Text via The Unite Foundation
What is a rent guarantor?
Most landlords, including private accommodation providers that rent properties to students, require a third person to act as a ‘guarantor’ before a tenancy agreement can be completed.
A guarantor is a third party, for example a family member, who agrees to pay the rent if for any reason you as the tenant cannot. In some cases a guarantor is also liable for other costs that might be incurred, for example any damage to the property that happened whilst you were living there. Agreeing to be a guarantor is a binding legal commitment, and landlords can take legal action against your guarantor if the rent, or other costs, are not paid.
Check if you need a guarantor for student housing that you are interested in and be sure to get this in place before you start.
Who can act as a rent guarantor?
A person acting as a guarantor would normally have the following credentials:
• UK individual citizen – to enable a landlord to pursue action through the UK court system if required
• Solvent – credit checks may be taken to assess ability to meet any potential liability.
Who can I talk to about rent guarantor schemes?
Speak to one of the Advisers at the SU Advice Centre who will be able to share details of rent guarantor schemes across the UK. These include, but are not limited to:
Citizens Advice also provide advice on using a guarantor.
Can I get financial support for a guarantor scheme?
Students who choose or need to use a guarantor scheme are encouraged to make an application to the Study Support Grant. Following an assessment we may be able to support with a grant towards any administrative costs involved in the initial setting up of a guarantor scheme. A full assessment via an application for this Study Support Grant will look at your circumstances and you may be eligible for wider financial support. Contact the Money & Funding Advisers to ask about the application process.