A guarantor should be a friend or family member (usually a parent) that is willing to guarantee the rent payments on your behalf. This is standard practice with student rental properties due to your employment status. A guarantor is someone who agrees to sign a guarantee agreement which guarantee’s your obligations in the tenancy agreement. The guarantor should be in full time employment or have a work contract in place for the duration of your tenancy. If your guarantor does not have full time employment or a work contract, for example they may be retired, savings statements may be requested to show their ability to guarantee you. Your guarantor should be based in England, Northern Ireland, Scotland or Wales as the property laws are different outside of different countries. It is not possible to have a guarantor based elsewhere. If you cannot provide a suitable guarantor, you will need to ensure your rent is paid with cleared funds, in full, prior to the start of your contract.
Other FAQs in this category (Legal and Financial):
- How does the SweetSpot loyalty scheme work?
- Can I pay with foreign currency or travellers cheques?
- When will I get my deposit back?
- How do I make an insurance claim?
- What do I do about insurance?
- Will my bank charge me to make a bank transfer?
- Do I need to pay council tax?
- Can I terminate my contract before the agreed date?
- Can I change my contract after I have signed it?
