Iva

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    Iva

    Hi All,

    Have a small one bed flat which has had a short void period. Potential tenant has disclosed to LA prior to reference/credit checks that she is subject to an IVA. I don’t have specifics of debt amount/payment periods or number of creditors yet. T parents are willing to stand as guarantors? Anyone got any views? I have rent guarantee in place, i need to check if they would even cover. Whats the position if T defaults on rent legally with an IVA on place? What about if parents say we are not paying, having signed as guarantors the TA?

    thanks in advance

    #2
    Under most circumstances (e.g. after 6 months) the parents won't have to pay anyway as guarantors. So the question is academic. I would not accept them as tenants with parents as guarantors **under the current legislative regime**.

    What you could do is make the parents co tenants (if they have a house fully paid off and plenty of assets).

    Comment


      #3
      Your rent guarantee insurer won't accept a tenant with an IVA in place (I'd be amazed if they'd even consider it).
      Don't let to someone who has an IVA.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment

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