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Obligo Launches Lease Renewal Incentive Program
[April 07, 2021]

Obligo Launches Lease Renewal Incentive Program

NEW YORK, April 7, 2021 /PRNewswire/ -- Obligo, a leading security deposit alternative that builds trust between landlords and renters through financial technology, has launched a lease renewal incentive program designed for residential landlords to increase retention rates, minimize the cost of concessions and provide renters with immediate cash they can use to save, invest or reduce debt.

Landlords who participate in the program will be offering a simple perk to their renters: receive your deposit back upon renewal. In a national survey conducted by Obligo, this renewal offer was shown to be more effective than a 3% concession on annual rent.

Obligo helps property owners and managers optimize lease renewals with carefully timed, automated email and text communications, keeping renters engaged throughout their decision making process. When a renter chooses to renew and receive their deposit back, landlords stay protected against damages or missed rent with Obligo's deposit-free program. Participating landlords only pay for sucessful renewals.

"We are thrilled to offer a product that strikes right at the heart of the most important metric for any business: customer loyalty," said Omri Dor, COO of Obligo. "The level of rent concessions offered today is at an all time high due to the lingering effects of the COVID-19 crisis. Our renewal incentive program provides renters with the cash they need, while giving owners enhanced protection and increased NOI."

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About Obligo

Obligo rids both landlords and renters of the burden of security deposits, lowering costs, increasing cash flow and simplifying the move-in process. Owners and managers use Obligo to streamline their operations, comply with changing regulations, make their listings more appealing to renters, and incentivize renewals.

As the only non-insurance deposit alternative, Obligo's credit-based solution keeps landlords secure and renters accountable by combining Open Banking technology with AI-based underwriting and collection capabilities. Since launching its fintech solution in 2018, Obligo has established partnerships with leading US property managers in the multifamily, single family, student housing, and workforce rental housing markets.

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Keegan St. Onge-May

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