Partner Guidelines
Rhino’s product is designed to deliver a seamless experience for your team and your renters. Keep these best practices in mind as you utilize Rhino to support your business goals and relationship with your renters. These Partner Guidelines may be updated from time to time as we are constantly working to improve our products and the customer experience we seek to deliver.
These Partner Guidelines are designed to provide additional detail about how Rhino’s program works – if there is a conflict between these Guidelines and the terms of a policy we issue, the terms of the policy control.
Renter eligibility
Renters who are approved to rent at a Rhino partnered property may be invited by you to apply for a Rhino policy. However, our services cannot be offered to renters who are already behind on rent payments or are otherwise in arrears. If a renter has an outstanding rent balance, you will need to resolve the balance with the renter directly before they can apply for a Rhino policy. Coverage is subject to underwriting approval and may not be available to all renters who apply. Eligibility for a Rhino policy is determined based on a number of different factors, including credit score. For instance, if a renter is ineligible for a Rhino policy, it is likely that their credit score was below 599. The renter will receive a Fair Credit Reporting Act (FCRA) notice from us via email if they are declined, which will also include the credit score that we used, as provided by Equifax.
Who is responsible for what?
- You are responsible for qualifying renters for the lease, determining what coverage they require and providing necessary details and information to Rhino.
- Renters are responsible for entering their information on Rhino’s website and paying for a policy that will cover claims submitted by you.
- Rhino is responsible for administering the payment of valid claims submitted by you under a Policy.
- Renters will be responsible for paying those amounts back to Rhino.
- Both you and your renters are responsible for being responsive and providing reasonably requested information in connection with any claims.
Rhino is, and should always be, an optional service.
Rhino coverage should always be optional, and not mandatory. It’s our goal to promote choices, for you and your renters and each renter should have an opportunity to choose the deposit option that best suits their needs.
Rhino cannot be used in addition to a cash security deposit.
Rhino coverage offers the same protection that a security deposit does. A renter should only pay for a cash deposit or a Rhino Policy.
Guidelines for coverage
The coverage amount listed on a renter’s Rhino policy reflects the maximum dollar amount that can be claimed in the event of a loss. It’s very important that you make sure each renter has the coverage required of them to avoid issues later on.
For renters who qualify for the lease without additional requirements, coverage amounts can be adjusted by multiples of the rent price to ensure complete protection of the rental unit.
For renters who do not qualify for the lease on their own, coverage amounts can also include the use of Rhino as a third-party guarantor to help them qualify. Please note that lease guarantee coverage cannot be purchased without security deposit coverage.
It’s important for you to be clear about the coverage that a renter needs in order to be approved for a lease so that the renter understands what they are required to purchase.
Only one Rhino policy needs to be purchased per unit.
Multiple Policies cannot be purchased to cover a single lease or home. A Rhino Policy can be used to replace a security deposit and provide lease guarantee coverage for the entire home under the lease, not just the policyholder. If multiple Renters are moving in, only one can enroll for coverage.
You should not charge Renters any fees in connection with Rhino’s Services.
You are not permitted to charge renters penalties or fees to use our services. Charging such fees may violate state and/or local insurance and housing laws.
Promptly confirm a Renter’s Policy details to ensure coverage validity.
When sending invitations, it’s vital that you make sure all information provided is correct. Errors relating to coverage amount, monthly rent and lease dates, and addresses are common and can impact your coverage. Policy details can be corrected after enrollment is complete, although corrections must be made as soon as possible after enrollment. Corrections cannot be made at the time a claim is filed, so be sure to double check your invitations, and review completed Policies for any errors. Incorrect Policy information can result in a lack of coverage.
Claims.
- A seamless claims experience is crucial for everyone – us, you, and the renter. If you incur a loss that is covered by one of our policies, you can file a claim with Rhino.
- When filing a claim, be sure to include a copy of the lease, your rent ledger and any other evidence of damages or missed rent payments.
- A copy of the ledger and claim should also be provided to the Renter for transparency.
- Please note that, just like a normal cash security deposit, you can’t make claims for normal wear and tear. In most states, normal wear and tear includes the following:
- Faded paint or wallpaper due to sunlight
- Broken plumbing caused by normal use
- Dirty blinds and curtains
- Rug wear caused by normal use
- Furniture marks in carpet
- Warped doors caused by age, temperature or moisture
- Warped windows caused by the flow of the glass
- Dents in walls from door handles
- Broken appliances, if not from misuse
- Dusting
- Faded blinds or curtains
- Broken lightbulbs
- Replacement batteries for smoke detectors
- Scuff marks on hardwood and linoleum floors
- Dirty or loose grout around floor tiles
- Small scuffs on walls or dents from door handles
- Picture or pin holes in walls, as long as not excessive
Claims can be filed up to 60 days after a policy or the applicable lease expires
You can file claims up to sixty (60) days after the expiration of the renter’s Policy or the termination of the lease, as applicable. Claims submitted after the sixty (60) day reporting window may not be covered.
Cancellations
Rhino policies can only be canceled if both you and the Renter agree that coverage is no longer needed. However, since failing to reply to a cancellation request will result in the renter continuing to be charged for coverage, we do have the right to process cancellation if we don’t hear back from you within 7 days.