Lower move-in cash does not necessarily mean lower total cost.
Current Jetty and Rhino materials describe products that replace an upfront cash deposit with a one-time or recurring nonrefundable premium. The provider protects the property, while the renter can remain responsible for approved damage or unpaid-rent claims.
Keep the traditional deposit and the alternative separate
- Traditional cash security deposit: money held as security and generally subject to the property-state deposit rules, deductions and return process.
- Deposit alternative / surety or insurance product: a policy, bond or guarantee that protects the property instead of placing the same cash amount in a refundable deposit account.
- Premium: the amount the renter pays for the alternative product. Current provider materials describe one-time or monthly premiums that are not returned like a cash deposit.
- Claim liability: if a provider pays the property for covered damage or unpaid rent, the renter may still owe the provider under the product terms.
Model both options before choosing.
Use the dedicated calculator to compare the traditional deposit cash requirement with upfront and recurring alternative premiums. The result is a cash-flow comparison, not a recommendation.
Questions to answer before choosing the alternative
- Can you choose the traditional refundable cash deposit instead?
- Is the alternative premium one-time, monthly or renewed for another lease term?
- Is any part of the premium refundable when you move out?
- What coverage amount protects the property?
- What happens if the property files a claim?
- Can the provider seek reimbursement from you for an approved claim?
- Does the property state require special notices, choices or disclosures for deposit alternatives?
Company examples
Cortland + Jetty
Current Cortland property FAQs describe Jetty Deposit as an alternative to a traditional cash deposit.UDR + Rhino
A current UDR property page promotes Rhino as a deposit-free option; exact availability is property-specific.BH Management
BH says residents can choose refundable or non-refundable security options, with property/state variation.
Current Cortland property FAQs describe Jetty Deposit as an alternative to a traditional cash deposit.UDR + Rhino
A current UDR property page promotes Rhino as a deposit-free option; exact availability is property-specific.BH Management
BH says residents can choose refundable or non-refundable security options, with property/state variation.
Official sources
Jetty Deposit — Renter FAQ ↗
Jetty — Official current renter explanation stating that Jetty Deposit replaces a traditional cash deposit with a non-refundable one-time or monthly premium and a Jetty-backed guarantee to the property.What is Rhino's Security Deposit Alternative? ↗
Rhino — Current official explanation that premiums are not returned at lease end and the renter remains responsible for reimbursing approved claim amounts paid on the renter’s behalf.Cortland Mallard Creek — Deposit FAQ ↗
Cortland — Current property FAQ stating that Cortland offers a Jetty Deposit alternative with monthly or one-time payment options instead of a traditional cash deposit.Broadridge — Benefits of Living With Us ↗
UDR — Current UDR property page promoting a Rhino option to replace the security deposit at that property.Leasing 101 ↗
BH Management — Current BH renter guidance stating residents can choose refundable or non-refundable security-deposit options, with terms varying by property and state.
Jetty — Official current renter explanation stating that Jetty Deposit replaces a traditional cash deposit with a non-refundable one-time or monthly premium and a Jetty-backed guarantee to the property.What is Rhino's Security Deposit Alternative? ↗
Rhino — Current official explanation that premiums are not returned at lease end and the renter remains responsible for reimbursing approved claim amounts paid on the renter’s behalf.Cortland Mallard Creek — Deposit FAQ ↗
Cortland — Current property FAQ stating that Cortland offers a Jetty Deposit alternative with monthly or one-time payment options instead of a traditional cash deposit.Broadridge — Benefits of Living With Us ↗
UDR — Current UDR property page promoting a Rhino option to replace the security deposit at that property.Leasing 101 ↗
BH Management — Current BH renter guidance stating residents can choose refundable or non-refundable security-deposit options, with terms varying by property and state.
Do not assume every deposit alternative works the same way. Product structure, claim rights, renewal, refundability and state-law treatment vary. Review the policy or bond, property disclosure, lease and property-state rules before choosing.