Guarantor liability for my daughter

mrginge

ViolaLass wrote: »

The daughter is an adult, isn't that decision up to her?

Yes. Well done.

Pixie5740

jebervic wrote: »

Arkers- Thanks but much to the annoyance of my daughter, I am not prepared to sign an agreement that makes me liable for over 2k a month.

Where will your daughter live then whilst she's at university? Can she find another LL who won't want students to provide guarantors? Is she able to get back into halls?

G_M

silvercar wrote: »

As a parent of a student I sympathise with both sides. I don't want to be liable for other student's debts but I also want to ensure my child loves in a decent property not some grotty house which the landlord is only able to let by forgoing securing guarantors.

And I thought students these days were more academic-minded than back in the swinging 60s.......

ruggedtoast

There seems to be some information about this here:

http://www.lettingfocus.com/pages/myarticles_Guarantorsintenancyagreements.html

Fwiw the exact same thing happened to me in university years ago. We found a house, paid a reservation fee each and the one of the parties was unable to proceed when they saw the paperwork they would have to complete.

3 x £175 reservation fees into the pocket of the agent and it was back on Rightmove the next day. In that case the guy who could not proceed felt bad about it and recompensed myself and the other party so I wasnt out of pocket, just stuck sofa surfing for half the new semester.

Money for old rope for letting agents. They literally see these kids coming a mile off every summer and rub their hands together with glee when they take their deposits off them and tell them they only have to 'fill in a few forms' and they're in.

Unfortunately it is an industry largely in the hands of unprincipled scum and the sooner these reservation fees are made illegal in England the better.

silvercar

G_M wrote: »

And I thought students these days were more academic-minded than back in the swinging 60s.......

Well we hope they are. Which is why I want my kids living in secure, safe and warm student accommodation and so I am prepared to guarantee that my student child pays the rent. From some of the comments on here, some parents are not able or willing to do the same.

Incidentally, knowing some of the other students that mine have chosen to share with, I don't believe that all letting agents are vigilant in checking out guarantors.

jjlandlord

This also goes back to what I mentioned earlier:

Your student child was in a joint-tenancy and is sued for £2000 because their housemates didn't pay the rent.

As a parent would you:
- say that's her problem. She'll get a CCJ for 6 years and may get visits from bailiffs, etc. to recover the money.
- help her out because there is no way she can pay and you don't want to prejudice her studies and financial position. (She can pay you back later. Or not)

Many parents are the "lender of last resort" for their children in any case.
Formal guarantees might make it clear and legally binding but may not change that much what would happen in case of trouble.

If parents and children want to avoid issues they should avoid joint-tenancies, and thus be prepared to pay more to rent.

ruggedtoast

silvercar wrote: »

Well we hope they are. Which is why I want my kids living in secure, safe and warm student accommodation and so I am prepared to guarantee that my student child pays the rent. From some of the comments on here, some parents are not able or willing to do the same.

Incidentally, knowing some of the other students that mine have chosen to share with, I don't believe that all letting agents are vigilant in checking out guarantors.

I dont understand this. The first part of your post contradicts the last.

Marktheshark

Lets put it in to prospective.
Would a hotel expect it reasonable to make a guest sign a Guarantor bond to pay every guests bill if these random guests did not pay ?
Of course not.
The term is expressively to the detriment of the OP.
If the form was coughed up after the deposit then it as an addition they can not hold the deposit for if you refuse to accept it.

I would make it very clear, you are not signing any deed that makes you responsible for strangers liabilities.
You will gladly sign one that covers your daughters liabilities as this is the person you are entering in to a contract for.
If they refuse to allow you to limit your liabity to that of your daughter and not three ransom strangers then you regard that as an unfair addition to the contract and they shall return the deposit immediate or you shall let the District judge at your county court decide if it is a fair t.rent.
In short, my daughters rent = my liability, no problem, 3 other peoples rent = someone else's problem.
You dont buy the most just sign it for the simple reason most are obviously a bit dumb if thats what they sign.

silvercar

ruggedtoast wrote: »

I dont understand this. The first part of your post contradicts the last.

All I'm saying is that some letting agents don't credit check the guarantors, some don't make any effort to check that the guarantor actually exists - as long as a piece of paper has a signature on it they are happy.

Doesn't contradict with me, as a parent, being prepared to act as a guarantor for my child. Just saying that not all guarantors are verified.

We have had very thorough letting agents who took up employment references for us and we could see a credit check had been done, others who did nothing.

Pixie5740

Marktheshark wrote: »

Lets put it in to prospective.
Would a hotel expect it reasonable to make a guest sign a Guarantor bond to pay every guests bill if these random guests did not pay ?
Of course not.
The term is expressively to the detriment of the OP.
If the form was coughed up after the deposit then it as an addition they can not hold the deposit for if you refuse to accept it.

I would make it very clear, you are not signing any deed that makes you responsible for strangers liabilities.
You will gladly sign one that covers your daughters liabilities as this is the person you are entering in to a contract for.
If they refuse to allow you to limit your liabity to that of your daughter and not three ransom strangers then you regard that as an unfair addition to the contract and they shall return the deposit immediate or you shall let the District judge at your county court decide if it is a fair t.rent.
In short, my daughters rent = my liability, no problem, 3 other peoples rent = someone else's problem.
You dont buy the most just sign it for the simple reason most are obviously a bit dumb if thats what they sign.

It's a joint tenancy agreement. They all have joint and several liability for the rent therefore there is no such thing as the OP's daughter's share of the rent there is just one rent.

Comparing staying in a hotel with a joint tenancy agreement is comparing apples with oranges.