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CYBER
The Landlord Tech Company That Turned Security Deposits Into a Monthly Fee
Oct 31, 2023
Rhino offers a monthly fee alternative to security deposits, but the money is never returned. Poorer people pay more, some renters pay for places they no longer live, and no one can reach the company by phone. The podcast explores the impact of such landlord tech companies, lawsuits, and the lack of transparency and frustration faced by renters dealing with Rhino's fees.
52:02
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Quick takeaways
- Rhino offers a non-refundable monthly fee instead of security deposits, but renters end up paying more in the long run.
- Rhino's service disproportionately affects renters with lower incomes and weaker credit, contributing to a 'poverty tax'.
Deep dives
Real Page and Yardi Lawsuits and DOJ Investigation
The podcast episode discusses the lawsuits and DOJ investigation surrounding Real Page and Yardi, two companies that provided rent-setting software for landlords. The lawsuits claim that these companies, by setting the rent for multiple landlords using their own proprietary algorithms, eliminated competition and violated federal law. The DOJ has recently filed a request for comment and may officially join in the class action hearing against Real Page.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode