Guarantor for student in shared house

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    Guarantor for student in shared house

    I have been asked to sign a guarantor agreement for my son who will share a house with four other students. The guarantee referrs to a joint assured shorthold tenancy which has not yet been signed and states that I am guranteeing my sons share "only" of his obligations under the tenancy, the LL has told all sharers that they must have guarantors, and that they are only signing for each individuals' share of the rent, however I am concerned that the guarantee will commit me to all of the rent if the sharers defaulted, as it will be joint tenancy which would mean his share of the obligations could relate to all of the rent unpaid? Instead of just the rent for his room. Any advice on signing this guarantee?

    #2
    Agree to cover one fifth of the rent for the period defined (ie your son's 'share') and a maximum of one fifth of any other claim made against you as G (damages etc).

    I am not a legal bod and i am sure more accurate advice will be forthcoming shortly !
    A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
    W.Churchill

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      #3
      Tom,

      If your son signs a contract that says he's 'joint and severally liable' then you can be sure as the day is long, that your son's share is all the rent, every month, whether the others pay or not. In light of that I would probably not accept that wording because this is something you want to be really clear on.

      You need an agreeable statement that makes clear what 'his share' actually constitutes, and if possible, specify what, if any caps you're willing to guarantor. What you don't want is one of his housemates to move out and chase you under the wording for that '1/5' of unpaid rent you agreed to, whether your son was the 'cause' or not.


      I would also make sure that the guarantor agreement stated that it was valid if and only if, for a tenancy that starts in a specified month, at a specified address, with all the tenants named and crucially, how for how long your guarantor role holds for. What you don't want is to sign a form that makes you a perpetual guarantor for your son at any property of the landlords, at any time, with anyone.

      Comment


        #4
        Originally posted by Wickerman
        the guarantee i get signed is for 100% of the Ts liability and 100% of joint liability for damages eg property being damaged

        No problems so far and 100+ guaratentees signed so far this year.
        But how do you get round the fact that in a joint tenancy, any one T's liability is 100% of joint liability. The concept of any one T's 'individual share/portion of total liability' in a joint contract, does not exist in law.

        I agree with silverbak that as the guarantor, it is in your interests to insist on a specified amount (say - one fifth, or whatever your son usually contributes) beyond which you cannot be held liable - but even then, if it is not your son who has failed to pay the rent, and LL exercises his right to chase all Ts 'jointly and severally' when one of the other housemates has not paid it, I don't think there is legally any way you can avoid that.

        If anyone with more legal knowledge knows otherwise, I would be delighted to learn of it.
        'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

        Comment


          #5
          Originally posted by mind the gap View Post
          But how do you get round the fact that in a joint tenancy, any one T's liability is 100% of joint liability. The concept of any one T's 'individual share/portion of total liability' in a joint contract, does not exist in law.

          I agree with silverbak that as the guarantor, it is in your interests to insist on a specified amount (say - one fifth, or whatever your son usually contributes) beyond which you cannot be held liable - but even then, if it is not your son who has failed to pay the rent, and LL exercises his right to chase all Ts 'jointly and severally' when one of the other housemates has not paid it, I don't think there is legally any way you can avoid that.

          If anyone with more legal knowledge knows otherwise, I would be delighted to learn of it.
          This is 100% accurate. Many parent guarantors so discover, to their horror, only when offspring receives demand to pay rent attributable to offspring's co-tenant in default!
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

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