Advice re. being a guarantor for son

RobertoMoir

Ellie2758 wrote: »

Can anybody advise me HOW i can ensure that I dont end up owing thousands on his behalf?! Obviously I am only guaranteeing HIS portion of the rent. Is it possible for me to pay that portion to the landlord and then debit it from his account myself?

Sorry to ramble on.

The only way to ensure you don't get left holding the bag is to not be a guarantor.

You may find also that depending on the exact terms of the rental agreement that all the people are jointly and severally liable for the entire amount, which means that ultimately you could be too, if you act as your son's guarantor.

StudentMoneySaver

Ellie2758 - It may be worth you and your son having a read of Shelter's advice on Assured Shorthold Tenancies (and general private renting information)
http://england.shelter.org.uk/get_advice/renting_and_leasehold/private_tenancies/assured_shorthold_tenancies

The information on the link above is only valid for England.

poppysarah

Ellie2758 wrote: »

Also, he says, because he was ringing up about jobs. This month he has gone over by £20 because he has been ringing estate agents on 08 numbers. I did warn him some time back that this was not a good idea but it seems he forgot. He always spends what he has. Never plans ahead. Will spend out on entertainment despite having limited income. I suppose now that he finally has a job this will not be such a problem but I am still worried.


.

The only way to guarantee you don't end up financially screwed because of him is to NOT be guarantor.

And take the forms to a solicitor to check you won't get done for anyone elses rent.

But seriously don't do it. He's 18 and incapable of managing his own affairs and will rely on you bailing him out.

sp1987

Wee_Willy_Harris wrote: »

And forget to protect the deposit, and forget about the gas safety cert, and fire regs, and the rules about illegal eviction, and harrassment. Some LLs don't "forget", they have no choice because it's the only way they get tenants.

Deposit protected within the first two days, gas safety certificate seen, council checked HMO legalities (I think there was some issue about kitchen worktop size that the LL wanted checked, was all fine). Repairs executed in hours for unneccessary (well, not neccessary to repair in an emergency anyway) facilities. Viewings were often rejected on the property as ''not all students have said it is ok''. In fact we viewed the property by just knocking on the door and asking the previous students as the LL wouldn't show us around without checking it was accepted and not written notice alone that nobody saw on the mat. We returned the favour by showing round a couple of groups who just turned up hopeful too. We were keen to show people around to get it snapped up as he was such a nice bloke. Full deposit was returned within days without any requests needing to be made.

Last letting agent; credit checked, references checked, all appearing above board (massive national company). No gas (as I doubt they would have had a safety certificate). Claimed to have sent a deposit protection certificate that was never received...changed schemes and were never notified of new scheme, claiming deposit received on totally different dates. Claimed damage after sending response letters mid tenancy noting that damage pre-existed the tenancy period. I could go on.

One would expect the naive student landlord to be awful. He was absolutely brilliant. The ''well regarded'' national firm and long standing landlord passed the buck between one another. Much easier to leave than put up with back and fourth whinging. I just take it on the basis that if the current tenants are treated well, I have a good chance too.

Sometimes you can get lucky with small outfits and very unlucky with large companies.

Either way I've taken it far off the point. I certainly would not want to be a guarantor for the rent of an 18 year old, (or anyone else) especially if you feel he is financially irresponsible. I would rather pay the rent for somebody and hope they pay me back than guarantee for an unspecified period to pay an unspecified amount. If you can't afford to stump up the rent in a lump sum, you cannot afford to guarantee it anyway.

Ellie2758

Right thanks for all the info folks, especially about being liable for ALL the housemates should they default :eek:.

I've told him to look on Gumtree where all bills are included. Have found a couple myself but neither were suitable - one wanted older renters and the other was too far out for somebody without transport.

nicter

You could try spareroom co uk. Good luck

puddy

i was just about to say about spareroom.com, its much better than gumtree. a room is the way this boy needs to go, all bills are usually included, they often dont need huge deposits, sometimes they dont even need references (on spareroom) and then he gets to keep his job and demonstrate financial liability, gaining a reference for when he wants to rent a house or flat later in life. the tenancy will then just be for that room and nothing else, its much safer

Ellie2758

Thanks you two.

majpurple

Hello all
I've just come up with the same issue. My son is due to go into a rented house for his second year at uni, having spent the first in hall. He has a student loan which should easily cover this rent (it wasn't enough for the hall cost) but I have just received stuff from the agent and a form called Property risks Tenant Reference Application. Any advice? Should I quote the name of the company, to see if anyone knows if they are trustworthy?
Mary

Jowo_2

majpurple wrote: »

. He has a student loan which should easily cover this rent (it wasn't enough for the hall cost)

Most halls of residence include bills, some provide meals, too.

Are you comparing like with like?

His private tenancy will probably require him to pay council tax, water, gas, electricity, telephone, broadband, then groceries, and if its not walking distance to the uni, travel costs, too. How does it compare costwise once all these extras are factored in?

It is the norm for a tenant applying for private accommodation to complete a comprehensive application form to provide details about the applicant, whether they have CCJs, their previous addresses/landlord, employer, next of kin, national insurance number, date of birth etc. Is that the type of form you are referring to?