Student House Guarantor Question

Madmel

I have tried searching for this but time is of the essence.  My daughter is looking to move into a privately rented house for her 2nd year at university.  She has viewed several houses.  One sent her a draft contract which seemed reasonable, however, she has just received this email from a LA.  Apart from the terrible English, the amount of information they want from me, DD's guarantor, looks ridiculous.  I have taken out credit cards with less!  Is this a reasonable request?  I would far rather pay for the year in advance, which is not ideal, but would at least mean I keep my personal information safe.   TIA

Good morning, 

I hope you are doing well, 

 As per the holding deposit that has been paid for above property that you are loving to move into, I am emailing you this morning to get below details from you:

• Full name
• Contact number
• Email address
• Current address
• University offer letter
• Passport
• Guarantor details
• Full name
• Email address
• Contact number
• Photo ID
• Proof of income (payslips, p60, p45)
• Proof of home ownership (mortgage statement, title deed)

JayRitchie

That doesn't look a lot of information to me - although I recognise the risk. Be sure not to accept joint and several liability.

AdrianC

Best case: You pay not a penny, and the paperwork was a waste of time.
Worst case: Together with the other guarantors, you find yourself being handed a bill for the entire year's rent for all the students in the house, the cost of repairing a smouldering ruin, court and enforcement costs for regaining possession.

In that worst case, wouldn't you like to know that the other parents had the financial capability to pay their share?

notrouble

Those questions seem fairly standard. The landlord wants to know that the guarantor is who they say they are, and has income/assets to cover any debts (since the tenant, being a student, clearly does not). That's the wholepoint of a guarantee agreement.

The biggest risk with such a guarantee is not ID theft/misuse of data (though I suppose that's always a risk), but that you are guaranteeing not just your daughter's "share" of the rent, but the whole tenancy rent (and damage).

Madmel

Thanks all.  The income thing is interesting as we have assets but our income is not great.  I will not guarantee anything other than DD's share.  Another parent has apparently said the same thing.  The LA had an online chat function so I used it to ask about it all, and she suggested phoning on Monday when I'm teaching all day.  I don't think the 24 hours that DD is fretting about will happen, especially given that the LA is closed tomorrow.

In terms of Adrian's smouldering ruin, is that not what LL insurance covers?  DD1 has 4 years of accommodation provided by her university and we've never had to agree to anything there, including damage.  

davidmcn

Madmel said:

In terms of Adrian's smouldering ruin, is that not what LL insurance covers?

Just because the landlord has insurance doesn't mean the tenants aren't still ultimately liable (or that the excess is insignificant). 

notrouble

Madmel said:

Thanks all.  The income thing is interesting as we have assets but our income is not great.  I will not guarantee anything other than DD's share.  Another parent has apparently said the same thing.  The LA had an online chat function so I used it to ask about it all, and she suggested phoning on Monday when I'm teaching all day.  I don't think the 24 hours that DD is fretting about will happen, especially given that the LA is closed tomorrow.

In terms of Adrian's smouldering ruin, is that not what LL insurance covers?  DD1 has 4 years of accommodation provided by her university and we've never had to agree to anything there, including damage.  

well if the LL knows you have assets, he knows that a court can compel you to sell them, or place a Charge on your property, in the event of your daughter owing rent etc.

Read the agreement carefully. Most will cover 'joint and several' liability ie debts against the tenancy as a whole.

University accomodation is very different. For a start, if a student has debts (eg rent arrears) against the university when their course finishes, the university can withold their degree/refuse to allow them to graduate till the debt is paid - that is a pretty strong position to hold! A private landlord has no such fall-back position.