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Across the United States, Security Deposits tie up over $45 Billion dollars a year in non-interest-bearing accounts, and neither the landlord or the renter benefits from these funds while they\\u2019re just sitting there.\\xa0 The security deposit is meant to protect the landlord from any damages caused by the renter, but often when it comes to serious damage the landlord will have to take the tenant to court to get paid and often does not recoup the time, money and effort that this process requires.

There is an alternative to security deposits that some states are just beginning to recognize as legal.\\xa0 The concept of Security Deposit Insurance has been gaining momentum over the past several years, and my guest today is going to explain how it works to the landlord and renter\\u2019s benefit.

Paraag Sarva is the co-founder of Rhino, the leading security deposit insurance provider in the U.S. and he\\u2019s spent 10 years as a landlord in the New York metro area with over 250 units.

Today we\\u2019re going to discuss the disruptive nature of Security Deposit Insurance, how it works, the costs and benefits, and whether or not you or your property manager can provide this at your properties.

You can contact Paraag and find out more about Rhino Security Deposit Insurance by going to https://www.sayrhino.com

Today\\u2019s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area.

https://www.livegreenlocal.com

And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits.

https://www.rcbassociatesllc.com