Guarantor for married student daughter

inkie

My daughter and her h2b are taking on a new tenancy.
The letting agent is asking for a guarantor - I had offered for my daughter . It seems thatbyhevkettubg agent want a guarantor for them both - is this usual?

Marktheshark

What income do they have ?

G_M

I assume
a) they will be joint tenants and
b) there will be no other joint tenants (ie this is not a large student house-share)

In the case of students it is common for each joint tenant to have a guarantor, since they are each as risky as each other (in terms of assets, income etc)

Miss_Samantha

It does not make much practical sense to request two guarantors. But letting agents often do not make much sense.

inkie

They have student finance which more than covers their rent and Living costs (as they are in dependant students and so,it goes n each other's income and so get the max) and some part time wage income too and monthly contribution from parents . They will be the only tenants - it will be their first home married.

nrsql

Not surprising they are looking for two - just gives another person to go after.

Have a look at the agreement. I wouldn't touch it - usually gives you no rights and no end date. If there's a breakup and the husband decided to stay there and not pay rent you could be liable for years. No reason for the landlord to evict. I suspect there's a way out but probably not easily.
Better to see if the landlord would accept payment for the term in advance.

inkie

My understanding is that I would only be responsible for daughters half of the rent. It seems daft to me - they have taken their bank statements in, have a joint income in excess of £16k when the rent is £4800.

G_M

inkie wrote: »

My understanding is that I would only be responsible for daughters half of the rent. It seems daft to me - they have taken their bank statements in, have a joint income in excess of £16k when the rent is £4800.

What do you mean "]My understanding is that..."
Have you not seen /read the agreement?

If your understanding is right, I'd be interested to see how it is worded since in a 'joint and several' tenancy the rent is not divisible.

Your daughter will not be responsible for half the rent. She will be equally responsible (with her co-tenant) for the full rent. As will you as her guarantor.

inkie

I will be checking all this out with the letting agent when I see them after the weekend.
I've never rented in my life and so all this new territory to me, hence asking for things to look out for

hazyjo

inkie wrote: »

I will be checking all this out with the letting agent when I see them after the weekend.
I've never rented in my life and so all this new territory to me, hence asking for things to look out for

Make sure you see it in writing


Jx

elverson

inkie wrote: »

I will be checking all this out with the letting agent when I see them after the weekend.
I've never rented in my life and so all this new territory to me, hence asking for things to look out for

You won't be the tenant though. Your daughter and other half should be checking it out themselves - they need to have a full understanding of the conditions of the tenancy as they will be responsible for it.