All our tenants will be required to provide a guarantor if they choose to pay in instalments rather than their full rent upfront. This is common practice for UK landlords and simply means that there is someone who agrees to pay the rent if the student is unable to do so.
What does a being a guarantor mean?
A guarantor will be responsible for putting right any breaches of tenancy, including non-payment of rent if the tenant fails in their responsibilities.
Who can be a guarantor?
The guarantor should be a parent, guardian, relative or family friend of the student. The guarantor should be in full-time employment, and/or in a stable financial position to cover relevant payments as required. We will not run a credit check as part of the process of assessing guarantors.
What does a guarantor need to provide?
The guarantor will need to sign a Guarantor Agreement, which will be sent to them by email. The guarantor will need to provide two of the following documents as proof of ID*:
- Valid passport
- Valid driving license
- Utility bill dated within last 3 months
*Where possible, the bill name and address should be written in English.
What if I can’t find a guarantor?
We work with guarantor service provider YourGuarantor. They can act as a UK Rent Guarantor for students attending UK Universities. Visit their website https://www.yourguarantor.com/ for more information.
If you have any questions or need more information about your role as guarantor, please get in touch with us on 0333 444 1122 or bookings@studentfm.co.uk