My name is Adrian Chambers and I’m a solicitor with Law for Life.Â If you have a legal problem and need help then please call us onÂ 0800 3 10 11 12Â for a free no obligation chat and we can arrange for one of our lawyers to have a chat and see if they can help.
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I NEED TO KNOW ABOUT GUARANTORS
Guarantors are a common feature of many tenancies, particularly if you are entering into the student let market. But even if you insist on guarantors, it is a pretty useless exercise if you do not carry out sensible checks on the guarantors ability to pay. To be as secure as possible, you should satisfy yourself that the guarantors:
- Can evidence sufficient income to cover any likely shortfall or damage
- Owns a home which may provide security for any debt recovered through the County Court
- Can provide references â preferably from previous landlords.
- Is who they say they are â check their identity by reference to photographic i.d.
- Passes a full credit history search – up to 6 years
There are many companies who may undertake not only tenant checks but guarantors checks for as little as Â£30.00 per tenant or guarantor.