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Guarantor Liability
LeighTara
Posts: 3 Newbie
Hi everyone,
Thank you for your replies in advance. Last year I sold a rental property I had. The only way I could get the tenant to leave (apart from go to court) was to guarantor his new property. He is an elderly gentleman that had always paid his rent. So I agreed with the letting agent I would guarantor him only do for a year. He gets housing benefit paid direct to landlord. Today I have had an email saying he hasn’t paid the agent top up for 6 months and they want £600 plus pounds of me. I know that I am liable for this as this is what I agreed to but shouldn’t the letting agent have told me before now?
Thank you for your replies in advance. Last year I sold a rental property I had. The only way I could get the tenant to leave (apart from go to court) was to guarantor his new property. He is an elderly gentleman that had always paid his rent. So I agreed with the letting agent I would guarantor him only do for a year. He gets housing benefit paid direct to landlord. Today I have had an email saying he hasn’t paid the agent top up for 6 months and they want £600 plus pounds of me. I know that I am liable for this as this is what I agreed to but shouldn’t the letting agent have told me before now?
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No, they don't need to.0
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No. The landlord/agent can demand rent arrears from the tenant and /or guarantor at any time. Of course, it is good business practice to chase arrears early, before they mount up, and ensure the tenant is aware of the problem.It is normal for the guarantor to only be approached when they reach a certain point and the tenant is clearly not addressing the problem, but the option is there for the LL to demand the arrears within the first week they arise, or wait 6 months, a year or indeed up to 6 years.Becoming a guarantor for a tenant to whom you have no family/rfiend relationship is a huge , and risky, undertaking. Frankly if you've already had issues with this person (difficulty evicting) then you must have been, with respect, errrr ... well I dare not say on this forum.....0
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Just as well you'll be off the hook at the end of the first year.Any idea why he hasn't paid the top-up? Are you still in contact with him and if so, would it be appropriate to have a word with him? If there's anything practical you can do to encourage him to cover the shortfall for the remaining 6 months of your watch at least it would be damage limitation.0
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Good point.....
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i would be knocking (loudly) on the pensioners door until you find out what is going on. But then i wouldn't have done such a silly thing as to sign up as a guarantor in the first placeAn answer isn't spam just because you don't like it......1
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