We understand that moving costs can really add up and a hefty security deposit can make it even more difficult. To help, we offer the option for a $0 security deposit in partnership with Obligo through a billing authorization. Qualified tenants will pay a smaller fee based on your qualifications and length of stay.
When you apply for an apartment or room on Anyplace, we will ask if you’d like to pursue the $0 security deposit option, if the property allows it.
So first, find a place you love, apply, and then find out if you qualify.
How do I apply for the $0 deposit offer?
If you are interested, we will send you a link to a secure form on the Obligo website to complete. After completing the form you will get an automatic decision and fee amount. You are not obligated to accept the offer.
How do I qualify?
To qualify for an Obligo billing authorization, you will first need to meet the individual property screening criteria. In addition to meeting those criteria, Obligo will ask that you provide authorization to one or more billing methods. Obligo typically requires both a credit card (not debit) and a US bank account. Obligo will connect to these billing methods and run a series of tests to make sure that sufficient funds are available on them. In certain cases, Obligo will also run a credit check for additional screening.
How much does it cost to use Obligo for the billing authorization in lieu of paying the full deposit upfront?
The price can vary depending on the length of your stay and the deposit amount. Rates can be affected by your length of stay, deposit amount, and your qualifications. The monthly Obligo rate will be charged in full for the entire term at the time of your agreement. It can start at less than $10 a month for a 1-year lease for well-qualified applicants. Shorter leases may have higher rates.
Will there be a hold on my funds during the Obligo application process?
During the approval process, there can be a temporary hold or authorization that will fall off, usually on the same day.
Is there a minimum stay requirement to be able to use this feature?
The minimum charge to use Obligo instead of paying a full deposit is for 3 months. If you are staying for 1 or 2 months, you can still use the offer, but the minimum 3-month charge for the service will still be required.
Is there a minimum deposit amount in order to qualify?
The minimum deposit is $800 to be eligible.
How does an Obligo Billing Authorization compare to a standard security deposit?
With a traditional deposit, you would pay a large sum in advance, before there’s any actual reason for charging such an amount. With an Obligo Billing Authorization, you only pay if there are damages or incidental charges.
The billing authorization will be the same amount as the deposit amount. You will only be required to pay up to your deposit amount if there are any damages or incidental charges. You will be responsible to pay the property any amount beyond the security deposit in the case of excess damages or incidentals.
What if I end up staying longer?
It’s easy to edit the billing authorization dates and lease-end dates. Some changes, such as an increase in billing authorization dates, would naturally require your consent.
Is Obligo a form of insurance?
No. Obligo is not an insurance product or surety bond – Obligo is the only security deposit alternative whose model utilizes bank-issued Letters of Credit from Wells Fargo to provide landlords and tenants with security, flexibility, and ease of transaction.
If there is a charge/claim submitted for damages or incidental charges that are validated, the property will be paid, and you will have the option to repay Obligo in full or in installments.
Can I cancel the agreement with Obligo if I move out early?
No, the original authorization terms and fees amount will remain the same.
Is this only for U.S. locations?
In order to use Obligo, you must have a U.S. bank account but could be used outside of the U.S. in that case.