Guarantor for daughter's rent

damsonjam

unfortunately she doesn't have many options..there is a shortage of properties and they're all desperate to get sorted out for next year..and the letting agents seem to be all the same ..

damsonjam

jjlandlord wrote: »

If your daughter is a joint-tenant, she is jointly and severally liable for the whole of the rent and there is no such thing as 'her share' of the rent.

This means that, in any case, "limiting your liability to your own daughter" does not mean much in terms of preventing you from having to pay for others.

This is interesting..so..unsatisfactory as it seems, the guarantor term doesn't make it any worse than it already is? I'm making a mountain out of a molehill? :-)

BitterAndTwisted

I don't understand your question. Being a guarantor for a tenant on a joint-and several tenancy agreement couldn't possibly be worse for you. As she's a student with limited resources to cover the other tenants rents, it's unlikely that the LL/agent will allow her a tenancy without a guarantor with or without her rent being being paid by you in advance.

What she really needs to find is a room in an HMO where you will be guaranteeing solely her rent and no-one else's. If she says she can't find one, it's probably bunkum. She likely wants to share with these Uni pals and not anyone else.

AdrianC

The whole role of guarantor is simple. If the tenant doesn't pay what they owe, then the landlord/agent know that the guarantor has an obligation to do so.

If you don't think your daughter will do a runner, then you're at zero risk of having to pay.

The confusion and fear seems to be arising because of the joint-and-several making the daughter liable for the entirety of the rent if her housemates do a runner on her. She's an independent adult. She knows her future housemates.

If she's happy to take that on, and trust those flatmates not to do a runner on her, then that's her lookout.

If she's happy with that, AND you trust her not to do a runner on you, then you're still at zero risk.

The credit checking is because the landlord/agent want to know that the guarantee is worth having. Remember, they're accepting your daughter's word that she can and will pay them the entirety of the contract duration's rent for the entire house if required. You're being asked to provide a guarantee to that, in case she can't/doesn't.

And, of course, you trust that she will, don't you? Because, of course, your daughter wouldn't possibly sign a contract she can't deliver on... So it's zero risk to you, right?

silvercar

I'm afraid this is the way with student houses.

Landlords only offer joint tenancies and they will only give tenancies with guarantors.

The only saving grace seems to be that letting agents in the student market do not seem to do the necessary paperwork to a high standard, so often they won't require the guarantor signature be witnessed or that the guarantor contract is executed as a deed. Without these points there is every chance that the guarantor contract would fail in court.

Unfortunately students do back out of contracts. Most often because a student drops out of university and staying in the student house means being singly liable for the whole council tax for the property (less 25% discount) making it unaffordable. So the student leaves, without a replacement student the others have to rely on the missing one paying up - which may be impossible if they have dropped out and have no income.

CLAPTON

AdrianC wrote: »

The whole role of guarantor is simple. If the tenant doesn't pay what they owe, then the landlord/agent know that the guarantor has an obligation to do so.

If you don't think your daughter will do a runner, then you're at zero risk of having to pay.

The confusion and fear seems to be arising because of the joint-and-several making the daughter liable for the entirety of the rent if her housemates do a runner on her. She's an independent adult. She knows her future housemates.

If she's happy to take that on, and trust those flatmates not to do a runner on her, then that's her lookout.

If she's happy with that, AND you trust her not to do a runner on you, then you're still at zero risk.

The credit checking is because the landlord/agent want to know that the guarantee is worth having. Remember, they're accepting your daughter's word that she can and will pay them the entirety of the contract duration's rent for the entire house if required. You're being asked to provide a guarantee to that, in case she can't/doesn't.

And, of course, you trust that she will, don't you? Because, of course, your daughter wouldn't possibly sign a contract she can't deliver on... So it's zero risk to you, right?

you don't have children do you?

JencParker

I've been guarantor for both my children while they were at university and never had to supply anything - I simply signed a form saying that I was guarantor. Last time was about 4 years ago so I guess things have changed.

spacey2012

Latest Scam, they will claim damage that can not be proven and each guarantor will get screwed over separately.
They make serious money from this every let.

Personally, I would advise you do not sign it and instruct her to keep looking for a flat that if it does need a guarantor it is not for the job lot, which could be quite substantial.

AdrianC

CLAPTON wrote: »

you don't have children do you?

Are you saying you don't trust your kids...?

Surely I'm bob-on, unless, of course that's what you're saying...

silvercar

spacey2012 wrote: »

Personally, I would advise you do not sign it and instruct her to keep looking for a flat that if it does need a guarantor it is not for the job lot, which could be quite substantial.

Result will be that all the decent student houses will be let to student groups whose parents are prepared to act as guarantors.

The dregs, with bad landlords/ damp issues/ off the general student thoroughfares/ dodgy areas/ massively overpriced/.. (choose as many as apply) will be left to choose from.