What Is A Guarantor?
When a Landlord agrees to accept a tenant into his or her property, they are taking a risk that the tenant will pay the rent for the duration of the tenancy period, look after the property, and move-out when agreed.
Landlords understandably want to takes steps to minimise the risk they are taking. For tenants who are in full-time employment, it is usual to perform credit referencing to check affordability. However, this is not suitable for some tenants, such as students, and in those cases, we ask for a Guarantor.
When a landlord hands over the keys to their property, one of their most important assets, they are risking more than just loss of rent. A Guarantor is one way of a prospective tenant demonstrating their suitability and securing the property.