Student 2nd Year Rental - Joint Agreement Liability

RedCloud_2

I'm worried about being guarantor for my daughter's 2nd year student accommodation. She's found a house and will share with 4 friends. The estate agent and landlord have issued a joint agreement for us to sign. This means we are responsible for rental payments for my daughter and potentially any rent that is not paid by the other 4 students. Someone has suggested we can take out insurance for this. Can anyone recommend a company. Thanks.

lookstraightahead

Hi I did this throughout my daughters uni time although this year for her masters I haven't had to sign anything. It's fairly normal practice (not saying it's right). Not sure about insurance. I just basically crossed my fingers for three years and hoped she picked good mates to share with. 

dimbo61

I also had to be a parent guarantor for both my boys through university.
As a student landlord myself we have always asked for and had parent guarantors for all our students.
The HMO mortgage lender has parent guarantors as a requirement of the mortgage. 
Joint and several tenancy is also the norm with groups of students.
What you need to check is the condition of the property your daughter is moving into.
Has the house got an EPC and what is the rating ?
Bills inclusive? GSC, EICR, HMO licence? PAT and legionnaires checks? Fire safety and security?