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Guarantor liability for my daughter
Comments
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I don't see how this is any different!
R's several liabilities remain £2095.....................
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
.........................
Notwithstanding the provisions of this Guarantor Agreement the Guarantor’s liability shall be
limited to the several liabilities of R.................... only.
July 2016 at the total rent of £2,095.00 per calendar month.
What is needed is for R's liability to be £395.0 -
What is needed is for R's liability to be £395.
This is not possible in a joint and several tenancy.
However it is possible to limit the guarantor's liability.
That being said, in the case of a parent standing as guarantor for a child with no income at the end of the day that parent will likely be the one footing the bill to help his child.
As such, the most important aspect might just be not to look like the one most likely to pay up so that, in case of arrears or damage, the landlord decides to go after another joint-tenant/guarantor
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Is it not possible though in a tenancy where each tenant has several liability as opposed to joint and several.jjlandlord wrote: »This is not possible in a joint and several tenancy.
However it is possible to limit the guarantor's liability.
If each tenant's several liablity is limited to 395 then neither the tenant nor the guarantor can be pursued for any rent above that monthly level.
Makes the single contract somewhat similar to several individual contracts (one each). The advantage might be that utilities, damage etc would remain joint liability....
I admit I am unsure so welcome response.0 -
Any thoughts on whether this clause is satisfactory "Notwithstanding the provisions of this Guarantor Agreement the Guarantor’s liability shall be limited to the several liabilities of R.................... only."0
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Have you considered the Landlord.
I give the keys to a £200,000 property to four 18/19/20 year old students with NO INCOME or JOB or CREDIT HISTORY
Only trying to protect his/she investment.
Nice idea from " Marktheshark" about renting a one bedroom bedsit/Flat but costs will be so much more than sharing0 -
My point exactly. The contract does not seem to specify R's 'several liabilities' so it is meaningless.Any thoughts on whether this clause is satisfactory "Notwithstanding the provisions of this Guarantor Agreement the Guarantor’s liability shall be limited to the several liabilities of R.................... only."0 -
It is a joint-tenancy so each single joint-tenant is liable for all of the rent.
The new section makes OP also liable for that in the same way as the first sentence did.
Legal drafting is tricky and, as said, guarantee drafting is execution is even trickier.
Here it seems that the landlord is DYI'ing it and that OP is also trying to DIY it.
All bets are off as to what the result might be, although an ambiguous or contradictory wording is bound to be to OP's advantage.
I'll repeat my previous post:That being said, in the case of a parent standing as guarantor for a child with no income at the end of the day that parent will likely be the one footing the bill to help his child.
As such, the most important aspect might just be not to look like the one most likely to pay up so that, in case of arrears or damage, the landlord decides to go after another joint-tenant/guarantor0 -
Wouldn't the several liabilities of R......... be limited to her proportion of her rent and condition of her room?0
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Since as noted previously it is supposed to properly witnessed e.t.c and they are just posting it to you, I guess an unscrupulous person could get a friend to sign it with a name that seems fine as long as it isn't examined too closely ?
Carlos T. Jackal
Dan Gleeballs
Joe Facile
e.t.c. ?0
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