Student Guarantor Deed

[mckaymmc]

Evening.

I have a 20 yo attending University who has just presented me with a guarantor form and deed for signing and return tomorrow. I have guarantor him through previous years and I have checked the guarantor deeds against the advice on this or other forums. The wording of the latest deed is completely different and I have concerns for which I am going to write back to the letting agents and ask them to use a more agreeable and fairly worded deeds. Are me concerns and comments (in red) justified or am I being over cautious. I also don't have a copy of the AST and wont sign the deed without this

By an agreement (the 'Agreement') what is the agreement is this the AST? a copy of which is attached not provided? to this deed the Landlord lets to the Tenant named in the Agreement (the 'Tenant') the property described and known as________________

Prior to the signing of the Agreement it was agreed that the Guarantor should guarantee the performance what does performance cover is this their responsibilities under the AST, how do I guarantee performance surely all I guarantee is the LL losess from the tenant? by the Tenant__________________________ of the terms of the Agreement.

The Guarantor agrees with the Landlord to indemnify the Landlord against all losses This is open ended, this should be limited to rent, bills, and damage, incurred as a result of any failure by the Tenant to comply with the terms of the Agreement. Even if the Landlord gives the Tenant extra time to comply with any obligation in the Agreement, or does not insist upon its strict terms, this covenant remains fully effective What are the time frames for payment, Am I only guaranteeing a single Tenants responsibility of are all tenants jointly liable for rent, what about bills, deposits etc.

If the Guarantor consists of more than one person the Guarantor's obligations under this deed may be enforced against all such persons jointly and against each individually

The Guarantor's obligations under this deed are not restricted to the fixed term created by the Tenancy Agreement and remain fully effective during any continuation of the term. I cant agree to a rolling commitment, this is limited to the duration of the tenancy and extension of the tenancy should need by agreement.

The Guarantor acknowledges that he has been informed of his right to take legal advice on the effect of signing this deed. They want me to sign and return within 24 hours, Fat chance

SIGNED as a DEED in the presence of
the WITNESS named below and DELIVERED
by the GUARANTOR


Thanks in advance for any comments either way. I am also seeing what options I have for legal advice through work.

M

[efpom]

By an agreement (the 'Agreement') what is the agreement is this the AST? a copy of which is attached not provided? to this deed the Landlord lets to the Tenant named in the Agreement (the 'Tenant') the property described and known as________________

Probably the AST but you need to see a copy before signing this Guarantee.


Prior to the signing of the Agreement it was agreed that the Guarantor should guarantee the performance what does performance cover is this their responsibilities under the AST, how do I guarantee performance surely all I guarantee is the LL losess from the tenant? by the Tenant__________________________ of the terms of the Agreement.

You guarantee the performance of the AST by indemnifying the Landlord if performances by the Tenant fails.

The Guarantor agrees with the Landlord to indemnify the Landlord against all losses This is open ended, this should be limited to rent, bills, and damage, incurred as a result of any failure by the Tenant to comply with the terms of the Agreement.

You can rewrite this to say:

…against loss due to the tenant’s failure to abide the terms of the AST, such loss to be limited to arrears of rent, arrears of utility bills and any damage caused directly by the tenant, the loss caused by such damage to be limited to the amount of any deposit paid to the Landlord by the tenant

Even if the Landlord gives the Tenant extra time to comply with any obligation in the Agreement, or does not insist upon its strict terms, this covenant remains fully effective What are the time frames for payment, Am I only guaranteeing a single Tenants responsibility of are all tenants jointly liable for rent, what about bills, deposits etc.

You are guaranteeing the performance of the person named on the AST



The Guarantor's obligations under this deed are not restricted to the fixed term created by the Tenancy Agreement and remain fully effective during any continuation of the term. I cant agree to a rolling commitment, this is limited to the duration of the tenancy and extension of the tenancy should need by agreement.

Modify as above

The chance of the Landlord agreeing to any of this is unlikely