Only My Share - rent arrears protection for students - anyone got experience?(2 Posts)
CointreauVersial Wed 04-Mar-20 12:55:19
CointreauVersial Sun 08-Mar-20 16:37:14
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DD1 has signed a rental agreement for her second year accommodation at UEA - a house share with four friends.
Like a lot of student house tenancies she will be "joint & severally liable" for the rent, so if one housemate fails to pay she (and/or her remaining housemates) can be pursued for the shortfall.
We've no reason to suspect anything will go wrong, but, let's face it, she hasn't known these girls for very long. While researching this sort of issue I came across a company called Only My Share, who offer protection against this eventuality, for £99 one-off. Does anyone have experience of them?? I did find an old MN thread, but it was from 2017, when they were new to the market, so not many people had used them.
Interestingly, none of the parents were asked to guarantee - but ultimately, as we are assisting her financially, it would fall to us.
(this isn't a thinly-veiled ad for them, by the way.....I'd not heard of such a thing and am just looking for any insights!!)