Guarantor for student in shared house

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • 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

    Comment


    • #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).

          Comment

          Latest Activity

          Collapse

          • Referencing question
            kangoo1
            A couple wants to rent from me, she is on maternity leave and will not be returning to her previous employment, he is permanently employed and moving due to a job transfer. I have referenced him for the full rent and his guarantor has been successfully referenced.
            I am going to prepare the ast...
            22-07-2017, 17:19 PM
          • Claiming for protected deposit
            mandm
            This is an interesting one, got me into a spin.
            Tenants signed AST but decided to leave after 6 months and 3 days (problem with moving) using the break clause in the AST. I protected the deposit using DPS (Insured) and returned the deposit minus deductions when the moved out.
            I served the...
            21-07-2017, 08:00 AM
          • Reply to Claiming for protected deposit
            JK0
            I'll leave it at that. I'm not going to get into one of JPK's interminable arguments.
            22-07-2017, 16:28 PM
          • Discussion - GDPR and implications on landlords
            MrShed
            I've just posted something on GDPR and then wondered whether it had been discussed on here before - a quick search implies its never been mentioned.

            I thought I would raise a topic to discuss it and the implications on landlords.In effect this is a replacement of the Data Protection Act...
            20-07-2017, 15:01 PM
          • Reply to Discussion - GDPR and implications on landlords
            jpkeates
            That's simply one of the Schedule 2 exemptions which, if met, allows a process using personal data at all - all the other principles still apply in parallel (where it can be stored, be not excessive, kept up to date etc).

            So, while it might be OK because it relates to a contract, there...
            22-07-2017, 15:22 PM
          • Excessive estate agent fees
            Cml241
            I have a property which I started renting out via an agency. When the contract started, they found new tenants, did the relevant checks etc and charged an upfront fee which equates to approx one month's rent. As one year has almost passed, the agent has approached me asking if I want them to 'renegotiate'...
            21-07-2017, 16:26 PM
          • Reply to Excessive estate agent fees
            mariner
            A new 12 month fixed term does provide LL & T with extra security but can lead to complications for either if their resp circumstances/legislation change during the new AST.
            Personally, I would prefer if a orig AST was for a fixed 6 month term, followed by an SPT that required both LL &...
            22-07-2017, 14:09 PM
          • Reply to Discussion - GDPR and implications on landlords
            jjlandlord
            In this case there should be no problem because:...
            22-07-2017, 12:30 PM
          • Reply to Excessive estate agent fees
            jpkeates
            I'm not sure they're "lying", they're just making some assumptions.

            The agent can't decide if something is "too" risky or not - there are upsides and downsides to having a new fixed term agreement, and they're right to point out, for example, that the income would be...
            22-07-2017, 12:28 PM
          • Reply to Discussion - GDPR and implications on landlords
            jpkeates
            Unless the tenant has given consent for the data to be used in this way, probably.

            There's a grey area with this kind of data, because it's obviously been obtained for a purpose (which is to facilitate the renting of a property) and that's what it's being used for.
            There's usually...
            22-07-2017, 12:23 PM
          Working...
          X