Daughter about to rent - new to this....

oliel

Hi my daughter has just finished part 1 architecture.  She now has to do a year placement before returning to do her part 2 at uni.   She secured a job in London for a year and is currently subletting in a house share and hunting for a longer flat share.  Her salary is £25,000 but she is also getting £8,400 student loan - total of £33,400.  I understand we may need to be a guarantor for her which is fine.  What information will we need to provide as guarantor?  We are off on holiday soon so I want to prepare what we need before we go just in case she finds somewhere while we are away.  Are there any things we need to look out for on the contract?  Ive read about not being liable for others paying there rent in the flat share and doing inventories etc and if anyone can recommend a good slat share company even better.  Thanks

Flugelhorn

I have been guarantor for son twice - had to upload ID (page of passport) and evidence of income (my pension statement) - sometimes they ask for bank statements to see pay going into account - it was a automated system that you just followed through.

horsewithnoname

Also having been a guarantor, but not having a passport, a driving license is also acceptable and they wanted payslips and three months bank statements. 

Bookworm105

they want proof of ID so they know who they are coming after if they need to
they want proof that you can afford the bill (income or savings whichever you opt for)

you have identified the major concern when being guarantor - restrict it to who you are guaranteeing!
that applies to both non payment of rent and what happens if the end of tenancy damage to the property exceeds the value of the deposit - you don't want to be liable for damage caused by someone else.

RHemmings

Bookworm105 said:

they want proof of ID so they know who they are coming after if they need to
they want proof that you can afford the bill (income or savings whichever you opt for)

you have identified the major concern when being guarantor - restrict it to who you are guaranteeing!
that applies to both non payment of rent and what happens if the end of tenancy damage to the property exceeds the value of the deposit - you don't want to be liable for damage caused by someone else.

Landlords know this and will often have guarantor agreements that make guarantors jointly and severally liable for everyone living in the flat. As tenants would be. E.g. discussed here: https://england.shelter.org.uk/housing_advice/private_renting/guarantors_for_private_renters

I agree with you that it's a major concern. But, it may be tricky to get out of if the landlord requires such terms in the guarantor's agreement. 

FlorayG

I don't see how it's possible to assign damage. If a tenant puts a hole in the bath or the wall and denies being the culprit you only have their word against the other tenants

Bookworm105

FlorayG said:

I don't see how it's possible to assign damage. If a tenant puts a hole in the bath or the wall and denies being the culprit you only have their word against the other tenants

you never know until someone denies it, I owned up when broke the door and paid the full cost myself

what I meant was you guarantee your share of any damage bill, not the whole bill

oliel

RHemmings said:

Bookworm105 said:

they want proof of ID so they know who they are coming after if they need to
they want proof that you can afford the bill (income or savings whichever you opt for)

you have identified the major concern when being guarantor - restrict it to who you are guaranteeing!
that applies to both non payment of rent and what happens if the end of tenancy damage to the property exceeds the value of the deposit - you don't want to be liable for damage caused by someone else.

Landlords know this and will often have guarantor agreements that make guarantors jointly and severally liable for everyone living in the flat. As tenants would be. E.g. discussed here: https://england.shelter.org.uk/housing_advice/private_renting/guarantors_for_private_renters

I agree with you that it's a major concern. But, it may be tricky to get out of if the landlord requires such terms in the guarantor's agreement. 

thanks she will be joining an existing flat share i think probably replacing someone who's left so i will bare that in mind.   

RHemmings

oliel said:

RHemmings said:

Bookworm105 said:

they want proof of ID so they know who they are coming after if they need to
they want proof that you can afford the bill (income or savings whichever you opt for)

you have identified the major concern when being guarantor - restrict it to who you are guaranteeing!
that applies to both non payment of rent and what happens if the end of tenancy damage to the property exceeds the value of the deposit - you don't want to be liable for damage caused by someone else.

Landlords know this and will often have guarantor agreements that make guarantors jointly and severally liable for everyone living in the flat. As tenants would be. E.g. discussed here: https://england.shelter.org.uk/housing_advice/private_renting/guarantors_for_private_renters

I agree with you that it's a major concern. But, it may be tricky to get out of if the landlord requires such terms in the guarantor's agreement. 

thanks she will be joining an existing flat share i think probably replacing someone who's left so i will bare that in mind.   

Just make sure you read both the tenancy agreement and the guarantor's agreement very, very, carefully. I was about to become someone's guarantor and had been given a verbal description of the arrangement. In particular that it wasn't open ended. When I read the actual agreement word-by-word, it was completely different. I had to refuse to sign. In that case they accepted the tenant without a guarantor - but it was a sticky situation. In hindsight, I feel that I potentially dodged a bullet The person so far has paid rent reliably and not caused damage that I know of, but I would not like to be in an agreement that I have no power to ever get myself out of and where I have to accept that I'm guaranteeing rent with no say over increases etc. 

I have been a guarantor for my son, and at that time was very ignorant about the process. Fortunately it all finished OK. But, I did not understand the legal responsibility I had taken on - e.g.  it was a HMO and I was probably liable for the other tenants too. 

oliel

RHemmings said:

oliel said:

RHemmings said:

Bookworm105 said:

they want proof of ID so they know who they are coming after if they need to
they want proof that you can afford the bill (income or savings whichever you opt for)

you have identified the major concern when being guarantor - restrict it to who you are guaranteeing!
that applies to both non payment of rent and what happens if the end of tenancy damage to the property exceeds the value of the deposit - you don't want to be liable for damage caused by someone else.

Landlords know this and will often have guarantor agreements that make guarantors jointly and severally liable for everyone living in the flat. As tenants would be. E.g. discussed here: https://england.shelter.org.uk/housing_advice/private_renting/guarantors_for_private_renters

I agree with you that it's a major concern. But, it may be tricky to get out of if the landlord requires such terms in the guarantor's agreement. 

thanks she will be joining an existing flat share i think probably replacing someone who's left so i will bare that in mind.   

Just make sure you read both the tenancy agreement and the guarantor's agreement very, very, carefully. I was about to become someone's guarantor and had been given a verbal description of the arrangement. In particular that it wasn't open ended. When I read the actual agreement word-by-word, it was completely different. I had to refuse to sign. In that case they accepted the tenant without a guarantor - but it was a sticky situation. In hindsight, I feel that I potentially dodged a bullet The person so far has paid rent reliably and not caused damage that I know of, but I would not like to be in an agreement that I have no power to ever get myself out of and where I have to accept that I'm guaranteeing rent with no say over increases etc. 

I have been a guarantor for my son, and at that time was very ignorant about the process. Fortunately it all finished OK. But, I did not understand the legal responsibility I had taken on - e.g.  it was a HMO and I was probably liable for the other tenants too. 

Yes i have a friend who's a lawyer i think ill get them to check it for me legal cargo is confusing at the best of times

propertyrental

oliel said:

RHemmings said:

Bookworm105 said:

they want proof of ID so they know who they are coming after if they need to
they want proof that you can afford the bill (income or savings whichever you opt for)

you have identified the major concern when being guarantor - restrict it to who you are guaranteeing!
that applies to both non payment of rent and what happens if the end of tenancy damage to the property exceeds the value of the deposit - you don't want to be liable for damage caused by someone else.

Landlords know this and will often have guarantor agreements that make guarantors jointly and severally liable for everyone living in the flat. As tenants would be. E.g. discussed here: https://england.shelter.org.uk/housing_advice/private_renting/guarantors_for_private_renters

I agree with you that it's a major concern. But, it may be tricky to get out of if the landlord requires such terms in the guarantor's agreement. 

thanks she will be joining an existing flat share i think probably replacing someone who's left so i will bare that in mind.   

1) Is she joining as a lodger ie her landlord(s) are the others in the flat and that's who she pays rent to?

2) Or is she joining as a tenant, ie her LL is the same LL as the other occupants?

3) or does each tenant/occupant have a separate tenancy agreement in their sole name?

If 2), 

* is the previous tenancy being surrendered (deposit returned, inventory check out, etc) and a brand new joint tenancy being created with her as a named joint tenant (new deposit registered, new EPC/gas report etc, new rent guide issued, new everything...)? or

* is s dodgy transfer being arranged  - she pays deposit to previous tenant (who she'd have to chase to get it back later) or

* is a Deed of Assignment being executed such that the existing tenancy continues but with the outgoin tenant's name replaced by daughter's. The deposit etc remains with the LL.