NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Rhino, the leading real estate technology company and pioneer of security deposit insurance, today announced a set of milestones that demonstrate the company's strategic growth and commitment to modernizing the rental experience for both renters and landlords. Among these milestones are:
- Nearly 2 million homes nationwide currently offering Rhino products
- $500 million saved for renters;
- 147% in new hires;
- Updated integrations to cover all major property management systems including Yardi, RealPage, Entrata, Rent Manager, and MRI:
- The appointment of new board member Gaurav D. Garg; and
- The release of the 2021 economic impact report.
"Each of these milestones are significant achievements that represent Rhino's influence on the ever-evolving rental market," stated Paraag Sarva, CEO and Co-Founder of Rhino. "This year we have grown in size significantly both internally and externally: nearly tripling in size as a company, and significantly increasing our presence with property owners and renters nationwide."
To account for Rhino's rapid growth, the company has announced several strategic hires and a significant board appointment. The company recently announced the official appointment of Gaurav D. Garg to its Board of Directors. Gaurav brings over 30 years in the insurance industry after serving as the CEO of Global Personal Insurance at AIG. Gaurav is an asset to Rhino's board and seen as a leader at the forefront of digital transformation.
As Rhino continues to gain momentum, the company is well-equipped to execute on their mission and vision to set a new standard for the renting experience. This is made apparent by Rhino's major announcement in October that the company has saved American renters over $500 million since 2017, demonstrating 42% growth from 2020 to 2021.
"Last month, we released our economic impact report which detailed how security deposit solutions have a remarkable impact on the economy and housing market. This is another indication that cash deposits should inevitably be eliminated. This last year has shown a rapidly increasing need to modernize our rental process, and Rhino is proud to pioneer solutions that make renting easier and give renters more control over their cash," said Sarva.
Rhino is the preferred choice for NMHC Top-50 owners across the country and proud to partner with top management companies nationwide including Highmark Residential, UDR, Inc., Lincoln Property Company, Towne Properties, Peak Living, Roscoe Property Management, Echelon Property Group, and more.
Rhino was founded to give renters everywhere greater financial freedom to plan and enjoy their lives. The company eliminates the need for traditional security deposits by replacing them with smart, affordable insurance so renters can maintain control of their cash. Instead of a large upfront cash security deposit, renters pay Rhino a small monthly fee, and Rhino insures the property owner for damages that might occur and lost rent. To date, Rhino is offered in almost 2 million homes, and has saved renters over $500 million in cash.