All Forum Posts by: Barbara Lynn

I have been a renter for decades and I am a bargain shopper (save money) and if this is something I can implement in my life, so be it. The verdict is out atm.

0 Votes

Greensboro, North Carolina

Quote from @Adam Martin:

I'm not sure this company is what you think it is. This is basically you paying into a bond that will pay damage and lost rents if you are unable to the landlord but this isn't a collective of money pooled together for the common good. You are basically paying a risk premium, if there are no issues the money you paid is gone. If there are the landlord gets paid but Rhino is going to pursue payment from you and you will go to collections so they can try to recoup.

I don't like the whole idea and will not be using it. One of my major screening criteria is you must have the deposit and first month's rent plus pet deposit within 48 hours of acceptance. There are a lot of factors out there but savings is a lifestyle and some people are just incapable making sound financial decisions. Some people are destined to be broke and if they make minimum wage or well into 6 figures their savings account will not contain a comma. I don't show the house unless you say funds are ready but if you lied and we need to wait until payday this isn't happening. You are one car breakdown or medical bill away from paying rent since you don't have an emergency savings.

Thanks Adam. Yes this is true about living paycheck to paycheck for renters. I can relate to this type of living. Interesting feedback and I am very curious to read the pros and cons.

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Greensboro, North Carolina

Quote from @Peter Tverdov:

We are currently researching a $0 security deposit option for tenants. They would pay us, the management company a small non-refundable annual fee that is basically a third of their traditional deposit. Rhino is basically like that.Then we would turn around a guarantee 1.5x the rent security deposit guarantee to our owner clients. I think it's the future and I'm 90% sure we are rolling it out this summer, just nailing down the specifics.

Thanks Peter for the breakdown. For me possibly becoming a landlord, this is appealing.
As a current renter, I am going to look further into this model.

0 Votes

Greensboro, North Carolina

Quote from @Bjorn Ahlblad:

Yeah I have heard about it. There was a post about Rhino on here a while back. Glad it is working out for you.

Thanks for your comment. I have not taken action as a renter yet.

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Greensboro, North Carolina

Hi everyone! For those of you with rentals, this may be of interest to you which I discovered on linkedin. I talk to landlords here where I live and find this interesting to be of benefit with landlords and tenants. I had trouble paying rent during covid crazy (slow income non RE related) and wonder if this could have helped at that time. There are 2 articles that caught my attention.

This article today has an OPT IN which I did not do:

Millennials & Gen Z want flexibility and affordability, more than a long-term commitment. Learn why they are flocking to single-family rentals.

This article was a year ago:

Rhino is revolutionizing the single-family home marketplace for renters. Rent growth for single-family homes has grown by 5x since June 2020.

Have you heard of this company?

I am not affiliated with Rhino. This may help ME as a current renter which is why this caught my attention.

1 Vote

Greensboro, North Carolina

Thanks. I thought I did. Oh well! Try again!

The city I want has old postings. Yes I do see current for other cities.

Thanks again!

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BP: I viewed the section "find deals" real estate listings. The listings are more than 3 months old.

Is this the correct section for me to view? Please advise.

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Quote from @Rick Albert:

California eviction laws are very messy right now. My general understanding is any tenant not paying rent starting this month is business as usual. However, every city and county have their own guidelines. For example Los Angeles is based on income, etc. You need to check with the local housing board.

This is for homeowners with mortgages as well as rentals.

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An associate of mine stated that a buyer has backed out of a closing of bulk lot purchase which was shovel ready. Their reason was there is a law about to be enforced in California. It protects HOs from foreclosure and tenants from eviction from nonpayment. This builder did not want to build SF homes due to this law. Can anyone confirm or is this a BAD rumor!

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All Forum Posts by: Barbara Lynn

Barbara Lynn has started 3 posts and replied 16 times.

Post: Contract for Deed question

Post: Have you heard of Rhino?

Post: Have you heard of Rhino?

Post: Have you heard of Rhino?

Post: Have you heard of Rhino?

Post: Have you heard of Rhino?

Post: Direct me to find deals section

Post: Direct me to find deals section

Post: California mortgages and rentals

Post: California mortgages and rentals