See how Obligo’s deposit-free solution helped Real Property Management® Triad save 15 hours per week on deposit admin and speed up the leasing process by 4 days per resident.

About RPM Triad

Brent Morris is the managing broker of Real Property Management® Triad, a single family property management company in Greensboro, North Carolina, with 1,130 units in their portfolio. Brent’s team has been using Obligo since 2021 to streamline move-in and move-out operations.

Brent’s Challenge

The old-school way of managing security deposits had been weighing on Brent’s operation. One major obstacle was collecting certified funds at move-in. Approved applicants had to physically get cashier's checks from the bank, then Brent’s team needed to account for each check, deposit them, and update renter ledgers in their PMS manually. It usually took 3-4 business days to get the funds and have a property removed from the market. This slow leasing process cost Real Property Management® Triad many prospective renters.

The inability to receive guaranteed certified move-in payments electronically was Brent's biggest pain point. He wanted a paperless solution to accelerate the payments, but just as importantly, to make his properties stand out, attract more renters, and stay competitive with other property management companies in the area.

That’s why Obligo stood out to him as the best security deposit solution - Obligo guarantees the move-in funds paid by tenants, whether they choose to live deposit-free or pay a cash deposit.

A Flexible Deposit-Free Solution

Obligo’s flexible security deposit alternative provides a holistic platform that meets Brent’s needs. At move-in, renters at Real Property Management® Triad 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. They can also choose to pay a traditional deposit through Obligo.

Deposit-free or not, renters will have a platform to submit move-in payments electronically, including first month’s rent, security deposit, or any other fees
required. Obligo’s ACH processing is free and we guarantee delivery of the funds for the property, which means Brent no longer needs to send applicants away to get certified checks and potentially lose deals.

“We didn’t have to wait for FedEx, mail, or people physically coming by to bring in move-in funds,” Brent said. “That was really the most important piece of the puzzle.”

Obligo’s customer success team also provided all the support Brent needed to ramp up the deposit-free solution quickly and frictionlessly.

“The team is very proactive and responsive, and communication is simple. They are there to help whenever we have questions.” Brent said

Real Property Management® Triad’s Results

Obligo has helped Real Property Management® Triad save 15 staff-hours per week on the front end (processing applications and move-in payments), and accelerated the move-in process for each new resident by 4 days on average. The amount of paper checks and money orders to deposit went down dramatically, and so did the risk of fraudulent payments.

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“We're a trendsetter in our area, launching a security deposit alternative and using it extensively, which gives us a leg up on the competition.” Brent said.

He was pleasantly surprised that 80% of new tenants are choosing to live deposit-free with Obligo over paying a traditional deposit.

“Obligo gives renters more options. It’s their choice whether to use deposit-free or not,” Brent said. “I think giving people that flexibility makes us more attractive right from the get-go.”