New York, NY Oxford Property Group and Rhino have launched a new deposit-free search tool that allows prospective renters and their brokers to search for exclusive deposit-free listings through Oxford Property’s own online search tools.
Already several top New York City building owners and asset managers have signed on to use the service with tenants who include: Brodsky Organization, Glenwood, First Service Residential, L+M Development Partners, Stonehenge and The Moinian Group.
“This new search tool allows prospective renters and their brokers to easily identify deposit-free listings,” said Adam Mahfouda CEO of Oxford Property Group, who says many of the growing brokerage’s 500 agents are using the new tool that replaces large cash security deposits and other upfront leasing requirements with a low-cost insurance program.
Through Rhino, a real estate technology firm, renters pay just a small monthly fee, starting at $5/month and landlords are covered for any damage or loss of rent that occurs during the term of the lease. Rhino, reimburses landlords directly for valid claims and tenants are only responsible for avoidable damage and unpaid rent. This new deposit-free search tool connects prospective renters directly to Rhino’s deposit-free listings, making it one step easier to rent deposit-free.
“In our ongoing efforts to invest and build technology to help agents and clients, we are seeking new innovative ways to improve the rental process,” said Mahfouda. “The partnership signifies a major step toward the continued adoption of new tech-enabled solutions to modernize New York City’s current renting system.”
“We’ve always felt the right way to build our business is through collaboration and active participation from renters, landlords, and brokers,” said Paraag Sarva, Rhino co-founder, and CEO.
“As a firm with a keen interest in technology and innovation in the brokerage space, we are excited to partner with Oxford Property Group through Rhino’s API Partnership Program,” said Sarva.