Everything you need to know

How can I be sure Rimbo will be able to pay damages if the tenant defaults?

Should the tenancy end with demages to the rented dweling, Rimbo will recover this cost using the tenants debtit card given to us when he or she signed for the program. In extreme cases we will involve our legal team.
But in any case, if the tenant cannot pay his debts and our claims failed, we still commit to pay out the landlord.

How do I convince my landlords to use Rimbo’s service with their properties?

We understand that some landlords might feel more secure knowing they have a cash deposit in their hands. However, once they understand that the Legal protection is the same, only with a greater coverage, for the entire length of their contract, they might relise the huge benefits of working with Rimbo’s service and step into the future of renting.

To help you introduce Rimbo, we will provide you with additional information on our website, and also with marketing material to help you better explain the benefits.

Can I offer Rimbo along with a normal deposit?

Of course, we encourage our partner agents and landlords to offer Rimbo’s service as an option. The choice is in their hands. Some landlords or tenants might prefer to get or give cash and go about the normal traditional deposit way.

How does Rimbo work for a joint tenancy ?

Multiple tenants can be added to Rimbo jointly. They will be reliable for each other.

How long does a Rimbo agreement last for?

For the entire length of the contract.

What happens if there are damages to the apartment at the end of the tenancy?

The tenant will always be responsible for any damages done to the property. Our services will allow them to charge the tenant.

What is covered by a Rimbo?

Landlords are fully covered for:
1. Unpaid rent
2. Unpaid utilities bills
3. Damages to the rental property (excluding normal use)

Is the tenant still incentivised to look after the property?

Yes, tenants are still liable for any damages and they will still have to pay all costs at the end of the tenancy, exactly like they would with a traditional cash deposit. We solve this “moral hazard” problem using payments technologies, making sure their payment method is still active. In our Terms and Conditions we explain profoundly what are the obligations and rights of the tenant, the beneficiary of the plan is the landlord and not the tenant.

Which tenants are eligible to work with Rimbo?

In order to be eligible you need to register FOR FREE and submit the following information:

1. Last two months’ pay slips
2. A copy of your DNI/NIE or passport

Easy, straight forward and fast process. We usually give back an answer in 24h.

Will it cost me anything to offer Rimbo to my tenants?

No, Rimbo is absolutely free for agents and landlords. Rimbo can offer new benefit streams and proven efficiency to decrease vacancy rates.

What does Rimbo offer and why is it different to a traditional tenancy deposit?

Rimbo is the best and easiest solution to move into a new rental property. Allowing you the tenant to keep your additional cash deposit in your pocket and use it in any way you want. In order to make this happen, you will need to give Rimbo a billing authorization to charge directly your bank account, credit/debit card, only in case there are claims submitted by the property owner.

Rimbo’s product is an alternative to cash deposits given to the landlord.
Instead of the traditional two to three months cash deposit, Rimbo will only charge you a non-refundable one time fee of 2.2% (+vat) of the annual rent.
Your landlord will be covered for the whole contract period.
By allowing RImbo to have this billing authorization, you will be reponsible if there are claims.

Can I use Rimbo’s services if I am a freelancer?

Sure!!!
Rimbo will ask you to provide:

1. Your latest tax declaration report
2. A copy of your DNI/NIE or passport

How is Rimbo assuring the landlord?

Working with Rimbo means that the Landlord will always be paid for any unpaid rent, damages or utilities.

OK, I want to use Rimbo’s services for the new apartment I am about to rent, what do I do?

Congratulations for finding your dream rental property, so don´t lose any more time!!

It’s super simple:
1. Register on our website FREE OF CHARGE, we will verify your income and your identify
2. Pay your membership fee and move in!

We are here to help you through the whole process and we will be happy to hear from you at info@rimbo.net.

What is a billing authorization?

It is the ability you give to a certain company to charge your bank account/credit/debit card directly and is irrevocable during the entire rental period (e.g. water, light, gas, mobile operators,etc.)

When does Rimbo´s billing authorization expire?

Rimbo will reach out to the Property manager to get the confirmation that lease has ended before releasing the authorization. As you can understand, charges are generally made after the lease end date. If there are damages at the rental property, the landlord will need to asses those damages and quantify them. Rimbo will make sure that the billing authorization is released in a reasonable amount time.

How much will the service cost?

Example: Let’s assume your rent is 1000€ a month, no matter the length of the contract period. 1 month in cash of legal guarntee must be deposited in a govermental institution mandatory by local law (e.g. Incasol in Catalunya) which you would get back in the end of the tenancy. Rimbo will allow you to say goodbye to the two additional months worth of rent that are commonly asked for along with that one month mandatory legal guarantee. In our example, this would have summed up to as high as 2000€!!! Thanks to the new online Rimbo system, you could keep your money in your pocket, NO need for an extra cash DEPOSIT! Pay a one-time non-refundable fee of 2.2% (+VAT) of the annual rent – 1000€ * 12 months * 2.2% = 264€. This will allow you to become a member of the Rimbo comunity, enjoy the many tools we offer, and most of all – be FREE from CASH DEPOSITS throughout your entire tenancy.

What do Rimbo’s services cover?

Landlords are fully covered for:
1. Unpaid rent
2. Unpaid utilities bills
3. Damages to the rental property

What are the benefits of offering “deposit free rent” as an option for my properties?

1. Better protection – up to 100% more coverage
2. No need to deal with the cost and burden of managing cash deposits
3. Less hassel at the time of collecting your money.
4. It’s absolutely free for you

What is the cost of Rimbo’s services?

FREE for you

Who pays?

The tenant.

What are the typical minimum requirements that Rimbo would accept for working with tenants?

Tenants need to pass our credit screening to assure their ability and probability to pay

In order to be eligible tenants need to REGISTER FOR FREE and submit the following information:

1. Last two months’ pay slips
2. A copy of your DNI/NIE or passport

How do I offer this service to my potential tenant?

That’s easy: Tell them about this great opportunity to keep their deposit money and replace it with a financial deposit. The tenant will be qualified through Rimbo’s tenant screening – for free!
Once the tenant completes this process, he or she will be notified with a message prompting them to pay for Rimbo’s service. Once paid, you the landlord and your tenant will be notified, the membership will begin and they will be ready to move into the rental property.

How does Rimbo process claims?

Your agent logs into Rimbo’s platform (it’s easy!) and submits the claim.

Rimbo in turn processes the claim in a short time.

What happens if there is a claim dispute between the Tenant and me ( the Landlord)?

Working with Rimbo means that the Landlord will always receive compensation for any unpaid rent, utilities or damages caused. Rimbo will cover you as a landlord and will deal with tenant.

What if the tenant simply can’t pay the claim?

Rimbo will always pay the landlord in full, while the tenant will pay Rimbo.

How much will the service cost?

Example: Let’s assume your rent is 1000€ a month, no matter the length of the contract period. 1 month in cash of legal guarantee must be deposited in a governamental institution mandatory by local law (e.g. Incasol in Catalunya) which you would get back in the end of the tenancy. Rimbo will allow you to say goodbye to the two additional months worth of rent that are commonly asked for along with that one month mandatory legal guarantee. In our example, this would have summed up to as high as 2000€!!! Thanks to the new online Rimbo system, you could keep your money in your pocket, NO need for an extra cash DEPOSIT! Pay a one-time non-refundable fee of 2.2% (+VAT) of the annual rent – 1000€ * 12 months * 2.2% = 264€. This will allow you to become a member of the Rimbo community, enjoy the many tools we offer, and most of all – be FREE from CASH DEPOSITS throughout your entire tenancy.

Is being a member of Rimbo the same as a giving an additional deposit?

NO, Rimbo is a deposit replacement service. By giving us a billing authorization you as a tenant will only pay if and when the landlord submits a charge.

Is Rimbo considered a tenant insurance?

No. We are a credit product. Rimbo will relieve you of paying the additional cash deposit for the rent which is usually the largest amount you would need to give once you rent a new property.

Am I eligible for Rimbo’s services?

In order to be eligible you need to register FOR FREE and submit the following:

1. Last two months’ pay slips

2. A copy of your DNI/NIE or passport

The process is easy, straightforward and fast. We will get back to you within 24 working hours.

How does Rimbo work for a joint tenancy?

Multiple tenants can be added to Rimbo jointly. They will be reliable for each other.

How long is my Rimbo membership valid for?

For the entire length of your contract tenancy, or until you have exhausted the coverage.

Do I get my Rimbo membership fee back?

No, it is a one-time non-refundable fee of 2.2% (+VAT) of the first year’s rent.

Is the tenant responsible for any unpaid rent, damages or utilities?

Yes. The tenant is obliged to pay whatever was stipulated in the rent contract signed, and/or for any damages he or she might cause to the apartment.

Does Rimbo seeks proof of damage before approving landlords’ claims? How are disputes solved?

Rimbo does not decide about disputes nor does it evaluate the claims. We in Rimbo believe that the tenant should have a fair claim for any damage he or she are asked to cover. You as a tenant will always have the legal right to dispute a charge in accordance to local laws and practices. Same as with a traditional cash deposit dispute.

What is the benefit of offering deposit free as an option for my properties?

Higher coverage for your property and more ease of mind. Also, as a Landlord, you do not have to deal with the cost and burden of registering cash deposits

What is the cost of Deposit Insurance?

For the landlord is abseloutly free

Who pays?

The tenants

What are the typical minimum requirements that Rimbo would accept for Deposit Free?

Tenants need to pass our credit screening to assure their ability and probability to pay

What does deposit free cover?

Landloeds are covered for unpaid rent, damages to the apartment, any financial lost resulting and legal expsneses (not including eviction), up to the value of three months rent, simillar to traditional deposit, only with more coverage.

How do I offer this service to my potential tenant?

Great question! That’s easy: tell them about this great opportunity to keep their money and replace the cash deposit with a financial guarantee, by qualifying Rimbo’s tenant passport – for free!
Send them to register with Rimbo and complete their Rimbo-passport for free here (add link). Once the tenant completes this process, they will be notified of thier personal quote (price) of the service. once they pay, you and your tenant will get notified, their membership and they are ready to mobve in to your apartment and the the rent.

How does Rimbo process claims?

You or your API can log in to the Rimbo platform (it’s easy!) Or just email us with the detailed claim. You will need to attach proof of damage. For example: tenant signed entry report, tenant signed exit report, claim amount, itemized, and proof that you have previously requested it from the tenant (for example, a copy of the burofax, email correspondence with the tenant etc …).

What happens if there is a claim dispute between Tenant and Landlord?

As a policy, Rimbo does not take sides in disputes and plays no role in assessing claim correctness or fairness. However, Rimbo believes it is essential that tenants have a fair chance to dispute unreasonable claims.

tenants who intend to dispute claims may ask Rimbo for 14 days of deferred payment until they communicate with their landlord. Rimbo’s intention is to provide sufficient time for residents to either discuss the claim with their property manager or to formally dispute the claim.

Tenants have the legal right to dispute a claim and they may do so in accordance to local laws and practices, just like they would have been able to do with a normal deposit.

Above all,Rimbo encourages the property manager and resident to communicate before any claim is made.

Will it cost me anything to offer tenants Rimbo?

No, Rimbo is abseloutly free for agents and landlords. Not only we dont charge landlords to sign-up with us, but also we pay you a 15% commission of the monthly rent for every new landlord you bring on board. Aside from the benefit of a new revenue stream, and prooven efficiency to decrease vacancy rates.

Which tenants are eligible for Rimbo?

Tenants who pass our fast online cecks

Is the tenant still incentivised to look after the property?

Yes, tenants are still liable for any damages and they will still have to pay any costs at the end of the tenancy, exactly like they would with a regular deposit. We solve this “moral hazard” problem using payments technologies, making sure their payment method is still active. Using our terms and conditions wrriten by our legal team, we explain proufudnly what are the obligations and rights of the tenant, explaing to them that the beneficiary of the plan is the landlord and not the tenant.

Additionally, we offer tenants a reduction on their Rimbo fees by rewarding good behaviour and “on time” payments.

What is covered by a Rimbo?

We are not here to change the staus qou. The contract between the tenant and the landlord remains the same, and each will have to honor it. We are here only to offer an alternative to rental deposits.
As such, traditionaly, like with a normal deposit, the landlord will be covered for rent payments that were not paid, damages to the dweling and legal services (not including eviction).
Unlike the traditional deposit, we will offer the landlord 1 extra month of coverage, all for free.

What happens if there are damages to the apartment at the end of the tenancy?

As normally, at the end of the tenancy, after negotiating with the tenant, the landlord will have to claim for damages. The tenant can pay directly to you or to the landlord and resolve the dispute.

How long does a Rimbo agreement lasts for?

For the entire leangth of the contract and up to 5 years.

How does Rimbo work for a joint tenancy ?

Multiple tenants can be added to a Rimbo jointly. They will be each reliable for the other

Can I offer Rimbo along with a normal deposit?

Of course, we encourage our partners agents and landlords to offer Rimbo’s service as an option. The choice is in their hands. Some landlords or tenants might prefer to pay and go about the normal traditional deposit way.

How do I convince my landlords to use Rimbo’s service with their properties?

We understand that some landlords might feel more secure knowing they have a deposit in their hands. However, once they understand that the protection they get is the same, with a greater coverage, for the entire leangth of their contract, they might understand the benefits and step into the future or renting.

To help you introduce Rimbo, we will provide you with additional information on our website, and also with marketing material to help you better explain the benefits.
Para habilitar la compatibilidad con lectores de pantalla, pulsa Ctrl+Alt+Z. Para obtener información acerca de las combinaciones de teclas, pulsa Ctrl+barra diagonal.

How can I be sure Rimbo will be able to pay damages if the tenant defaults?

Should the tenancy end with demages to the rented dweling, Rimbo will recover this cost using the tenants debt or credit card given to us when he or she signed for the program. In extreme cases we will involve our legal team.
But in any case, if the tenant cannot pay his debts and our claims failed, we still commit to pay out the landlord within 14 days of an accepted claim or dispute.