Guarantor request by LL for student accomodation

aquitaine

silvercar wrote: »

However this ends, there is a likelihood that your son won't be able to take on this property, either because you refuse to be a guarantor or because the letting agent gives up on arguing with you. You owe it to your son to have a discussion with him about where he will live nect year. Make sure he is looking at other options.

I don't think their position is that strong otherwise they would have let it to someone else by now. I am sick of arguing with them but will keep plugging away.

Andypandyboy

Really? It is your son who is at risk of having nowhere to live. You are deluded if you think the others will walk away from this rental due to you. They will find someone to take his place.

Marvel1

Have you read the contract/agreement your son signed?

aquitaine

BobQ wrote: »

I think you still need to read the contract.

I doubt it asks for unlimited liability for their whole business. They will more likely want unlimited liability for "something" (ie loss of rent from the property, damage to contents, damage to buildings, reasonable expenses in sorting out the problems caused to the property or third parties). But if it does find somewhere else to live.

I did read it, it demands that I I “indemnify the Landlord in full and on demand against any losses, claims, liabilities, damages, demands and expenses.” Ie I cough up for anything they want and on demand as well, no room for argument or discussion. That looks pretty unlimited to me. They did say that "you would never have to pay unlimited damages" but when I said fair enough, put the limit in the contract then, they refused which shows they were lying in the first place.

aquitaine

cjdavies wrote: »

Have you read the contract/agreement your son signed?

I still haven't seen that but the one they tried to get me to sign is the one which concerns me (see above).

aquitaine

Andypandyboy wrote: »

Really? It is your son who is at risk of having nowhere to live. You are deluded if you think the others will walk away from this rental due to you. They will find someone to take his place.

You have no idea about whether the others will walk away. It is you who is deluded.

exiled_red

aquitaine wrote: »

I don't think their position is that strong otherwise they would have let it to someone else by now. I am sick of arguing with them but will keep plugging away.

I imagine that their position is fairly strong if son has signed a contract, because he (and his friends) will presumably be liable for the rent or responsible for finding someone to take over either the room your son would be in, if he alone looks for somewhere else, or for the whole property if they all look for somewhere else. As this is/was a fairly common clause in student rental contracts.

This is why you need to read the contract before considering your options otherwise your son could end up paying rent on 2 properties.

silvercar

aquitaine wrote: »

I didn't realise people sorted these things out ages ago, nor did son by the looks of things. I should think it is the landlord who is getting a bit worried as one assumes if they don't let their places by September they could be stuck with them. I will bear this in mind during the next interminable conversation with them. I might try demanding that the rent be decreased, that might wake them up a bit.

One further thing to consider is when this tenancy ends. In my kids' uni town contracts finished on 30 June. You don't want this contract to finish months after everyone elses or he could have problems next year.

Andypandyboy

aquitaine wrote: »

You have no idea about whether the others will walk away. It is you who is deluded.

I have a son who has just picked up his keys for his 2nd year accom, if you were a parent involved in his tenancy that is exactly what I would be advising he and his friends do.

Put yourself in their positions; you have five people whose parents have done as requested and one who hasn't, they have the house they want, do they lose that or lose the tenant whose father won't comply?

aquitaine

Andypandyboy wrote: »

I have a son who has just picked up his keys for his 2nd year accom, if you were a parent involved in his tenancy that is exactly what I would be advising he and his friends do.

Put yourself in their positions; you have five people whose parents have done as requested and one who hasn't, they have the house they want, do they lose that or lose the tenant whose father won't comply?

There is no sign of this happening. There were a few threats of it last week but they seem to have gone away. The thing I find astonishing is that they have all signed up for unlimited liability without a murmur. It makes you realise why the financial services industry keeps coming up with new scams, there seems to be a bottomless pit of mugs to con.