Keep your move-in cash
A traditional security deposit ties up a month’s rent or more until you move out. For relocators carrying two leases, renters buying furniture, or anyone moving into a $4,000 apartment, that’s real money. A security deposit alternative replaces the cash deposit with a smaller fee.
Most Austin high rise apartments accept at least one of the four main programs: Jetty, Obligo, TheGuarantors and Rhino. We know which programs each building works with and which pairings produce the fastest approval.
The four programs, briefly
| Program | How it works | What you pay | Also a guarantor? |
|---|---|---|---|
| Jetty | Surety bond replaces the cash deposit | Non-refundable fee | No (separate products) |
| Obligo | Billing authorization instead of a cash hold | Small fee | No |
| TheGuarantors | Deposit replacement plus lease guarantee options | Fee based on coverage | Yes |
| Rhino | Surety bond replaces the cash deposit | Non-refundable fee or monthly premium | No |
Program terms change, so we confirm current details with the building. The full comparison is in Jetty vs. Obligo vs. TheGuarantors vs. Rhino.
It’s not damage insurance
With a surety bond, the program pays the landlord’s valid move-out claim and then bills you. You’re still responsible for damage. What you save is the upfront cash.
Fee or deposit: which costs less?
It comes down to cash flow versus the refund.
- Choose the cash deposit if you have the cash, plan to stay a while, and expect a clean move-out. You get it back.
- Choose an alternative if keeping cash matters now: relocating, overlapping leases, furnishing a new place, or managing an additional deposit required for conditional approval.
On a $3,000 apartment, a one-month deposit is $3,000 held for a year or more. A deposit alternative might cost a few hundred dollars, non-refundable. Our deposit alternative vs. security deposit guide walks through the break-even, and the Move-In Cost Estimator shows both scenarios.
Deposit alternatives and approval
If a building approves you conditionally with an additional security deposit, a deposit alternative can make that condition affordable. TheGuarantors can also act as a lease guarantor when your income or credit falls short of a building’s criteria. That pairing is often the difference for strong-income renters with imperfect credit. See flexible credit & approval.
