Simply put -- you are immediately charged to set your plan active. As well -- to notify your building’s management that you have elected to go with Rhino over a traditional security deposit.
For Monthly Charges:
The 1st monthly charge you will see will be immediately upon enrollment.
This charge will count as your first month’s payment to Rhino. The next monthly charge will occur one month after the start of your lease. Thereafter, you will be charged every month for the remainder of your lease (on your lease start date). See a detailed payment schedule below.
John enrolls with Rhino on 04/08/2019 for a lease that starts 05/01/2019 and ends 04/30/2020
John is charged immediately on 04/08/2019 to bind his Rhino insurance contract
This counts as John’s first-month payment to Rhino (for the period of 5/01/2019-06/01/2019)
The next time John is charged is on 06/01/2019
John is charged every month on the 1st of the month (billed on autopay to the card on file)
The last time John is charged is on 04/01/2020