Gaurantor question...

yoda84

Hey Guys,
I've signed up for a new property to rent and my friend has agreed to be my gaurantor (as he has an excellent credit rating & is in a well paying, secure job). The only problem is we have now filled in teh forms but he has had to state that he could be emmigrating to Austraila (still within the police force) around March next year.

Do you think that him moving away will be enough for the letting agent to deny my application, or should it still be OK?

Cheers
Darren

NoMoreFaith_2

Its unlikely that the agency would reject the guarantor because they might move away, although it depends on the length of the tenancy your are applying for.

Worst case scenario is the the agent will only sign you for a 6 month AST, and request a new guarantor at the end of it.. but again, I doubt its likely unless they are a fantastic agency with the landlords best interests at heart... judge how likely that is for yourself.

yoda84

thanks for that! cheer'd me up no end

It is a 6monthly renewable contract, so maybe they will suggest a new garantor at the end of the first six months, but aslong as the rent is paid on time every month for those first 6months maybe it will be ok. I'll find out in a week or so and let you know!

Thanks again
Darren

tootiefrooties

from my own experience with letting agencies, they take and verify all guarantor info for your initial application, but when you renew the tenancy it's a case of signing a letter and a cheque (if they charge for renewals). You don't have to provide info all over again, so as long as they can verify him as a guarantor initially, it won't affect your tenancy if he moves away part way through. Just make sure they always have a phone number for him - if for some reason they need to get in touch with him, and can't, they will want to know why.

yoda84

hi piefacerecords,
Thanks for the info! Getting in touch with him when he's moved won't be a problem at all so fingers crossed! i'll let you know how I get on.

Darren