It is quite common to be asked to provide a deposit in student accommodation. Owners generally want a guarantor living in the UK, as it is easier for them to take legal action against a UK resident if they need it. Faced with the growing housing crisis, homeowners see real estate rental as a profession rather than a secondary issue. In many university towns, willing and solvent tenants do not fail to fill their properties. At the same time, the cost of renting and life as a whole far exceeded the annual increase in the student loan allowance. There are alternatives, including guarantor companies such as the unified Guarantor.com, that have been created as guarantors for students who do not have access to a guarantor. Many private landlords want a third party to be a rent guarantor before agreeing to rent a property to a student. It is important for anyone considering guarantors or for a student who has to ask someone to be a guarantor to fully understand what it is all about. The complication can occur as a surety if one of the students does not pay their rent. Technically, if this student and their guarantor do not pay, the remaining students and their guarantors are responsible. It is therefore important to be aware of the type of lease you are committed to. It is very common for student housing providers to ask potential tenants to provide a guarantor. More than 70% of student accommodation needs a UK-based guarantor.
STUDENT LETS, GUARANTEES AND LETTINGS But while guarantors are often associated with the student market, they can also be used for any tenant who a landlord feels may have difficulty paying rent (low income or benefits) or, in other ways, not looking after a property in a «tenant way.» If you`re not sure about the risk of being a guarantor or how to use the Housing Hand Guarantor Service to reduce the risk, please call us on 207 207 2052625 or email us [email protected]. Before you sign anything, you need to be aware of your role in the treaty, and for that you need to know what a guarantor is. In short, a rent guarantor is someone who signs the contract with the tenant and thus agrees to pay the rent, damages and all other unpaid bills for the duration of the lease if the tenant cannot pay himself.