What is the difference between a security deposit and a Sing-Security Deposit (SSD) ?
Does the Sing-Security Deposit (SSD) provide the Landlord with the same security as a traditional security deposit?
Yes, exactly the same value.
The Landlord keeps the same rights to use the SSD for any breach from the Tenant side. If there is any unpaid rent or damage caused by the Tenant, the Landlord has the right to deduct the mutually agreed amount from the SSD and Sing-Guarantee will claim the amount back from the Tenant.
The only difference is that at the end of the lease, the full or remaining amount of SSD is returned back to Sing-Guarantee.