NEW YORK--(BUSINESS WIRE)--Stonehenge NYC and Rhino announced today that new residents across Stonehenge NYC’s 22 apartment buildings now have the option to sign up for Rhino and avoid paying an upfront security deposit commonly required by New York residential landlords. This innovative new alternative will allow residents to save thousands on upfront move-in costs.

With Rhino, renters pay a small monthly fee through the term of their lease avoiding the burden of having to provide a one-time payment for a security deposit while Stonehenge receives the protection normally required for the same items and damages typically covered by security deposits.

“We are pleased to offer Rhino to our residents, a creative alternative to the standard upfront security deposit,” said Ofer Yardeni, CEO and chairman of Stonehenge NYC. “This tech-enabled solution provides new residents with more flexibility in how they manage their monthly obligations. I am convinced that Rhino’s service will improve the rental process for our customers. We are excited to continue to be at the forefront of innovation.”

“Stonehenge NYC is a premiere landlord in New York City and we are thrilled to bring Rhino to their residents,” said Paraag Sarva, Rhino co-founder and CEO. “With Rhino, we’re able to provide renters with an option that makes the rental process easier and more accessible.”

About Stonehenge NYC

Stonehenge NYC and its affiliated companies is a vertically integrated, private real estate company with expertise in investment management, property management, development, design, construction and leasing. Stonehenge, together with its investment partners, owns a portfolio of properties in Manhattan valued at approximately $2.5 billion comprised of 22 income-producing properties with close to 3,000 apartments representing over 3.0 million square feet of prime residential space. Stonehenge is recognized for its above-and-beyond customer service platform and five-star lifestyle programming. More information can be found at: www.stonehengenyc.com.

About Rhino

Rhino is a real estate technology company replacing security deposits with a smarter alternative that’s better for both renters and landlords. Renters pay a small monthly fee instead of a large security deposit while landlords receive more security. Learn more at sayrhino.com.