Guarantor liability for my daughter

Marktheshark

jebervic wrote: »

yes they have, which is why I am more suspicious, because they have done everything by the letter, yet they claim that the agreement is only meant to be for the proportion of her liability.

This is called Bluff, words, hot air.
what matters is what is written on the deed and that very clearly makes you liable for any of shortfall the joint renters rent or the whole rent.

You can either accept the hot air as fact or what is written on the deed you will be signing.
My advice is unless you can afford to pay this £2000+ every month, then do not sign it, as that is exactly what you are signing up to.
Hoping it goes alright and three other tenants you know nothing about all pay up, when they have no need to, they can pocket the rent and drink and party all day as you are guaranteeing to pay it for them.

For some reason you seem to think its a mistake and you only have to pay your daughters share.
That is not what it says, it says, you are liable for ALL the rent.

Have a think, what could possibly go wrong in a shared house with random other people's rent to guarantee.

mrginge

Marktheshark wrote: »

My advice is unless you can afford to pay this £2000+ every month, then do not sign it, as that is exactly what you are signing up to.

And the same liability that the daughter has already signed up to.

Talc1234

Marktheshark wrote: »

luckily it expires when you die.

No it doesn't

' The guarantee will not be revoked or discharged by my death '

Out,_Vile_Jelly

Speak to her university Housing Office; parental guarantors and shared accommodation contracts are what they sort out all day every day, so should be able to advise.

My brother got badly stung by housemates he though were friends at university; a family friend who's a solicitor helped sort my parents out, but it left him very depressed. You are right to be cautious about this, and please warn your daughter to get agreements about shared bills sorted ASAP.

vqmismatch

I managed to avoid needing guarantors through uni by paying upfront for the whole year. At such cheap rent is that an option?

jebervic

I emailed the landlord, she replied by saying thanking me for my email and will get back to me after she has sought advice.

jebervic

Have had this reply from the landlord today......

Dear Mr ...........

We have now had an opportunity of taking advice and would confirm that the intention of the Agreement is that the Guarantor should be responsible for the liabilities of their own son or daughter only.

We are attaching a copy of the Guarantor Agreement 2015-2016 with an additional clause to deal with your concern which has been worded by our Solicitor.All other Guarantors will also receive confirmation regarding their liability being for their own son or daughter.

We look forward to hearing from you and do hope R.......... will be able to proceed with her application to become a Tenant.

G_M

jebervic wrote: »

We are attaching a copy of the Guarantor Agreement 2015-2016 with an additional clause to deal with your concern which has been worded by our Solicitor.All other Guarantors will also receive confirmation regarding their liability being for their own son or daughter.

What does the clause say?

jebervic

This the revised guarantor agreement with the clause inserted.


I guarantee to you the payment of the rent in the sum of £395.00 per calendar month and the

observation and performance of the Tenant, R................................, hereafter referred

to as the Tenancy Member, of the Tenancy Agreement upon the Terms of the said Assured

Shorthold Tenancy Agreement, which shall be Joint and Several, entered into by them for the

September, 2015 – 31st

period 1st

If the Tenancy Member defaults in payment of the rent for 14 days, I will, at your request in

writing, pay the said rent to you. If the Tenancy Member defaults in their observation and

performance of the Terms of the Tenancy Agreement then I will pay to you all losses and

expenses and costs to which you will be entitled to the extent that you have not received them

from the Tenant.

This Guarantee will continue for the whole term of the Tenancy from the commencement date

of the Tenancy Period and will extend to all acts and defaults of the Tenancy Member during

the Tenancy Period. The Guarantee will not be revoked or discharged by my death and will not

be discharged by you neglecting or forbearing to obtain payment of the Rent when the same

becomes payable nor to enforce performance by the Tenancy Member of their obligations

under the Terms of the Assured Shorthold Tenancy Agreement.

If the Tenancy Agreement should be assigned with your consent, or by agreement between you

and the Tenancy Member, be determined, extended or renewed, then at the end of the Tenancy

Member’s agreed Period of tenancy, this Guarantee shall forthwith determine.

Notwithstanding the provisions of this Guarantor Agreement the Guarantor’s liability shall be

limited to the several liabilities of R.................... only.

jjlandlord

Nothing has changed in this new version.