Obligo’s integration with Buildium enabled 5 Star Property Management to implement the no deposit living solution with ease.

About 5 Star Property Management

Carl Santos and Daniel Alu are the property manager and owner of 5 Star Property Management, a 180-unit single family property management company in El Paso, Texas. Their team started using Obligo because they wanted to give residents the option to live deposit-free, and to streamline the accounting process through Obligo’s seamless integration with Buildium.

Carl & Daniel's Challenge

With 5 Star Property Management’s growing portfolio, the traditional way of handling deposits and collecting payments was becoming inefficient. Their team also faced accounting challenges because they had multiple bank accounts to manage. While all payments would initially come into the “collection” account, they needed to be transferred to separate accounts designated for security deposits. This system required a lot of manual labor to transfer funds and maintain accurate accounting. Carl and Daniel needed a solution to streamline move-in & move-out operations, and manage all security deposits in one place.

A Flexible Deposit-Free Solution

Fully integrated with Buildium, Obligo’s flexible security deposit alternative provides a holistic platform that meets Carl and Daniel’s needs. At move-in,
renters at 5 Star Property Management can qualify to live deposit-free with Obligo’s secure Billing Authorization. In exchange for a small fee to Obligo, qualified residents keep their cash throughout the duration of the lease. Alternatively, they can choose to pay a traditional deposit electronically through Obligo.

Once the 5 Star Property Management team enters basic lease information into Buildium, Obligo handles the rest. Renters are invited to live deposit-free or pay a traditional deposit electronically if they prefer. In both cases, all move-in payments can be seamlessly processed via the Obligo platform.

Key Benefits for 5 Star Property Management

Operational Efficiency

In the past, Carl has seen tenants struggle to pay a lump sum of security deposit upfront. Collecting the funds via cashier’s check further delayed the move-in timeline. Obligo’s holistic platform can handle all move-in payments, which increases the operational efficiency. It also helps save time during move-out by eliminating the need for refund checks. “I was cutting a lot of checks, and we’re trying to get away from that,” Daniel said. “Obligo means one less thing I have to do.” Now Carl and Daniel are able to streamline security deposit management while staying fully protected.

Better Resident Experience

The Obligo-powered experience gives residents flexibility and peace of mind. Whether they are using Obligo’s security deposit alternative, free certified electronic payments service, or repaying a balance with interest-free installments, they are saving time and money when they rent with 5 Star Property Management. “Residents are really happy to have the option through Obligo,” Carl said.

Ease of Use

Obligo’s integration with Buildium enabled 5 Star Property Management to implement the solution with ease. Carl described the process as “seamless”. Obligo’s customer success team also provided all the support 5 Star PM needed to ramp up the deposit-free solution quickly and frictionlessly. “The team was amazing — they walked us through everything, it went really smoothly.” Daniel said.