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    Right TSR, am gonna make this short and sweet.

    Who's rented a student house and had a guarantor form that makes out that the guarantor will also be liable for everybody elses rent in the event that their guarantor can't pay the rent? Do you follow?

    Basically we have just put down an agency fee and security deposit and now one of the girls fathers has said he won't sign the guarantor form because it leaves him liable for all the rent in the UNLIKELY!!! event that the tenant cant pay and their guarantor can't pay. Is this normal or dodgy?!
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    It's certainly not like that on my contract =/

    (Though this is the first contract I've ever signed)...
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    This sounds slightly dodgy... In my contract my guarantor is only liable if I can't pay. Try Citizen's Advice Bureau or your Uni accommocation office for advice.
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    It sounds a bit odd to me!!! If my housemate doesn't pay, then I would LET my parents pay for her!
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    (Original post by Lindsey123)
    This sounds slightly dodgy... In my contract my guarantor is only liable if I can't pay. Try Citizen's Advice Bureau or your Uni accommocation office for advice.
    What happens in your contract if your guarantor cant pay?! nothing?!
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    (Original post by caffee)
    What happens in your contract if your guarantor cant pay?! nothing?!
    Actually sorry mine is the same as yours, as we are joint and several liability.
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    (Original post by Lindsey123)
    Actually sorry mine is the same as yours, as we are joint and several liability.

    Ohhh really? Cause the people im meant to be living with are completely freaking out about it! Thanks for you help anyway :yep:

    Anyone else knows what theirs is just so i can see what the majority is? (Am in danger of losing £360!!)
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    our contract didnt ask for any guarantors but we're all legally liable to pay another person's rent if they move out and stop paying. your deposit sounds quite high - what's your weekly rent going to be?
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    Depends on the type of tenancy agreement you have, whether it's joint or private. If joint, then it's very common for that type of guarantor form.
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    If you have a joint tenancy (i.e. 'joint or several liability') then, under the terms of your tenancy, you're each responsible for the whole tenancy - it's not divided into little bits for each of you. If one tenant didn't pay their rent, any or all of the others could be held responsible for paying it. If all the other tenants didn't pay the rent, and then trashed the place before clearing off and leaving, you could be held responsible for all the damage and all the rent. And, if your landlord wants each tenant to have a guarantor, then those guarantors will also be taking on that responsibility. It's actually a pretty common situation for student houses and there's nothing actually dodgy about it, although I personally wouldn't be keen to act as guarantor for someone under those terms.
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    It sounds like the landlord/agency is being uber-cautious, but it doesn't sound dodgy - They just want to make sure that in any event, they will receive their rent money.

    I can understand somebody not wanting to be the ultimate guarantor - even though its highly unlikely that the tenant and the tenant's guarantor will be unable to pay, it is still a significant financial risk being placed on the ultimate guarantor.

    Check to see if your Uni has run any checks on the landlord before, just to make sure that its all above board - but it does sound like a reasonably straightforward agreement.
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    (Original post by caffee)
    Ohhh really? Cause the people im meant to be living with are completely freaking out about it! Thanks for you help anyway :yep:

    Anyone else knows what theirs is just so i can see what the majority is? (Am in danger of losing £360!!)
    To be honest it sounds like they are just being very careful and need to cover themselves. It's unlikely that a student won't be able to pay their rent, and very unlikely that their own parents won't be able to supply them with £300-400 if that does happen.
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    I believe that's what happened in a shared tenancy agreement. you are all individually and as a group responsible for the rent. So if one of you does a runner, the others are liable.Which means if their guarantor doesn't pay up, and neither does you, it's down to your own guarantor.
 
 
 

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