How does Obligo’s work?

How is Obligo better than a traditional security deposit?

Obligo charges a non-refundable fee for the use of our security deposit alternative services.  Paying this fee gives you access to Obligo’s flexible options to fulfill your security requirement.

The amount of the Obligo fee is based on a few factors, including the amount of the security requirement set by your property manager and your financial portfolio

Is Obligo a form of insurance?

No, Obligo is not insurance!
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Read more about how our service works here.

Will Obligo show up on my credit report?

In some cases, we may run a soft credit check to qualify residents for deposit-free living. The inquiry might appear on your credit report, but it won't impact your credit score.

How do I qualify for Obligo?

Qualifying for deposit-free living with Obligo is a breeze!  We provide three easy options to qualify in-app:

With a US bank account, checking or savings, connected with Open Banking

With two cards and a soft credit check

With two non-US cards and an ID verification

In the vast majority of cases, you will be able to qualify by connecting one US bank account. Obligo uses an open banking connection to run a lightning fast series of tests to ensure that sufficient funds are available in your account.


If you don’t have access to a US bank account, Obligo offers alternative options to qualify. You can choose to qualify with two US credit or debit cards and a soft credit check, or with two non-US credit or debit cards and ID verification with a passport.

Can I qualify for Obligo with a savings account?

Yes! Renters are able to qualify for Obligo using a savings or checking account.  


To better support renters of all financial backgrounds, you can also qualify with two credit/debit cards and a soft credit check or two international credit cards and an ID.  

Can I use a debit card to qualify for Obligo?

Yes! You can qualify for Obligo with debit cards that are connected to a bank account. We do not accept prepaid cards.

 
To use a debit card to qualify, click on 'See All Ways to Qualify' in the application. From there, you will see options to qualify with 'Two cards and a soft credit check' or 'Two international cards and an ID verification.’


You can also qualify for deposit-free living by connecting a US bank account or two cards being a combination of credit, debit, or international cards.

What is Plaid? How does Obligo work with Plaid?

Obligo uses Plaid, but what is Plaid?


Plaid is a 3rd party technology vendor that enables you to securely share data about your bank account with Obligo. Obligo will look at data such as your current balance and balance history to instantly qualify you for deposit-free living. If you don’t wish to share this data, other qualification paths are available to you in the Obligo app.


By connecting to 11,000+ financial institutions around the world, Plaid powers many applications people use today, such as Venmo, SoFi, American Express and Wells Fargo.

 
While Plaid is actively expanding their network of financial institutions, some banks are not yet integrated.

What happens when my lease ends and I move out?

If there are no damages or missed rent, you will be notified by email that your Billing Authorization has been released and there’s nothing more to do!  


If there are damages or missed rent, your property manager will make charges against your Billing Authorization, and Obligo will advance payment to your property manager.


You then have the flexibility to pay Obligo back for those charges in either a lump sum or in interest-free installments.

Why was I charged at move-out?

Just like the hotel check-in and check-out process, your Billing Authorization with Obligo allows your property manager to charge you for damage, cleaning or missed rent.


You have the flexibility to pay Obligo back for those charges in either a lump sum or in interest-free installments.


Questions about a charge? Please contact your property manager.

When does my Obligo plan expire?

There is no “expiration date,” rather your deposit-free service remains active until your property manager has confirmed and processed your move-out.

After you’ve moved out, your property manager is responsible for inspecting your rental, entering any charges, and closing your Obligo record. It may take some time for this process to be completed - typically less than 30 days. Obligo does not charge any renewal service fees until 30 days after your initial lease term has ended.


Once your Obligo record has been closed, you’ll receive an email confirmation and your service will automatically end.

If I already paid a traditional cash deposit, can I switch to Obligo’s service when I renew my lease?

Yes! Ask your property manager to upgrade you to a deposit-free lease at the time of renewal, and they can send you an invitation to sign up for Obligo’s service.

How does Obligo’s deposit-free service work?

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How does Obligo’s deposit-free service work?

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How does Obligo’s deposit-free service work?

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How does Obligo’s deposit-free service work?

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