My tenant suggested Igglo Vuokravakuus as a deposit. What does it mean?

Igglo Vuokravakuus is a service that replaces the normal deposit that the tenant pays to the landlord. In Igglo Vuokravakuus the tenant pays a monthly/yearly fee to Igglo and Igglo guarantees the deposit for the landlord if something happens. So, with this deposit service the deposit amount doesn't move anywhere in advance. It's a guarantee and the money moves when it's needed and when there is a proper reason for it. The same way as in the traditional deposit, the landlord has to have a proper reason not to give the deposit money back to the tenant if that's the case.

Then if something happens for the apartment, which causes some costs for the landlord and is a proper reason to use the deposit, the landlord will get money from Igglo and Igglo will charge the money from the tenant afterwards. Using Igglo Vuokravakuus only requires the landlord to accept the service through his/her email, the tenant does everything else in the ordering process.

This quarantee service can be ordered as a landlord as well, and then the name of the service is Igglo Vakuusturva. Read here what are the differences.