Guarantor request by LL for student accomodation

Miss_Samantha

Be nice with OP who has just discovered that we live in a capitalist, free market and that businesses want to make a profit.

It can be tough at first.

ScorpiondeRooftrouser

Guest101 wrote: »

Providing homes for those who cant afford to buy is all those things? well I never....

It's a business like any other but let's not pretend that it's in any way "providing homes" for people. It's buying an asset and reselling it at a profit. Homes would exist without btl landlords just as potatoes would exist without greengrocers; but that doesn't make greengrocers or btl landlords immoral.

Guest101

ScorpiondeRooftrouser wrote: »

It's a business like any other but let's not pretend that it's in any way "providing homes" for people. It's buying an asset and reselling it at a profit. Homes would exist without btl landlords just as potatoes would exist without greengrocers; but that doesn't make greengrocers or btl landlords immoral.

I'm not really sure it's the best analogy.


They would exist, but the 'tenant's wouldn't have access to them.


There's nothing inherently wrong with BTL, there are of course issues which crop up now and then, but that's people who overstep

aquitaine

Miss_Samantha wrote: »

Be nice with OP who has just discovered that we live in a capitalist, free market and that businesses want to make a profit.

It can be tough at first.

If you think we live in a capitalist free market economy you are economically illiterate. No free market economy based upon capitalism would be bailing out banks then allowing them to rig the property market with printed money. We have rigged and subsidised energy markets, rigged and controlled transport markets and government interference in every aspect of business. It's about as far away from free market capitalism as it is possible to get without fully embracing the Communist model..

You need to educate yourself and learn what you are talking about before you start making patronising comments which only serve to display your level of ignorance.

Guest101

aquitaine wrote: »

If you think we live in a capitalist free market economy you are economically illiterate. No free market economy based upon capitalism would be bailing out banks then allowing them to rig the property market with printed money. We have rigged and subsidised energy markets, rigged and controlled transport markets and government interference in every aspect of business. It's about as far away from free market capitalism as it is possible to get without fully embracing the Communist model..

You need to educate yourself and learn what you are talking about before you start making patronising comments which only serve to display your level of ignorance.

You've gone massively off topic, so lets get back to it.


You want something that another person has, they have set terms and conditions, say yes or say no, it's your choice.


You are 'free' to look elsewhere, but no-one in their right mind is going to entrust a significant asset to your child without some kind of security.


In fact if you feel so strongly, go and buy a property for them yourself.

vqmismatch

I've never had to provide a guarantor to rent through 7 years of university and a few years thereafter.

I was asked for a guarantor whilst a student, my response every time was that it was not possible but I offered to pay rent for the duration of the tenancy up front. This was adequate to reassure the landlord or letting agent every time.

Since starting work nobody has seriously expected me to provide a guarantor it seems.



I don't think it is unreasonable for the landlord to expect some degree of security, especially when renting to someone likely to be financially stretched. You can provide such security by means of a guarantor arrangement, or by putting the rent up front if the landlord will then be happy to compromise on reduced security for the property.

When_the_going_gets_tough

Just to add that we saw 3 children through uni without having to be a guarantor once. Also one landlord issued individual contracts so the students had no joint liability. I can see why people would object to being guarantors - maybe student organisations should do a bit of campaigning on this issue.

Andypandyboy

vqmismatch wrote: »

I've never had to provide a guarantor to rent through 7 years of university and a few years thereafter.

I was asked for a guarantor whilst a student, my response every time was that it was not possible but I offered to pay rent for the duration of the tenancy up front. This was adequate to reassure the landlord or letting agent every time.

Since starting work nobody has seriously expected me to provide a guarantor it seems.



I don't think it is unreasonable for the landlord to expect some degree of security, especially when renting to someone likely to be financially stretched. You can provide such security by means of a guarantor arrangement, or by putting the rent up front if the landlord will then be happy to compromise on reduced security for the property.

That is great if you have the money to pay upfront for the duration of the tenancy but few students do. My son is paying £415 pcm including bills this year, or rather we are! Not an insignificant amount to find in a lump sum for lots of people.

We have never been asked to do that but I can see it is an option if you don't have a guarantor.

I suspect some landlors still wouldn't be happy to accept that a guarantor does seem to be the norm.

When_the_going_gets_tough wrote: »

Just to add that we saw 3 children through uni without having to be a guarantor once. Also one landlord issued individual contracts so the students had no joint liability. I can see why people would object to being guarantors - maybe student organisations should do a bit of campaigning on this issue.

We had had a couple of indivdual contracts ( for our older children) but I am surprised you have never had to do the guarantor route. Maybe it is area dependent?

ScorpiondeRooftrouser

When_the_going_gets_tough wrote: »

Just to add that we saw 3 children through uni without having to be a guarantor once. Also one landlord issued individual contracts so the students had no joint liability. I can see why people would object to being guarantors - maybe student organisations should do a bit of campaigning on this issue.

As I say, I wouldn't object to being a guarantor; I'd object to the joint liability. I am likely to be giving my children the money for the rent through university, so why would I worry about being a guarantor just for them?

silvercar

Anecdotedly, when students are told that they need a guarantor signature on a form or the property will be given to someone else and a parent refuses to sign, the agents often find that the magic signature appears.

Out of 6 years of guaranteeing, only once have any checks been made.