Thats an interesting one. This would be very handy for both landlords and tennants, especially after the person has built up a history. Certainly eliminates a lot of trust related issues, thats for sure. Im not sure i understand how it eliminates the need for a deposit though. I would think landlords would still want first and last months rent upfront to stop tenants from skipping their last payment and a deposit to hold the property. Edit: I checked the site and it seems that renters can essentially buy "insurance" in place of the deposit. Canopy doesnt market it as insurance but that's basically what it is. So I guess as long as the landlord trusts Canopy to pay on the renters behalf if the renter drops out, it does eliminate the deposit. Personally if I were a renter I would rather pay the deposit (which goes towards first months rent) rather then paying a fee that I wouldnt get back. I guess its up to the individual whether they want to pay a smaller fee that they dont get back or pay a larger sum that they do. Personal preference i guess.
Very cool app regardless