Asked to be guarantor

arkhan42

Hi


My son is moving into a rented flat, he has previously been in a shared housed and prior to that student accommodation. He has been asked to get a guarantor, is this usual, he hasn't been asked before in any of his previous rentals. He is working and is 24.

PasturesNew

If he lives there entirely alone and if you can afford to pay all his rent if he doesn't and if you trust him that's fine.....

But, from the minute you sign you're liable for any rent he doesn't pay and any damages he causes, if he fails to meet those obligations .... for as long as he cares to hang around there.

Worst case scenario: He moves a gf in, she gets pregnant, he loses his job, they have a baby, they fall out, he moves out, nobody pays the rent, LL racks up additional costs to evict them, with bailiff costs and locksmith costs .... and on her last night the gf throws a mammoth party and her facebook mates trash it.

Somewhere between "my beloved son is so trustworthy it's unbelievable" and the above scenario is your decision point.

need_an_answer

Can you afford to pay his rent if he is unable to?

Not just one month but for the period of the tenancy if needed.

Answer yes then consider it

Answer no and he needs to find either another guarantor or another property with lesser restrictions

Always a difficult situation for a parent to be in but you need to be clear what you are agreeing to if you choose this route

arkhan42

Thanks for the replies, I could afford to pay his rent, if he wasn't able to, not as though I would want to though!! He is reliable when it comes to work and has had the same job for about three years, so hopefully all would be fine, I just wasn't sure if it was the usual thing for Landlords to do, but I guess it covers all bases for them! Pastures new loved your reply, it made me chuckle.

csgohan4

Money and family should not mix

https://forums.moneysavingexpert.com/discussion/5846251/being-chased-for-unpaid-as-a-guarantor

Why not help to pay rent for 6 months in advance

PasturesNew

It is increasingly "normal" these days for landlords to request a guarantor ... and as more are seen to be doing it, more start to do it. So yes it's normal; although it's not "right" or fair.

sal_III

csgohan4 wrote: »

Money and family should not mix

https://forums.moneysavingexpert.com/discussion/5846251/being-chased-for-unpaid-as-a-guarantor

Why not help to pay rent for 6 months in advance

That's a bit harsh, and we are talking a bout a son, not a cousin or an aunt.

The question you have to answer is "What would I do if my boy falls on hard time and can't pay rent?"

If the answer is in the line of "I will help him get back on his feet, with all resources available to me" Then the main difference is that signing to be a guarantor it's a formal arrangement.

If the answer is in the line of "Sod that, let him live on the street, that will tech him to hold a job", then don't sign.

If it's something in the middle like "I would like to help him but can ill afford to pay more than 2-3 months rent on his behalf" Then you are probably better off by not signing.

Autumnella

Does he have to pay a deposit? If not it would be a definite no from me. I have heard of landlords asking for a guarantor instead of a deposit, then when the tenant moves out making up rediculous charges for things that need paying for, which there is no way to dispute (unless it reaches court stage) as the DPS isn't there to arbitrate.

arkhan42

Yes I was surprised, its not as if he is an 18 year old and not working, he is an adult and earning his own money. I would always help out the 'kids' (although not kids anymore), it they got into financial difficulty and if I don't sign he might be tempted to come back home (God forbid), so I guess I will sign it, although will be asking for a copy of the tenancy agreement before I sign, so I know what I am taking on

arkhan42

Yes Autumnella, he has paid a deposit

PasturesNew

arkhan42 wrote: »

.... will be asking for a copy of the tenancy agreement before I sign, so I know what I am taking on ...

You might struggle with that one ... last time I rented they wouldn't let me see it until it was time to sign it - on the morning of the day I was moving in.

It's all nonsense.... of course they can print out a "blank one" for you to see, but they won't do it in the main. God knows why.... most are pretty standard, so maybe they think you're "a private landlord who wants to steal a copy to use when renting their own places out", which would be a daft idea as they're nothing special.