration of its billing authorization technology with Yardi's property management software suite. As a result, multifamily building operators who use Yardi will now be able to implement and manage Obligo's deposit-free platform across their portfolios.
Obligo is the only security deposit replacement technology on the market today that is not an insurance product. Instead of buying an expensive insurance policy, renters and landlords alike enter into a mutual "billing authorization" agreement, using open banking technology, that authorizes landlords to bill renters up to a pre-agreed amount. As a result, renters avoid paying thousands of dollars upfront when signing a lease, while landlords save on administrative hassle without sacrificing peace of mind.
"Integration with Yardi makes it that much easier for multifamily operators to make their buildings deposit free, which is both a powerful amenity and an alleviation of burdensome security deposit administration," said Omri Dor, co-founder and CEO of Obligo. "Our platform is capable of managing both traditional security deposits and billing authorizations, so landlords and management companies enjoy consolidated reporting and reconciliation, now integrated directly into the Yardi platform."
With Obligo, landlords get immediate payout on claims, while residents can repay claims in installments. Unreasonable claims may be disputed through usual channels, just like a normal deposit. Residents who don't qualify for Obligo or who prefer to pay a traditional deposit may do so through the same unified and paperless workflow.
Some of New York City's most active luxury apartment owners have adopted Obligo, including Adam America, Stonehenge and Olshan Properties. The integration into Yardi automates and streamlines the renter onboarding process across leasing, management and accounting teams.
"Obligo's Yardi integration is going to speed up the pace of adoption across all Adam America properties," said Dvir Cohen Hoshen, Managing Partner at Adam America. "We've loved going deposit-free and so have our residents."
Obligo is a financial technology company that partners with luxury apartment owners and operators to rid both them and their renters of the burden of security deposits. Obligo's "billing authorization" solution replaces deposits by allowing landlords to bill renters up to a pre-authorized amount. Based on Open Banking technology, Obligo was designed by a team of cybersecurity experts, data scientists, credit risk experts and real estate professionals to ensure it meets the highest security standards. The company's goal is to completely eliminate security deposits and become the new standard for all apartment rentals. Learn more at www.myobligo.com.