Yardi Simplifies Security Deposit Process for Property Managers & Residents

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Jun 12, 2024, 08:00 ET

New partnership enables Yardi clients to offer flexible security deposit alternatives, enhancing the resident experience

SANTA BARBARA, Calif., June 12, 2024 /PRNewswire/ -- Yardi®, a leading provider of real estate software for every portfolio size and type, today announced a new offer for clients to enhance the resident experience with an innovative alternative to traditional security deposits. Yardi has partnered with Obligo® to simplify the security deposit process between property managers and residents.

Yardi has partnered with Obligo® to simplify the security deposit process between property managers and residents. (PRNewsfoto/Yardi)

"We are excited to partner with Obligo to make deposit collection easier for our clients and to streamline the renting journey for residents," said Akshai Rao, president of residential at Yardi. "One of our main commitments at Yardi is customer experience. This new offering will not only help our clients grow their businesses, but also make the move-in process easier for many residents."

Yardi clients can now offer residents a flexible security deposit option, allowing them to pay a fee instead of a one-time payment before move-in. This strategic partnership eliminates the need for traditional security deposits while maintaining full accountability for damages.

"By focusing on an API-first approach, Obligo is empowering our software partners to build a seamlessly integrated deposit alternative, as well as provide flexible payment and refund options for traditional deposits," said Roey Dor, CEO and co-founder of Obligo. "We are thrilled to join forces with the Yardi team to help rid property managers and renters nationwide from the burden of security deposits."

This latest initiative is one of many new offerings from Yardi's resident portal. For more information on how this could benefit your multifamily organization, contact a Yardi representative.

About Yardi

Celebrating its 40-year anniversary in 2024, Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 9,000 employees, Yardi is working with clients globally to drive innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

About Obligo

Obligo harnesses financial technology to build trust between renters and landlords, making the move-in and move-out process as simple as checking in and out of a hotel. As the first security deposit alternative utilizing bank-issued Letters of Credit supported by Wells Fargo, Obligo uses Open Banking and AI to determine renters' eligibility to rent deposit-free.

Founded in 2018 by brothers Roey Dor and Omri Dor, Obligo has raised more than $50 million and is looking to bring its industry-changing rental solutions to millions of homes across the United States.

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SOURCE Yardi