I may be asked to sign up as Guarantor for my child in her newly-found houseshare with six other students. Rent will be inclusive of bills.
Just wondering if there is anything you would advise I look out for before signing. At the moment she is renting in halls but wants to share a house with friends in her second year. Appreciate any tips.
Make sure that you are only Guaranteeing your child's portion of the agreement, not the other tenants.
Check which bills this will be inclusive of. Will they have to organise their own broadband and TV license for example? Also for things like heating the landlord might set the thermostat for example.
in general they dont have a lot of choice about renting after the first year as there aren't enough hall rooms for all and first years have priority.
If the landlord is not from a college approved list get the contract checked by the Student Union, who will know what is possible locally.
Check when rent has to be paid and what deposit is expected. In some parts of the country there will be a year lease, in others you may be able to get a 9 month contract. Deposits often have to be paid in summer before they have next year's finance.
Deposits should not be held by the landlord, check who does hold them.
Always wise to have your own photos showing the state of the property - preferaby signed by landlord or their agent.