Replacement guarantor

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    Replacement guarantor

    Tenant is in arrears and unlikely to be able to afford to pay it. I have recently found out that guarantor has just had his house re-possessed! So chances of getting arrears from him is slim.

    What's the procedure for getting tenant to provide a new guarantor?

    #2
    Originally posted by ir50 View Post
    What's the procedure for getting tenant to provide a new guarantor?
    If the tenancy is still in the fixed term, not a lot.

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      #3
      You can try, but I doubt anyone will stand guarantor in situation, even if AST permits replacement,. Get them in a room together and explain situation is not acceptable, I did this once and after reading riot act money very quickly appeared, I may have been lucky however, the threat of eviction, court action , adverse credit history for existing tenant may assist it certainly assisted me.

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        #4
        Tenancy is now periodic if it makes much difference

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