Parent guarantor issue

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    Parent guarantor issue

    6 students want to rent a house. 1 student proposed only parent to be guarantor - but parent doesn't fit LL/ agent criteria (no job/ no owned property). Student doesn't want to lose house (next autumn rental). Any good suggestions for student to propose to mates and the agent?
    Would paying deposit and 3-4months rent upfront (by summer) be enough?

    #2
    There's no black and white answer to that, it depends on the landlord/agent's own criteria.

    If they're all signing a joint and several tenancy agreement everyone is responsible for all of the rent, so, in theory, if one doesn't pay, the other 5 would have to make up the shortfall.
    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


      #3
      As an LL I tend to overlook it if one person cannot meet the criteria, I get the parent to sign anyway, as it adds pressure to the students to behave, but as its joint and several you can just sue the others.
      However from the students point of view, if LL won't change his mind then that's tough to get around.

      Comment


        #4
        First see if the landlord will accept the 6 with one parent not meeting the criteria - my own child was in that position and the landlord did accept it as there was more than enough cover from the other parents. As one of the other parents I was not too happy effectively covering someone else's child but it worked.

        If they wont then there are several possible options - paying some rent up front (6 months is the usual offer), finding another guarantor, seeing if the university will act as guarantor ( a few will, not many), and if all else fails https://www.housinghand.co.uk/guarantor-service/

        Comment


          #5
          thanks
          Student kind of got round it with a very kind other parent. They have agreed to be guarantor. Phew.
          A suggestion has been made that funds are paid up front if available by the time the tenancy starts - apx half the term rent. Thanks for everyone's advice....

          Comment

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