[SC] Lease lock fee?

I’m about to sign a lease on an apartment. I have never seen this lease lock fee before. Is it legal for a landlord, in this case a company, to require a mandatory nonrefundable monthly “lease lock fee”? I believe it’s in lieu of a security deposit, but they’ve said I qualify for a $0 security deposit.

I’d honestly rather pay a traditional security deposit and go without this lease lock fee that’s going to end up costing me a lot of money I’ll never get back. When I brought this up, they’ve assured me that the lease lock fee is mandatory. Seems odd.

If anyone has some information on this and if it’s actually legal that would be so helpful. Do I have the right to insist on a traditional security deposit instead?