Our job is to foresee any problems and make the rental process as simple and smooth as possible, for students and guarantors. We only rent quality properties to our student tenants. Equally, we make sure that students respect their house, pay their rent on time and understand they have entered into a legal agreement.
To be a guarantor, your monthly net income needs to be three times the monthly rent of the tenant. So, if their rent is £300 per calendar month, you’d need to earn £900 a month. Bad credit records or temporary employment, unfortunately, rule you out as a guarantor.
We offer two services to landlords which will affect the type of service the tenant you are guaranteeing will receive from us. If the property is managed, then we’ll be looking after the tenants for the duration of the tenancy. We’ll collect the rent, speaking to you if the tenant doesn’t pay, and deal with all aspects of the tenancy. We’ll usually deal with all maintenance also, however some landlords do like us to liaise with tenants but carry out the maintenance themselves.
If the property is let only, we don’t deal with any aspect of the tenancy once it’s started. We do however deal with the sign up process, referencing the tenant and guarantor, dealing with the paperwork and taking the payments ready for move in. We’re not responsible for ensuring the property is ready for the tenants and for any of the maintenance issues or legal queries once the tenancy is active. You’ll need to speak to the landlord about these.
As students don’t have a regular income or much rental or credit history (if any), each needs a guarantor in case they default on paying the rent or breach the tenancy. If a student doesn’t have a guarantor, he or she has to pay their rent in advance. This arrangement has to be acceptable to the guarantors of any friends with whom they’re sharing (co-tenants). Guarantors are, in most cases, joint and severally liable for the rent for the whole property.
We use a private protection company, Van Mildert, to assess guarantors. They check standard criteria, such as credit history and employment details. The information is securely protected and is not shared with any other person or any third parties.
If you have any concerns or questions about being a guarantor, we’re here to help so please contact the office.
International students must provide a UK based, valid guarantor. If this is not possible students are required to pay for rent in advance – usually 12 months. Yet, every situation is different therefore we will aim to help you where we can and discuss your options. For more information on renting a property if you are here an international student, visit our dedicated section.