When you might need a guarantorSome landlords and agents ask for a guarantor before they’ll offer you a tenancy. A guarantor agrees to pay your rent if you don’t pay it. They sign an agreement which confirms their responsibilities and when they have to pay.
People also ask
Can a landlord ask a tenant to be a guarantor?
However, a landlord has the right to request a rent guarantor whenever they think there is a risk their new tenant might not pay their rent as and when they should. Who can be a rent guarantor? In most cases, a rent guarantor is a family member or close family friend.
Do you need a guarantor to rent a house in London?
If you檙e renting in London, you檒l need to go through credit checks and referencing as part of the rental application process. If you檙e new to renting or you can provide a reference from a previous landlord, you might be asked to provide a guarantor.
What are the responsibilities of a guarantor on a rental property?
Guarantors are responsible for covering any rent arrears and damage to the property if the tenant defaults or can pay for whatever reason. So, it not something to be taken lightly. In addition, a guarantor is usually responsible for the whole property, even in the case of a joint tenancy.
Do I need a rent guarantor as a student?
The main reason landlords might require you to have a rent guarantor is because they feel there is a risk you might not pay your rent, on time and in full. Because of this, student tenants are typically required to provide a guarantor.