Student Accomodation - acting as guarantor 21 January 2019 at 9:55PM in Student MoneySaving 1 reply 764 views

JonathanSC

I am considering acting as guarantor for my daughter's rent for the house she will share at university. It seems to be standard practice for agents to offer only a joint and severally liable contract - where by my daughter, and so me as guarantor, would have to pay out if any of her housemates default?

It seems you can protect yourself against this risk using a company called Only My Share. But what they offer is not insurance, but seems to be debt recovery on your behalf, all for a cost of £99 pa to cover £10,000 risk.

Does anyone have experience of this company? Are there other more tradition insurance routes that can be followed ?

Carrot007

Sounds pointless. Nothing you could not do yourself via MCOL. And let's face it the majority of students that do not pay rent, do so because they cannot and well blood/stone.


Better advice is share with people you trust.