The Landlord Tech Company That Turned Security Deposits Into a Monthly Fee

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 …