The Landlord Tech Company That Turned Security Deposits Into a Monthly Fee
Description
Rhino sounds like a good deal at first. When people move into a new apartment, they often have to pay a large lump sum security deposit to their landlord. For people who can’t pay, Rhino offers to bill them a little bit every month in lieu of the deposit. But there’s a catch: unlike security deposits, money sent to Rhino is never returned. The company uses algorithms to make the wealthy pay less than poorer people, some renters are still paying for places where they no longer live and no one, including landlords, can get the service on the phone.
This week on Cyber, Motherboard writer Roshan Abraham comes on to discuss his investigation into Rhino.
Stories discussed in this episode:
How Landlord Tech Is Squeezing Renters Who Can't Afford Security Deposits
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