Getting a flat, guarantor info please xD

tump13b

Hey all,

Me and my friend have been planning to move into a flat. We've handed in applications with fee, and it's on hold for us at the moment. They rang him the other day and said that he needed a guarantor. We assumed this meant that he personally needed one, and the problem is that he can't get one.

But then i went into the letting agents today and said this, they said would my parents guaranee him (they would be my guarantor), and i said no because they don't really know him too well, but then he said that they might as well or something, as if my friend bailed on me, it would be me who had to pay for him.

Basically i don't really understand this guarantor stuff at all, and i have come under the impression that the guarantor would guarantee the both of us (all the tenants), and that it's not individual, is this correct?

I'm thinking maybe they told him that he needed a guarantor and not me, was because he gave them his name and number when we first went into the letting agency.

Thanks for any help

tbs624

Confusing isn't it?

It sounds as if you & your house-mate will be "jointly and severally liable", ie as the Agent has said they can pursue both of you or either of you for fulfilment of the Tenants' obligations under the agreement.

With regard to the guarantor, it does depend on the wording of the guarantee. Some people who act as guarantor will offer a letter saying something along the lines of " I agree to act as a guarantor for my son/daughters rental payments up to a maximum of £x "(ie only their original share of the rent) which is fine if all tenants have a similar guarantor and if the LL is willing to accept it. If however the Guarantor signs to say that they are guaranteeing all obligations under the Tenancy then what the Agent is telling you is correct. Your housemate could offer to pay his share of the rent upfront to the Agent if he can't get a guarantor or to be lodged safely with your parents if they would then be willing to act as guarantors to keep the Agent happy.

Alternatively, you/your parents could get the contact details for the LL and try to negotiate direct. (You have a legal right to this information, plus a receipt for your initial rent/deposit paid, a copy of your tenancy agreement, information on Deposit Protection Schemes and a copy of the Gas safety Certificate for the property.)

Always get legal advice or help from a CAB worker before signing any agreements if you are not sure what their contents mean. It is perfectly acceptable to ask to take an Agreement away with you so you have time to go through it before signing.

ohmsoft

It may just be him that needs a guarantor. I think the letting agents were implying that you are both jointly responsible for all the rent. That means if he doesn't pay his share they will chase you for it and a black mark will go against your name - they therefore imply that it would be the same for your parents to guarantor him as it is you - technically that may be the case, but I can't imagine my parents doing it