Rhino Alternatives for Property Managers

Rhino was one of the first names a multifamily operator heard for leasing without a cash deposit. Since its February 2025 merger with Jetty, its products sell as Greenlight Rent, and sayrhino.com forwards there. The deposit product is now called Greenlight Deposit.

Operators look past it before a renewal, after the rename, or when an owner asks who stands behind the policy. This page sorts the other vendors in the security deposit alternatives category by how each one replaces the deposit, and notes what each publishes that Greenlight does not.

How does Rhino work now?

Rhino sells Greenlight Deposit, which Greenlight describes as insurance. Rhino New York LLC, doing business as Greenlight Rent, places it as a general agent for several carriers. In 13 states those carriers are rated A- or better.

Elsewhere the policy may be written by an excess and surplus lines carrier, and it is not sold in Hawaii, Montana, North Dakota or Wyoming.

The renter pays a premium, monthly or once, priced per renter, and the partner property pays nothing. If there is a loss, the renter must reimburse Greenlight for the approved claim. Greenlight advertises a four-day claims process and lets a landlord set a coverage limit above the cash deposit.

The company also sells Greenlight Guarantee for guarantor requirements, Greenlight Bridge for job-loss rent cover, and renters insurance. Its About page cites 3 million rental units and 47 of the top 100 owners and operators.

Why do managers look past Rhino?

Four reasons come up, and each points to a different kind of alternative.

1. The carrier. Greenlight’s site names no carrier, and outside 13 states the paper may be non-admitted. An owner who wants a named carrier on the resident’s document has to ask for it, or pick a vendor that publishes one.
2. The PMS. Greenlight’s current pages say it integrates directly into your PMS without naming a system. A 2021 post on its blog named Yardi, RealPage, Entrata, Rent Manager and MRI, so our record leaves the list empty until a current page names them.
3. The merger. Jetty is the same company. Choosing between them is a choice of product, which the Jetty and Rhino comparison covers.
4. The resident’s cost. The premium is non-refundable, and the resident still repays the claim. Peter Lohmann, a property manager who writes about the category, notes that a premium does not count toward losses the resident later owes.

Which alternatives are surety bonds?

A surety bond guarantees the resident’s obligation. The surety pays your claim and then collects from the resident. Three of the bond sellers below name their surety, which Greenlight does not do for its policy.

• Jetty is the merged company’s own bond. Jetty Deposit is written on State National paper, residents pay monthly or once, and Jetty recovers claim payments from the resident.
• SureDeposit is issued by American Bankers Insurance Company of Florida, an Assurant company. The resident makes one non-refundable payment for the residency and reimburses the surety for any claim. It sells to apartment communities and names no PMS.
• TheGuarantors sells Deposit Coverage as an option on its lease guarantee. Its legal page lists six carriers behind its bonds, including The Hanover and Arch, and it names Yardi and Entrata as integrations. Deposit Coverage is a one-time fee that lasts the tenancy, and the landlord may pay it for the renter.
• Deposit Choice sells surety bonds at participating multifamily communities, underwritten by national insurers it does not name. Residents stay responsible for unpaid rent and damage.
• RealPage sells its own DepositIQ surety bond, which shares data with OneSite, according to its deposit alternatives page. The same page resells Obligo.

Which alternatives are insurance, like Rhino?

These replace the deposit with a policy, as Greenlight does. They differ on whether the resident owes the insurer afterwards, so ask each one.

• LeaseLock sells Zero Deposit lease insurance backed by A-rated carriers it does not name. Its lease insurance page says there is no subrogation, so LeaseLock does not step into your place to collect from the resident. Residents still owe the property their final charges. Rhino against LeaseLock compares the two.
• Leap replaces the deposit with a monthly fee billed with rent, backed by an insurer rated A- by A.M. Best that it does not name. It names Entrata and Rent Manager. Its operator guide says claims pay only after you regain possession and must be filed within 120 days of the default.
• LeaseGuard sells DepositPro, which it describes as an A-rated insurance policy with up to twice the monthly rent in coverage, available only to its partners.

Which alternatives are not coverage at all?

Four vendors keep the deposit closer to you and the resident.

• Obligo keeps a billing authorization on the resident’s payment method, backed by bank letters of credit. There is no claims step: once you close the move-out record, it pays by ACH up to the deposit amount. It names Yardi, RealPage, Entrata, AppFolio, Buildium and MRI. Obligo against Rhino compares the two.
• Qira holds cash deposits in FDIC-insured accounts in the property’s name and also offers zero-deposit and installment options. It names Yardi, RealPage, Rent Manager and ResMan.
• Beagle offers a non-refundable monthly option with a limit from $500 to $6,000, reimbursed after a claims review. It names Yardi, Rent Manager and Rentvine.
• ePremium Insurance sells eDeposit, a protection certificate rather than a policy. A resident must first buy ePremium renters insurance to get it.

How do you choose a Rhino alternative?

Decide first whether you still want insurance. If you do, LeaseLock, Leap and LeaseGuard are the field, and the choice turns on the carrier and on whether the resident owes the insurer after a claim.

If a bond works, Jetty, SureDeposit and TheGuarantors name their sureties. If you want no third party at all, look at Obligo, Qira and Beagle.

Then filter by PMS with the table above or the Yardi and Entrata integration pages. In the demo, ask each vendor:

1. Which carrier or surety is named on the resident’s document, and is it admitted in our states?
2. Does the resident owe you after a claim, and who collects it?
3. What coverage limit can we set per unit, and how long does a claim take to pay?
4. What happens to an applicant who does not qualify?
5. Can you show enrollment and a move-out claim posting in our PMS?

If residents are already enrolled in Greenlight Deposit, ask both sides what happens to their coverage when you switch.

The Obligo alternatives page sorts the same field from Obligo’s side, and deposit alternatives for single-family rentals narrows it for managers of houses. Every record sits in one table on the deposit alternative vendor list. Several of these vendors also sell renters insurance, which the renters insurance programs guide covers.

If you sell a deposit alternative and AI answers describe your product wrong, our AI visibility work for proptech companies is written for you.