Letting Guarantor

[EXC]

So my niece has found a private let at university with 4 other students and the agent wants a guarantor.

Is the attached a fairly standard form? It seems to be asking for a lot of detailed sensitive information. Also they're not specifying whom or what the guarantor agreement relates to. Is it me or is this a bit Micky Mouse?

I'd be particularly interested to hear the thoughts of islandgirl

[atticus]

It looks like basic due diligence on the credit worthiness of the guarantor.

[islandgirl]

Hi EXC - this looks very much like the guarantee forms I have had to fill in. It was harder for me as I am self employed so had to provide accounts! One actually refused me as a guarantor because I put that I got income from "property"! They do not allow that as an occupation - you could not make it up!
The company is checking you earn enough to pay if the student defaults. I have had them requesting payslips etc in the past so you are getting off lightly! The big issue for me is that the guarantors are all technically guaranteeing the whole rent I believe (joint and several) which was always worrying. You may wish to clarify or at least ensure that the other students all have guarantors. Remember if you have not seen the AST before you sign I believe the guarantor agreement would not stand up in court. Welcome to the world of student lets! Wait till you are guaranteeing their first flat after uni (so not a student one) and have to sort being a guarantor for that! Good luck.

[EXC]

Ok thanks, very helpful!

The other students have been asked to provide guarantors. But can the fact that the form was silent on whom it referred to seems to go to your point that it might apply jointly and severally regardless?

What's AST?

[atticus]

That is not a guarantee. It is a form to give information about yourself. I expect that if accepted you will be asked to sign a guarantee document. If this document is all that you are asked to sign, the landlord('s agent) will have cocked up, which is not a rare occurrence, and you will not have guaranteed anything.

If given a guarantee to sign, check very carefully what it covers, following up islandgirl's point.

AST = Assured Shorthold Tenancy.

[islandgirl]

So if you have not seen the actual document your child has to sign but are asked to sign the guarantee I believe it is not enforceable. In the end you will probably end up signing, even if joint and several, because your wee offspring has their heart set on this perfect abode!

[EXC]

Ok understood, thanks very much to both of you.

In the end you will probably end up signing, even if joint and several, because your wee offspring has their heart set on this perfect abode!

I know that very well!

But we're really keen she secures it and is able to live independently and with the friends she's made at uni, which has been difficult for her. She fell ill in her mid teens which confined her to a wheelchair and has left her with cognitive issues. The property is the only one we've yet come across which has the access she needs

It's been very difficult but she's amazingly resilient.

[islandgirl]

What an inspiring post. Well done to your daughter. Clearly even more reason why you may have to set aside some of your worries and sign a guarantor agreement anyway. My student experience has not been too awful. One was dirty on arrival and we noted that on the check in inventory. Then they tried to charge us for cleaning at the end when it was left in a better state than when in arrived. We put in a dispute with the deposit scheme and it went to an adjudicator. Fortunately we had pics of move in condition and the LL lost and we got the deposit back in full. I think my biggest worry was always the other students not paying and me ending up liable for the lot but (up till now) that hasn't happened. Good luck to your daughter - she sounds absolutely amazing.