Guarantors

As well as signing a tenancy agreement, usually landlords and managing agents will ask that you provide them with the contact details of someone you know (with financial stability), who owns property in the UK. Some landlords may accept international guarantors; please check with the landlord.

This person acts as your guarantor and is responsible for any unpaid rent or payments to the landlord for damage to the property should you not be able to pay.

Many landlords and agents will not allow a tenancy to proceed until all prospective tenants have provided an acceptable guarantor.

There are two ways for someone to become a guarantor:

• On the tenancy agreement, there may be a clause that sets out the liability of the guarantor, which the guarantor will sign.
• There may be a separate form for the guarantor to sign—a 'special deed of guarantee'. In this case, a copy of the tenancy agreement must be supplied to the guarantor so they know what they are guaranteeing.

Do ask the landlord if it’s possible to proceed without a guarantor. However, the landlord may ask you to pay a large portion of rent upfront; sometimes this may be the rent for the full length of the tenancy. Please ensure that you are completely happy with the property, landlord, and contract before paying any rent upfront.

There are companies that offer guarantor services; however, they will charge a fee. Read the terms and conditions carefully. Double-check with the landlord before using a private company to act as your guarantor.

In a joint tenancy, each tenant is liable for the rent for the whole property and the condition of the whole property. Each tenant will have a guarantor, so in theory, each guarantor is jointly liable for money owed to the landlord should any of the tenants or other guarantors not pay.

Unfortunately, some guarantors may not realise this. They may only think they are liable for the one tenant they know and are guaranteeing. However, in a joint tenancy, this is not the case.