Ankur Jain, founder and chairman of Kairos, discusses his new company Rhino, which allows renters to pay as little as $10 a month toward their security deposit instead of putting up thousands of dollars upfront. Rhino is already available in 23,000 units in New York.
Jain explains Rhino isn't paying the security deposit upfront either, but instead giving landlords a policy for double the money. Jain says renters pay $10 a month for the first year, and then as long as they're in good standing, that amount is reduced substantially.
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
