Anyone have experience with Obligo...?

Question

In particular- how was the process when the tenant moved out and there were charges reported against the Security Deposit?  Did Obligo pay quickly, etc.?

Other feedback appreciated also.

Pat Heidingsfelder · Answer

Thanks @Joel Case!

I have recently started using Obligo in my property management company (MS Coast Rentals).

Tenant move out is super easy. I've had a few since onboarding with Obligo. A couple I only reported a few charges, but one was a full eviction with a good bit owed. Super simple process for charging and no questions asked. I thought going in there would be questions, verifications, photos etc. Nope, just log into your portal and submit charges. They had the money in my bank account in a few days typical ACH time frame it seemed. @Ben Thorsen Hit me up if you have any questions.

Nathan Gesner · Answer

Two reasons. First, some of the tenants would take a long time verifying their accounts and it delayed the process. Second, I am bringing it in-house and creating a new profit center.

Dominique Osborn · Answer

Hi Nathan! Our PM company are considering moving from trad. sec deposit transactions to Obligo.. I saw this thread, and then saw your above comment. Would love if you shared how its been for you bringing this method of "insurance" in house from a pm owners perspective :)

Drew Sygit · Answer

@Nathan Gesner why'd you stop using them?

Nathan Gesner · Answer

I used Obligo for 3+ years. Filing a claim is very simple and fast. Even if the Tenant closes their accounts, Obligo will guarantee the payment and go after the tenant to collect. They say it's very, very rare.

The first thing you have to do is notify your Tenant that you are going to charge their account through Obligo. This is a required step in Obligo's agreement. I send my Tenant an itemized list of charges as required by law. Then I go to the tenant's Obligo account and file a claim. I click a box to verify the Tenant has been notified. I choose the category (cleaning, repairs, utility bill, etc.), enter a description of the charge, list the amount, and add it to the ledger. You can enter a lot of detail or keep it short, and you can even attach receipts and pictures. Once all the charges are submitted, Obligo pulls funds from the Tenant's account and pays you within a few business days. Obligo has never contested a charge or asked for more detail.

Joel Case · Answer

I know that @Pat Heidingsfelder may be able to help here, not sure how active he is on here at the moment.

Anyone have experience with Obligo...?

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