Hey everyone, just a quick update on September's Monthly Apartment Investors Luncheon. First and foremost, the webinar will start at 11am MT/1pm ET. Please note that we moved the Luncheon webinar up 1 hour so it truly is in line with 'lunch' coast to coast now that we're holding these Luncheons virtually.
Joining us in September will be Mr. Hank Teran. Hank works for a company called Rhino that offers low cost Security Deposit Insurance. Instead of someone paying a full month's rent or more as a security deposit, they can apply thru Rhino and pay around $5-$15 a month!! This is a huge savings. Especially, for some C Class properties where the residents are potentially having cash flow issues and have a hard time coming up with larger deposits. BTW, if you're not getting at least a full month's rent for a security deposit, you need too. And, Rhino can get you there.
I am not being compensated by Rhino to have them on the Luncheon. We are using them at several of our properties and have had wonderful results, because no one else in the area is offering this service.
In one case, we had a property that was languishing between 87%-92% occupancy and we just couldn't seem to get it any higher. We instituted Rhino in February or 2020 and within a month we hit 100% occupancy!! I have other students that are using them with great results as well.
If you do need to make a claim against a resident for damages or breaking their lease, there's a form you need to complete and potentially photos and repair docs you'll need to provide Rhino. Once they have all the documentation, they'll submit an ACH transfer to you within 48 hours for those items for the full cost of the damages or the cost of the policy, whichever is higher. We made a claim due to one of our new residents passing away. It may sound morbid, but they broke the lease by not staying thru the end of their lease. In this particular case, our PM thought it would be easier to track the payment by getting a paper check, which Rhino also offers. So in our case, it took about a week for the check to arrive.
There is NO COST to you as a property owner or PM to use Rhino. The cost is borne entirely by the renter! Join us on Tuesday, September 15th at 1pm ET to learn more about this awesome program. It will set you apart from your competition.
Click the registration link above to register now.