Guarantor request by LL for student accomodation

BobQ

aquitaine wrote: »

If he had been warned of the risk up front he would have contacted me and I would have told him to walk away. As things lie he has paid a significant deposit and rent in advance which they are going to nick if he doesn't find a guarantor. So we are stuck with fighting this.

Ah so he has signed an AST with a non-refundable deposit? The contract he has signed requires a guarantor or the deposit is lost?

DoaM

BobQ wrote: »

Ah so he has signed an AST with a non-refundable deposit? The contract he has signed requires a guarantor or the deposit is lost?

That's probably an unfair term, and could be legally challenged (and won).

steampowered

It is completely normal practice for guarantees to be entered into on an unlimited liability basis. This simply means that you are guaranteeing your son's liability under his tenancy agreement.

I do not think there is any real reason why the guarantee should have a limitation of liability clause if there is no such clause in the original contract.

However, I agree it is unreasonable for you to be asked to guarantee all the other people in the house. You should only be guaranteeing your son.

Perhaps have a look at your son's tenancy agreement to see what it says about guarantors.

DaftyDuck

aquitaine wrote: »

It is the greedy landlord and unscrupulous estate agent who are demanding unfair and unreasonable terms

Speaking as one such greedy landlord, who uses unscrupulous agents, and who imposes unfair and unreasonable terms on such "trusting 19 year olds" as your dear progeny, may I add my half penn'worth?

Luckily for me, I only rent to second-year students, or graduate students, who have some track record, and I can be choosy as to whom I rent. Other, similar Fagin-like dastardly exploiters of students are not quite so [STRIKE]lucky[/STRIKE] devoid of all morals as I am, and have to rent to first-year students whom they have never met, have no idea of their attitude, or their integrity. They pass the keys to a house worth, say, £450,000 to four or five of these sweet, innocent, honest, deserving, talented, clean, tidy, sweeties, safe in the knowledge they will care for this valuable asset ...

{Ha ha ha ha ha ha .......... oh, if only, if only.... Sorry, just wet myself laughing...}

Like the guy a few houses down from one of mine, who found the students had done a runner (well, they were foreigners as well, I mean. What worse combination could there be..... ), having had an end-of term party and trashed his place. There was £18,000 worth of damage to the structure, they'd even smashed the loo, shower and sink upstairs, and all rooms (and I mean all) had vomit left in them. It's quite common to find the tenant they originally let to has changed for someone else, that their tenant failed a module/was sent down/gave up/got homesick/fell in (or out of) love, got arrested for dealing, whatever, and someone else has bundled themselves in instead. End of term, many Landlords find their property has been stripped, furniture replaced with dross, cutlery and crockery bent, broken or otherwise bu99ered up ... Some students simply have no idea whatsoever - often because their parents are equally bat-sh1te idiotic. In fact, one can often tell what the student will be like from the attitude of said parent. Just sayin'.....

Now, I started corporate racketeering and thieving as a scum-landlord to students early on, I was young too, so I knew what was likely, saw the pitfalls coming and simply avoided the issue, now allowing an evil arrogant agency to manipulate all those poor deserving students. I only ever rent to students in their second year or above, and generally only to those studying in my department or college, and often to couples setting up together. That way, they run in fear and trembling as, rather than chase them in the courts, I can mark them down in their final exam, ban them from the college bar, send them down for a term, or otherwise destroy their career, just for the jollies. Or, if they are smaller than me, I can just punch or kick them. Well, it's what us amoral, scum-feeding, execrable, repugnant, malevolent and spiteful landlords are in it for; we enjoy seeing the youth of today suffer, even as our arthritic claws grasp our wallets, and our villainous tongues lick our lips.....

Oh, in twenty-plus years, I've never even had to make a deposit claim... In fact, I seldom even take a deposit... now THAT'S just depraved! Mind you, I do tend to know my students, and often have met their parents too. As I say, you can tell a lot about a student from how the adult behaves...

Guest101

BobQ wrote: »

Ah so he has signed an AST with a non-refundable deposit? The contract he has signed requires a guarantor or the deposit is lost?

The deposit must be protected with-in 30 days of receipt.


Presumebly they've done this?

Guest101

aquitaine wrote: »

Who in their right mind is going to take on £200,000 of risk, never mind unlimited liability just for a student let? Lloyds Names are paid handsomely for taking on those levels of risk but these sleazy landlords and estate agents are demanding that people take on identical risk for free. You would have to be insane to do it. I am still plugging away at getting a decent deal on this without accepting crackpot levels of risk.

EVERY Tenant takes on that risk, EVERY SINGLE ONE

missbiggles1

Methinks someone knows his son and his friends only too well....

BobQ

DoaM wrote: »

That's probably an unfair term, and could be legally challenged (and won).

I agreebut that is why they are questions. The OP has not so far clarified if this is a condition (unfair or otherwise)

ScorpiondeRooftrouser

Guest101 wrote: »

The deposit must be protected with-in 30 days of receipt.


Presumebly they've done this?

He's still not made it clear if he's talking about the security deposit or a holding deposit.

Marvel1

OP, have you read the contract you Son signed?