Son Accomodation in London

runtwoshoes

Hi there

At the moment my son is in halls at Uni in London. He and three of his friends are looking at renting a house next year, they have found something they like but have asked myself and the other sets of parents to sign a joint tenancy agreement.

I don't really want to do this as it will make me liable for any rent not paid by the other boys if they just up and leave for whatever reason. I would prefer a individual tenancy agreement which some of my friends kids at other uni's seem to have. This would mean I was just responsible for my son's rent.

Has anyone else been through this ? What do you think ? :think:

Thanks

silvercar

Most student tenancies are set up so that the students are the tenants and each student has his/her parent as guarantor. Sounds like yours is slightly different, but either way you would be responsible if your son didn't meet his obligations. As virtually all student houses are let on a joint tenancy basis, your student will be legally responsible whether or not his/ her rent is paid if another tenant fails to pay.

I suspect that some of your friends are acting as guarantors for their student children. This may appear that they are only responsible for their child, but they can be held liable for any rent not paid by anyone in the house.

amiehall

I've never signed a joint tenancy agreement and probably never would unless it was with a partner. It's not all that common to have to do it. I can see why it appeals to the landlord but I'm sure you can find local agents that will give separate tenancies.

yertiz_2

Last year my son had some experience of Joint Tenancy with a student disappearing and not paying his rent and electricity bill, so the other students ( and parents) clubbed together and paid. Fortunately the rent was for the last month but this could have happened any time.
He is now in another house joint tenancy with 3 students and had to set up a separate bank account in just their names and have a SO from their personal bank accounts paid in. Most student tenancies state 'property only to be let as a whole.' We are Guarantors for my son only and our agreement actually states that we are only liable if he defaults. Also watch out for Agency fees which can amount to several hundred pounds for admin fees and setting up a guarantor.
Most Uni websites will have an 'accommodation' section and will have information on renting privately and a list of recommended LL's, they may even know of some who do not require joint tenancy. Worth a try, hope your search goes well.

Callie22

yertiz wrote: »

He is now in another house joint tenancy with 3 students and had to set up a separate bank account in just their names and have a SO from their personal bank accounts paid in.

Not meaning to lecture, but it's a really, really bad idea to open a joint account with housemates, especially when you're a student. I had so many friends who were stung by that at uni, with people taking money out of joint bank accounts, and having to leave the accounts open because they couldn't get hold of people to close them. You really don't want to be starting your working life being financially linked to a complete stranger.