WELCOME to a New Era of Renting with GEM Realty
Moving into a new home should be exciting and stress-free. At GEM Realty, we’re committed to providing flexible and affordable options to make your renting experience as smooth as possible. That's why we offer Obligo, a modern alternative to traditional security deposits that can save you money and provide greater convenience. Explore the benefits below and see how we can help you find your perfect home.
Obligo Security Deposit Alternative Program FAQs
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How do I qualify for Obligo?
Qualifying for deposit-free living with Obligo is a breeze! We provide several options to instantly qualify in-app. -
How does Obligo work?
Instead of paying your full security deposit upfront, qualified renters have options to pay a smaller, non-refundable Obligo fee.
If there are charges when you move out (such as damages or missed rent), your property manager will submit these charges and Obligo will collect the amount from you using any payment method connected to your Obligo account. Property managers can only submit charges up to your original security deposit amount. Obligo clearly shows you all charges immediately—faster and more transparently than traditional security deposit processes.
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How is Obligo better than a traditional security deposit?
With a traditional deposit, residents pay a large sum in advance, before there’s any actual reason for charging such an amount. With Obligo, residents only pay for damages or missed rent if your property submits a charge at move-out.
It’s similar to a traditional deposit in that:
- It gives you incentive to take good care of your apartment, because you’re still accountable if there are damage or missed rent charges.
- It preserves your property manager's ability to get cash instantly, as soon as a charge is submitted, as if they had a cash deposit.
- It preserves your right to dispute charges directly with your property or via a small claims court.
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Does paying the Obligo service fee mean I won't owe anything at move-out?
Not necessarily, since you are still accountable for the condition of your rental unit. Just like the hotel check-in and check-out process, signing up for Obligo allows your property manager to charge you for damage, cleaning or missed rent. -
Is Obligo a form of insurance?
No, Obligo is not insurance! -
Will Obligo show up on my credit report?
In some cases, we may run a soft credit check to qualify residents for Obligo options. The inquiry might appear on your credit report, but it won't impact your credit score.