Subscribe
Sign in
Whale — Security deposits that just work. For everyone.
Whale is the first win-win solution for security deposits. Renters earn up to 3.25% interest and get their deposit back faster. Landlords get a zero cost, zero risk, and zero work security deposit management solution integrated with their PMS.
20
Replies
Casey Hingtgen
Maker
📌
Whale believes everyone deserves a chance to build wealth so we're transforming an overlooked opportunity—security deposits. For many, a large portion of their net worth is tied up in a costly security deposit where they earn little or nothing.
With Whale, renters keep their money in their own high-yield savings account where it stays locked for the duration of their lease but they earn up to 3.25% interest for as long as the money is in their FDIC-insured account. After their landlord inspects their unit, their money is instantly released, less any damages. No more waiting weeks for checks in the mail!
It's great for landlords, too. Complying with complex legal laws that differ by state and municipality is not only hard, but can lead to large legal fees and fines. It's also a big time suck: collecting payments, opening + managing accounts, and handling the return of the deposit eats up time that can be better spent on other to-dos.
Please check it out and share your questions and comments.
Share
This is a brilliant idea! Sadly, I can't get a registration email (tried two emails and checked my spam folder)
Maker
@anton_osipov Thanks for your interest! If you’re a renter, your landlord must be partnered with Whale for you to take advantage. If you’re a landlord, click “Schedule Demo” to get started.
This is a great idea, in Ontario rent security deposits are supposed to accrue interest, but it's very difficult to get the landlords to pay it out - your solution will make this much easier to deal with
Maker
@matthew_podolak 100% and with Whale you get paid every month and immediately have access to that money if you want to withdraw the interest (but it's better to keep in your account so you earn interest on the interest).
Maker
@paulmalc Great question. Currently, we are a Registered Investment Advisor with the SEC in the U.S. only.
As someone who's dealt with the headache of security deposits both as a renter and landlord, this is seriously refreshing! 🏠
The 3.25% interest rate for renters is a game-changer - finally our deposits aren't just sitting there collecting dust! Been using it for a couple of weeks and the integration with property management systems is smooth as butter. Zero extra work? Yes please!
What really sold me is how it's truly win-win. Renters get their money working for them (and faster deposit returns 🙌), while landlords get hassle-free deposit management without any costs. In this economy, every bit of passive earning helps.
It's fantastic! My security deposit finally feels like it's being used effectively.
Maker
@sagandara_thuppahiya YES!! And the truth is security deposits are YOUR money. We're excited to be helping renters reclaim their earnings potential.
Maker
@drew_dunham Hi Drew - great question. There's a one-time onboarding setup a landlord needs to do with Whale that takes 15-30 min depending on their property management software. Feel free to introduce us to your landlord here >> https://www.gowhale.com/share
Amazing! I've always felt my security deposit was wasted just sitting in an account doing nothing.
@philip_polk I always assumed it was probably sitting in the property manager's account(s) gaining interest for them.
Maker
@philip_polk @gregstenson Sometimes yes, but often the money sits in a checking account that earns around 0.01% so not very exciting for landlords who are eager to offload all the management overhead that comes with traditional deposits (collecting, depositing, and returning checks).
Maker
@philip_polk Yes, frustrating to have a sizable chunk of money not earning you anything when it's legally YOUR money. Thanks for being a fan!
