# Rhino vs LeaseLock for Property Managers > Rhino vs LeaseLock for a large multifamily operator: both sell deposit insurance, and they treat the resident differently after a claim. Canonical: https://webpossible.com/property-management-software/security-deposit-alternatives/rhino-vs-leaselock/ Source: https://webpossible.com/property-management-software/security-deposit-alternatives/rhino-vs-leaselock/ Format: Markdown version for AI agents. The canonical HTML page is at the source URL above. Last verified: 2026-11-05 --- Property Management Software · Security Deposit Alternatives # Rhino vs LeaseLock for Property Managers By Ryan York · published 2026-10-04 · last verified 2026-11-05 ## Short answer - **Both are insurance, and they treat the resident differently after a claim.** Greenlight's renter must reimburse the approved claim. LeaseLock says there is no subrogation, though residents still owe the property their final charges. - **Rhino now sells as Greenlight Rent.** It merged with Jetty in February 2025, and Greenlight Deposit is the product on its site today. - **Neither names a PMS or a carrier.** Both say they integrate with your PMS and both describe carrier ratings without names, so the demo has to show both. - **Only Greenlight says who pays.** Its renter pays and the property pays nothing. LeaseLock's pages do not say. Rhino and LeaseLock, fact by fact, from the shared vendor database. Each fact links to its source and shows the date it was checked. | Fact | Rhino | LeaseLock | | --- | --- | --- | | What it is | Rhino's deposit platform, now sold as Greenlight Rent: Rhino and Jetty describe themselves as one company with one name. Greenlight Deposit is an insurance-based security deposit alternative, sold alongside Greenlight Guarantee (guarantor replacement), Greenlight Bridge (job-loss rent cover) and cash deposit management; 3M rental units, used by 47 of the top 100 owners and operators. [source](https://www.greenlightrent.com/about) | Lease insurance (Zero Deposit) that replaces the cash security deposit and offsets the owner's bad-debt risk, offered as an amenity and integrated with existing PMS; Dallas-based, $17B+ in leases secured, with customers quoted including Avenue 5, ResProp Management and Strata Equity Group. [source](https://leaselock.com/) | | Pricing model | Resident-paid premium in place of a cash deposit, priced per renter (monthly plans not available to every renter); no cost to the partner property; renters stay responsible for excessive damage or unpaid rent; figures not published [source](https://www.greenlightrent.com/partners) | Not published; ask for the per-unit figure and the minimum. | | PMS integrations | Not published | Not published | | Segments | Institutional Multifamily | Institutional Multifamily | | Also known as | Rhino Labs, Rhino deposit insurance, Greenlight, Greenlight Rent | LeaseLock Zero Deposit | | Website | [greenlightrent.com](https://www.greenlightrent.com/) | [leaselock.com](https://leaselock.com/) | | Profile | [Rhino review](/vendors/rhino/) | [LeaseLock review](/vendors/leaselock/) | Rhino and LeaseLock are the two insurance products a large apartment operator usually lines up when it stops collecting cash deposits. The question tends to arrive like this: Rhino vs LeaseLock for a 3,000-unit multifamily operator, which one should we go with? Both replace the deposit with insurance and both sell to institutional multifamily, so the mechanism does not separate them. The resident’s position after a claim does, along with who pays and how much each vendor puts in writing. This page compares the two from the vendors’ own pages. ## How does Rhino work now? [Rhino](/vendors/rhino/) merged with Jetty in February 2025, and its products now sell as Greenlight Rent. The deposit product, Greenlight Deposit, is insurance placed by Rhino New York LLC 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 the site names none. It is not sold in Hawaii, Montana, North Dakota or Wyoming. The renter pays a premium, monthly or once, priced per renter, and Greenlight says the property pays nothing. Greenlight advertises a four-day claims process and lets a landlord pick a coverage limit above the cash deposit. Its About page cites 3 million rental units and 47 of the top 100 owners and operators. ## How does LeaseLock work? [LeaseLock](/vendors/leaselock/) sells lease insurance it calls Zero Deposit. Its [lease insurance page](https://leaselock.com/lease-insurance/) puts the pitch in four short claims: no qualification barriers, no subrogation, not consumer credit, and true insurance. It says carriers rated A (excellent) back it, without naming them. Its [FAQ](https://leaselock.com/how-it-works/faq/) says an applicant you approve is approved for Zero Deposit, with no separate application. Coverage includes unpaid rent, property damage, pet damage and eviction costs. LeaseLock is based in Dallas, cites $17 billion in leases, and quotes customers including Avenue 5, ResProp Management and Strata Equity Group. ## What happens to the resident after a claim? This is the clearest difference between the two. Greenlight’s renter page says the renter must reimburse Greenlight for the approved claim amount. The resident pays a premium and still owes the loss, now to Greenlight instead of to you. LeaseLock says there is no subrogation, which means it does not step into your place to collect from the resident after it pays. Its FAQ still says residents are responsible for all final charges and balances due at move-out. Ask LeaseLock how that works in practice: who sends the final statement, and what happens to a balance it has already paid you. For an owner, the question is how residents will experience a move-out charge. The answer belongs in the resident’s addendum, so ask both for a sample. ## Who qualifies, and who pays? LeaseLock says every applicant you approve qualifies, so the leasing team runs one track. Greenlight prices each renter and says monthly plans may not be available to every renter. Ask Greenlight what share of your applicants would qualify, and what a declined applicant pays instead. On cost, Greenlight states the model: the renter pays, the property does not, and its revenue comes from commissions on what renters buy. LeaseLock publishes no price or payer on the pages we checked. Neither publishes a dollar figure. Ask each for the same four numbers in writing. You need what the resident pays per month or at signing, what the property pays per unit, the coverage cap per unit, and the contract term. Then set the resident’s total cost over an average tenancy beside the deposit you would have collected. ## Which PMS do they work with? Neither one names a system. LeaseLock says it integrates fully with all major PMS systems and that the signed addendum removes the separate renter application. Greenlight says it integrates directly into your PMS through a free leasing integration. A 2021 post on Greenlight’s blog named Yardi, RealPage, Entrata, Rent Manager and MRI. Our record waits for a current page, so the table above shows no systems for either vendor. For an operator on Yardi or Entrata, see enrollment and a claim working in your own system before you sign. The [Yardi integrations page](/property-management-software/integrations/yardi/) and the [Entrata integrations page](/property-management-software/integrations/entrata/) list the deposit vendors that do name each system. ## What should you ask in the demo? 1. **After a claim pays, what does the resident owe, and to whom?** For LeaseLock, ask how final charges are billed when there is no subrogation. 2. **Which carrier is on the policy?** Ask both to name it and its rating. Ask Greenlight whether your states fall inside or outside the 13 where its carriers are rated A- or better. 3. **How fast, how much, and who decides?** Ask for the coverage cap per unit, the days to payout, the proof a claim needs, and how resident disputes are handled. 4. **Who qualifies?** Ask Greenlight for its decline rule. Ask LeaseLock what it means in practice that every approved applicant qualifies. 5. **What does the resident sign?** Ask for the addendum and which state deposit-law protections the resident gives up. 6. **Show the integration.** Ask both to demonstrate enrollment and a claim reaching the resident ledger in your PMS. ## Which fits you? Greenlight fits an operator that wants the published terms Greenlight offers: a renter-paid model, a four-day claims process and a coverage limit above the deposit. It also fits one that wants guarantor and job-loss products from the same company. The things to test are the carrier in your states and the integration. LeaseLock fits an operator that wants every approved applicant covered and does not want an insurer collecting from its residents. The things to test are who pays, the carrier, and the integration, because its pages state none of them. For most 3,000-unit operators, the decision comes down to which vendor puts its carrier, claims terms and a working integration in front of you first. The [Rhino alternatives page](/property-management-software/security-deposit-alternatives/rhino-alternatives/) groups the rest of the field by mechanism, and the [Jetty and Rhino comparison](/property-management-software/security-deposit-alternatives/jetty-vs-rhino/) covers the merged company’s two products. A smaller operator on AppFolio has a different decision, covered in [Obligo against Rhino](/property-management-software/security-deposit-alternatives/obligo-vs-rhino/). The [category vendor list](/property-management-software/security-deposit-alternatives/vendors/) puts every record side by side. If you sell a deposit product and want to know why AI answers describe you the way they do, [AI visibility for proptech companies](/ai-visibility-for-proptech-companies/) explains what we measure. ## How often do AI answers put Rhino and LeaseLock side by side? In the October 2026 edition, ChatGPT and Claude gave 50 answers to the Security Deposit Alternatives questions, and 26 of them named both Rhino and LeaseLock. When both were named, Rhino came first in 15 and LeaseLock in 11. Rhino and LeaseLock in the Security Deposit Alternatives answers, October 2026 edition, one run per prompt on each engine. | Answers that | ChatGPT | Claude | All | | --- | --- | --- | --- | | named Rhino | 17 of 25 | 23 of 25 | 40 of 50 | | named LeaseLock | 11 of 25 | 15 of 25 | 26 of 50 | | named both | 11 of 25 | 15 of 25 | 26 of 50 | | put Rhino first | 8 | 7 | 15 | | put LeaseLock first | 3 | 8 | 11 | ### What the answers say about the pair > “Bottom line: I’d choose LeaseLock if its no-subrogation commitment is contractually clear, local counsel approves the product in your markets, and its coverage, claims service, and all-in pricing beat Rhino in a pilot.” > > ChatGPT, answering sda-cmp-01 “Rhino vs LeaseLock for a 3,000-unit multifamily operator: which security deposit alternative should we go with?” > “Rhino (now Greenlight Rent) is the bigger brand with comparable institutional clients, so you should price both.” > > Claude, answering sda-cmp-01 “Rhino vs LeaseLock for a 3,000-unit multifamily operator: which security deposit alternative should we go with?” > “Short answer: On the evidence I found, LeaseLock is the better fit for a 3,000-unit operator that wants a landlord-side, system-integrated program.” > > Claude, answering sda-cmp-01 “Rhino vs LeaseLock for a 3,000-unit multifamily operator: which security deposit alternative should we go with?” The answers that named both cited 187 sources: 76 vendor websites, 62 other sites, 43 roundup articles and 6 trade publications. These counts come from one run per prompt on each engine, so one answer moves them, and they update with each edition. Quotes are verbatim sentences from the recorded answers, picked by rule rather than by hand. Each vendor's prompts and sources are on its Index row: [Rhino](/ai-shortlist-index/security-deposit-alternatives/rhino/) and [LeaseLock](/ai-shortlist-index/security-deposit-alternatives/leaselock/). All Security Deposit Alternatives rows: [Security Deposit Alternatives in the AI Shortlist Index](/ai-shortlist-index/security-deposit-alternatives/). ## Where the answers and the vendor record disagree 1 answer in the October 2026 edition said that LeaseLock is aimed at single-family rental owners. > “LeaseLock (Zero Deposit): Among the options I found, it is the most clearly aimed at SFR owners.” > > Claude, answering sda-seg-01 “I manage 700 scattered single-family rentals. Which security deposit alternative is built for SFR property managers rather than big apartment communities?” The record: No current LeaseLock page names single-family rentals; its own pages describe lease insurance for multifamily operators, so the vendor database no longer tags it for SFR. [Source](https://leaselock.com/). ## Where do Rhino and LeaseLock rank in AI answers? Security Deposit Alternatives, October 2026 edition: 50 runs, one run per prompt on each engine. Mention rate is the share of runs that named the vendor, leaving out prompts that name it in their own text; rank is among all 18 vendors in the category's ranking. These figures update each edition. | Vendor | Mention rate | Rank | Prompts naming it | | --- | --- | --- | --- | | [Rhino](/ai-shortlist-index/security-deposit-alternatives/rhino/) | 77% | 2 | 20 | | [LeaseLock](/ai-shortlist-index/security-deposit-alternatives/leaselock/) | 48% | 6 | 13 | The prompts that named each vendor, and the sources behind them, are on its row. Full table: [Security Deposit Alternatives in the AI Shortlist Index](/ai-shortlist-index/security-deposit-alternatives/). ## What do these vendors leave off their own pages? - [Rhino](/vendors/rhino/#claim): no published property management system integrations - [LeaseLock](/vendors/leaselock/#claim): no published pricing or property management system integrations Vendors can fill these in by claiming their profile; claimed details appear as a labeled vendor-supplied section next to the sourced facts. ## Which vendors do AI answers name most in this category? In the October 2026 edition, across 50 recorded runs, the engines named Obligo (83%), Rhino (77%) and Jetty (73%). The live ranking, source map and every vendor row: [Security Deposit Alternatives in the AI Shortlist Index](/ai-shortlist-index/security-deposit-alternatives/). ## Questions about Rhino vs LeaseLock ### Is Rhino or LeaseLock better for a large apartment operator? Neither wins on the published record. Greenlight states more: who pays, a four-day claims process and a coverage limit above the deposit. LeaseLock states that it does not pursue residents through subrogation and that every applicant you approve qualifies. Choose on the claims terms and carrier each one puts in writing. ### Does LeaseLock go after the resident after a claim? LeaseLock's lease insurance page says there is no subrogation. Its FAQ says residents are responsible for all final charges and balances due at move-out, which they owe to the property. ### Does Rhino go after the resident after a claim? Yes. Greenlight's renter page says the renter must reimburse Greenlight Rent for the approved claim amount. ### Which carriers stand behind Rhino and LeaseLock? Neither names one. Greenlight says it acts as a general agent for several carriers, rated A- or better in 13 states, and that elsewhere the policy may be written by an excess and surplus lines carrier. LeaseLock says its insurance is backed by carriers rated A (excellent). Part of [/property-management-software/security-deposit-alternatives/](/property-management-software/security-deposit-alternatives/). Last verified 2026-11-05