Draconion Deed of Guarantee

BeatTheSystem

My Daughter is about to start university. She will be sharing a rented house with 3 others.

I have been asked by the landlords agent to sign a deed of guarantee with unlimited liability (for unpaid rent, damage and any breech of the million gotchas in the AST) for not only my daughters rent but those of the other 3.

Is this normal? Can I counter this? I would rather pay my daughters rent for the year upfront to avoid sign this garbage.

Thanks

agrinnall

It's pretty normal for tenancy agreements to make all of the tenants liable for the full amount of the rent (joint and several liability), so that the LL can, if necessary, pursue whichever of them they think is most likely to pay up. I'd imagine that the guarantor would be required to cover that full amount too.

If the LL will accept payment in advance and set up a separate TA for your daughter that will be a way round it, but don't be surprised if they won't.

silvercar

Duplicate thread to the one on the housing board, that contains more opinions:

http://forums.moneysavingexpert.com/showthread.php?t=5507688

inkie

No it's not normal. I am guarantor for my daughter only. She is married (they are both students), and my son in laws mum is his guarantor

agrinnall

inkie wrote: »

No it's not normal. I am guarantor for my daughter only. She is married (they are both students), and my son in laws mum is his guarantor

It's perfectly normal. Your single example doesn't outweigh the many counter examples you'll find in the other thread and throughout the Housing board.

dimbo61

Please put yourself in the shoes of the Landlord.
He/she is Letting 4/5/6/8/10 students who could be anything from 18 to 60 years of age.
Most have little if any credit history and you are handing the keys to a £200/300/500K property.
The guarantor form from the RLA makes the guarantor liable for any damage, unpaid rent etc.
It would be a very stupid Landlord who did not have Good Buildings Insurance but you cannot cover for criminal damage done by your tenants.
Having All the parents sign guarantor forms gives you some protection should the worst happen