A security deposit is usually the largest single cost of moving in, and it is the one that does nothing for you while you live there. Legacy Signature Rentals offers an alternative through Obligo: instead of handing over a deposit in cash, you are approved for a deposit-free move-in and keep that money for the move itself.
This guide explains what Obligo is, how to apply, exactly what to enter on the application, and the one rule that catches people out.
What is Obligo?
Obligo is a deposit alternative. Rather than paying a cash deposit up front, you go through a short approval with Obligo and connect a payment method. Your lease obligations do not change — you are still responsible for rent and for any damage beyond normal wear and tear — but you do not tie up hundreds or thousands of dollars for the length of your lease to prove it.
If there is nothing to charge at the end of your tenancy, there is nothing to pay. That is the whole idea behind Obligo’s own phrase for it: use it or lose it.
How Obligo works with Legacy Signature Rentals
There are two steps, and both happen online.
1. Apply online
Go through Obligo’s application and connect your payment method securely through their platform. You will need the details of the home you are renting and the landlord information below.
2. Receive your decision
Most applicants get an answer within about an hour. You are not left waiting on a decision while a move-in date approaches, which is the practical reason most of our residents who use Obligo choose it.
What to enter on the Obligo application
Obligo asks who your landlord is. It is not your own name that goes in these fields, and getting them wrong is the most common reason an application stalls. Enter:
- First name: Legacy
- Last name: Homes
- Company name: Legacy Signature Rentals
- Email: the landlord email our leasing team gives you — request it here and we will send it with your application link
We hand the email out on request rather than publishing it, so it stays a working inbox rather than a spam target. Ask for it at the same time as you ask for a showing and you will have it before you need it.
The one rule to know before you choose
Obligo has to be your entire deposit solution. It cannot be combined with any other deposit payment method — you cannot put part of the deposit down in cash and cover the rest with Obligo, and you cannot switch halfway through.
That makes this a decision to take before you sign, not after. If you are unsure, ask our leasing team to walk you through both options while you are still looking at the home.
Is a deposit alternative right for you?
It usually makes sense if:
- You have the income to cover the rent comfortably but not a large sum sitting idle for a deposit.
- You are moving from another rental and your current deposit has not been returned yet — a common timing problem, and the one Obligo solves most cleanly.
- You would rather put that money toward movers, furniture or the first month of utilities.
A traditional cash deposit may suit you better if you prefer to settle everything up front and hold no ongoing authorization, or if you would rather not add another account to your move.
What Obligo does not change
- Screening. You still go through the standard application and screening for the home.
- Your responsibilities. Rent is still due on time, and damage beyond normal wear and tear is still yours to cover.
- The home you get. Deposit-free move-in is a payment option, not a different class of lease.
Obligo’s own terms govern the approval, the authorization and any charge made against it. Read them during the application rather than after.
Frequently asked questions about the Obligo deposit alternative
Do I still pay a security deposit if I use Obligo?
No. That is the point of the option: you are approved for a deposit-free move-in instead of paying a cash deposit up front.
How long does Obligo take to approve an application?
Most applicants receive a response within about an hour of applying.
Can I pay part of my deposit in cash and use Obligo for the rest?
No. Obligo must be used as your entire deposit solution and cannot be combined with any other deposit payment method.
What happens at the end of my lease?
If there is nothing owed — no unpaid rent, no damage beyond normal wear and tear — nothing is charged. If there is, it is charged against the authorization you set up when you applied, the same items a cash deposit would have covered.
Is Obligo available on every Legacy home?
Ask our leasing team about the specific home you are interested in. They will confirm whether the deposit alternative applies and send you the application link along with the landlord email to enter.
Ready to move in for less?
Browse available homes for rent across North Carolina and Texas, then talk to our leasing team about applying with Obligo. Every Legacy home also comes with the Resident Benefits Package, so you know what the monthly cost looks like before you commit to anything.