A guarantor is someone who agrees to cover a tenant's rent if the tenant fails to pay. Typically, a guarantor could be a parent, close friend, or relative. If the guarantor also fails to pay, the landlord can take both the tenant and the guarantor to court. Landlords or letting agents may verify the guarantor's financial ability to cover rent in the same way they check the tenant’s ability to pay.
In many cases, the guarantor’s responsibility may extend beyond rent to include covering damages caused to the property. Landlords and agents often prefer a guarantor who resides in the UK, as it simplifies legal proceedings. If you're an international student without a UK-based guarantor, you may be asked to pay more rent upfront.
It's essential to carefully review the guarantor agreement before signing, ensuring that the guarantor is only responsible for rent and tenant-caused damages. If the tenant shares the property under a joint tenancy, the guarantor is typically responsible for the entire rent, not just the portion owed by one tenant.
A guarantor’s liability usually lasts for the entire tenancy period and only ends under the following conditions:
Any changes to the tenancy agreement can end the guarantor’s liability unless the agreement specifies that the guarantee applies to future changes or renewals, or if the guarantor consents to the change.