Landlord, building insurance and Guarantor

neverdespairgirl

GDB2222 wrote: »

It should cover 2 months rent for a S8 notice, plus say 3 months to gain possession, less the deposit. In practice, it means the guarantor will put pressure on the tenant to behave. £5k is quite sufficient for that purpose unless this is a luxury Mayfair flat.

£5k is nothing for 5 months' rent on a Mayfair flat, it's more like 5 months on a small flat elsewhere in central London. There are, for example, only 9 places in WC1 for less than £1k a month.

lightSwitch_3

OK Thanks guys you have been a great help.

I've got the landlord to agree to a clause that limits my liability to the rent and contents only. I have found comprehensive contents cover of up to £17000 plus lots of other things for £133. I think it is a good price but I will ring around for more.

Now all I have to do is keep my girlfriend happy for 12 month. I've never managed that before with her or other girlfriends so let us see what happens.

I keep you all posted if things go to pot. I hope I don't regret this day.:eek:

sooz

neverdespairgirl wrote: »

There are, for example, only 9 places in WC1 for less than £1k a month.

And I don't want to go near any of them without full safety equipment

sooz

lightSwitch wrote: »

OK Thanks guys you have been a great help.

I've got the landlord to agree to a clause that limits my liability to the rent and contents only. I have found comprehensive contents cover of up to £17000 plus lots of other things for £133. I think it is a good price but I will ring around for more.

Now all I have to do is keep my girlfriend happy for 12 month. I've never managed that before with her or other girlfriends so let us see what happens.

I keep you all posted if things go to pot. I hope I don't regret this day.:eek:

Good luck
She must think she's onto a good thing, as you've paid her deposit, guaranteed her rent, & are paying her contents insurance. What exactly do you get in return? (apart from the obvious...)

lightSwitch_3

Soz
Apart from the obvious, she will be repaying the deposit, contents insurance and credit check when she gets a job.
However she has two little girls and I wanted to help her give them a better place to grow up.
I've exposed myself to the unknown here both financially and otherwise, but sometimes you just have to do the right thing. I know if I were in her position I would like for someone to give me a leg up till I'm on my feet. If she makes me regret it then I'll know that doing the right thing isn't so right.

Also I learned a lot from this process so far and she is not in the flat yet.

lightSwitch_3

An Update on this thread.

For those of you who warned me about being a guarantor you were correct.
My girlfriend has turned out to be a !!!!!. I helped her and her children out of a depressing situation and she !!!!ed in my face. Now that she is in a cosy flat in a good area she has ended our relationship and is irresponsibly spending a lot of the rent money the council gives her knowing that I will be forced to supplement the rent. How diabolical this person has turned out to be. I'm worried that she will up and leave the flat if she gets an offer for a council flat. If that happens then the cost to me will be at least £7000 and counting.
I feel so stupid.

My lesson in this. NEVER help a woman that is in distress, at best she will not appreciate it, at worst she will stab you in the back.
I don't know what is wrong with women. They have lost so much dignity in the last 30 years.

poppysarah

Tell the landlord she's getting LHA and that he needs to have it paid direct. The sooner he knows the sooner he can get that bit sorted.

debtfreein4years

sorry to hear that your relationship didnt work out. people that use people like that are absolutly disgusting and i sincerely hope that you manage to get out of the situation with the least financial impact to yourself.

Could you perhaps go to the agency and landlord and withdraw being a guarentor?

good luck

lightSwitch_3

Poppy,
he knows she is DSS hence my guarantorship

DebtFree,

Thanks for the sympathy. The landlord has a sweet legal deal, he would never agree to annulling it. Whatever happens he gets paid. I can leave the country and not pay a penny if she defaults but that would mess up my credit score. No I'm pretty much screwed. Today She told me that she keeps the heating on all night. She is being wasteful because she knows I'm going to have to cough up. Last month with minimum use she paid (meaning me) £80 so I'm expecting about £200 for this month.
My stupidity is beyond belief.

paintpot

Lightswitch, I won't say I told you so because that would be horrible. I feel for you genuinely as you felt you were doing the right thing and she has taken advantage of your good nature. I am sure you now realise that mixing finances with people can end in tears and I am sure you have learnt many lessons. I am saying this as much for you as anyone else reading and I really do not want this to appear in any way as me rubbing your nose in it.

The only glimmer of hope I can give you if she is intent on bleeding you dry and not paying the rent etc is that the guarantor document may have a loophole in it. Landlordzone has lots of info on guarantor documents and what is required for it to be a legally binding document. You could research and/or post over there.

In respect of the utilities, if they are in her name name then only she is responsible for those bills not you despite the guarantor document, same applies if they are in the landlord's name. She can run them up to her heart's content. It will only be a problem if they are in your name. Unless you guaranteed those too which is something I've never heard of

Good luck.