How Sing-Security Deposit Works ?
What is a Sing-Security Deposit ?
You are about to sign a lease and your landlord and/or its agent is asking you to provide a security deposit in cash.
The security deposit is typically money equivalent to two months rent, to be used by the landlord to pay for any damages caused by the tenant during the tenor of the lease or collect rent in arrears in the event of default by the tenant under the lease agreement.
With Sing-Security Deposit, we give the same amount of cash to your Landlord. We also give you a full check-in and ckeck-out inspection to reduce all risk of litigation at the end of the lease. You just have to pay us a service fee.
How much does it cost?
You will be charged with a yearly service fee, which depends of the amount of the security deposit amount stated in your lease agreement. There is no more cost or hidden fees.
If your lease is a two years lease, at the end of the first year you will have to pay the same fee for the second year.
Sing-Security Deposit is not an insurance
The goal of our service is to ease tenant access to leases by providing innovative solutions that improve your rental experience, among them :
- Save cash up-front when you move-in
- Give a professional check-in and check-out inspection with photos, 360 filming and even a comprehensive report to reduce litigation risks
- Gain access to our professional contractors with discounted rates anytime during your lease to maintain your unit in top condition
However, Sing-Security Deposit is not an insurance product. You remain ultimately liable for any claims from your Landlord.
Follow the path to your Sing-Guarantee Certificate
- Fill in our registration form:
- Online, by giving basic details about yourself
You only need to attach to your application, a copy of your lease agreement, your employment details and your passport/NRIC/valid employment pass
Once approved, you can proceed to make payment for your fees
- Our team will then collect documents like the Letter of Intent and Tenancy Agreement to draft the agreement. When signed, we will issue payment of the security deposit to your Landlord.