Page 2 | Asked to guarantee students rent for next year ..

Springsnake · 2021-03-02T11:33:23+00:00

It’s thousands,he’s not even sure he’s going back ,but wants to get a place just in case . The agency has just emailed us the details to sign When the fuck did this become a thing

IHaveBrilloHair · 02/03/2021 12:55

It was a thing when I went in 1996!
Dd and her Bf rent a flat permanently and they needed separate guarantors.

EarringsandLipstick · 02/03/2021 12:57

@askmeagainin5

I’ve seen quite a few threads on MN being shocked at this recently. I swear it’s been commonplace for years and years. And everybody I know just did it because they knew they had to - DC most likely won’t be able to find a house that doesn’t ask for this. He’d have to see if the uni-owned halls could find him a place despite not being in first year and that’d probably be crap for him.

As a PP said, you only have to pay it if he doesn’t. Do you see a reason why he wouldn’t?

Exactly this.

I can't understand your issue OP?

EarringsandLipstick · 02/03/2021 12:59

@Springsnake

It’s one for the whole house The other 2 parents have already signed

Still all sounding normal.

Re the amount - that obviously depends on what amount is owed in the hypothetical situation that he dropped out & couldn't pay.

You therefore would be paying the proportion of the rent owed. Easy to calculate.

I think not knowing this is a thing is fine! But the horror at it as it's unreasonable totally seems v odd to me.

BarbaraofSeville · 02/03/2021 13:06

I can't understand your issue OP

How about being expected to commit to possibly paying thousands of pounds that she doesn't have, in the event that her own adult child and two strangers don't pay what they have said they would do.

The OP doesn't know anything about the housemates or their parent's circumstances. Worst case scenario is that one of the housemates doesn't pay, their parents can't or won't pay and they come after the OP for rent that hasn't been paid by someone she has never met and has no responsibility for.

Ridiculous. And people accept this?

VettiyaIruken · 02/03/2021 13:06

Like fuck should you agree to something before seeing the figures!
Email back and say you will need to know what you are agreeing to.

Would it even stand up in court if they made you agree before allowing you to know what you're agreeing to?

Original poster

Springsnake · 02/03/2021 13:07

It’s £12500,and all parents are liable for the full amount.

OP posts:

emilyfrost · 02/03/2021 13:20

@Springsnake

It’s £12500,and all parents are liable for the full amount.

Only if they don’t pay.

Blobby10 · 02/03/2021 13:25

Springsnake when my son moved into private student house in his second year I too was shocked that, as his guarantor, I would be liable if one of his housemates didn't pay. In the end, one of them was defaulting on his rent so the remaining 3 literally sat him down and wouldn't let him move from his laptop until he had paid!

FatRascalsAndJam · 02/03/2021 14:16

Some unis offer a scheme where they act as guarantors for private lets if the student doesn’t have access to a guarantor - may be worth looking into. Of course, whoever the guarantor is that doesn’t change the fact that he’s still wholly liable for the rent. Does he currently have a job or loan to cover the rent if you aren’t already contributing to his share?

For a number of reasons we were covering the bulk of student DC’s rent when we were acting as guarantor, so it was somewhat a moot point as we weren’t going to default on ourselves! Are you sure he’s not expecting you to contribute?

And as PPs have said read the contract inside out to make sure you’re only guaranteeing his rent.

EarringsandLipstick · 02/03/2021 17:01

@BarbaraofSeville

I can't understand your issue OP

How about being expected to commit to possibly paying thousands of pounds that she doesn't have, in the event that her own adult child and two strangers don't pay what they have said they would do.

The OP doesn't know anything about the housemates or their parent's circumstances. Worst case scenario is that one of the housemates doesn't pay, their parents can't or won't pay and they come after the OP for rent that hasn't been paid by someone she has never met and has no responsibility for.

Ridiculous. And people accept this?

Barbara it's completely standard. Has been for decades at least.

It only becomes an issue if her DC and / or others don't pay.

Original poster

Springsnake · 02/03/2021 17:57

Thanks everyone,it’s given me lots to think about

OP posts:

TillyTopper · 02/03/2021 18:01

I think this is normal. You give the guarantee - but probably he'll get a student loan for most of it? I clicked on this thread as I paid DD's deposit today and signed the guarantee last week.

WinterRobin · 02/03/2021 18:11

If he’s not sure that he’s going back, then don’t guarantee it, because you will then be liable when he doesn’t pay! With all the uncertainty this year, there will probably be other houses available later on, when he’s made a decision to stay. My dd is going back into halls next year. Is that an option for your son? Her uni has been good about not taking payments when she hasn’t been allowed to use the accommodation. If he isn’t sure about continuing then he shouldn’t be signing up for a house as it’s a contract to pay. The agents are quite pushy too. When my dd was considering a house share, there was a lot of pressure to sign by 9am the next day.

VivaLeBeaver · 02/03/2021 18:15

Problem is if he doesn’t go back he doesn’t get the loan.

If another kid drops out and their parents don’t pay it sounds like they could come after you.

Einszwei · 02/03/2021 18:18

Some private landlords are more flexible. I know of some who will go without the guarantor, as long as rent is paid quarterly and up front.

BarbaraofSeville · 02/03/2021 18:25

It only becomes an issue if her DC and / or others don't pay

But that can happen. There's plenty of stories on the internet about guarantors who are having to pay, often putting themselves into financial difficulty. £12.k is an awful lot to sign away as 'it'll be fine'.

There will probably be quite a few people who don't really understand what they're signing up for, especially the part about being liable for the whole rent, not just their DCs share.

At least the OP does understand what's being asked of her, and is questioning it. From the landlord's point of view, there's no point accepting a guarantor who wouldn't be able to pay up when they were asked to.

It's also unfair on the other guarantors, if there was a situation where tenant A didn't pay their rent, and parent A didn't or couldn't pay either. The landlord would then come after tenants B, C etc and guarantors B and C, who now realise they've agreed to cover the financial difficulties potentially of someone they barely know.

EarringsandLipstick · 02/03/2021 20:20

Yes Barbara it can happen. But it's part of the weighing up a parent has to do with a child at 3rd level.

No student loan scheme here in Ireland. So there's a lot of upfront costs that even those that are covered by the grant scheme (for those below a certain income threshold) have to pay.

Embracelife · 02/03/2021 20:58

@Springsnake

The letting agency sent an email ,that we can’t even see how much it is ,untill after we have agreed it . Plus it doesn’t say if it’s an individual letting or joint one

Your ds must know what the rent is? It s only if he does not pay Such as he spends all his loan elsewhere

whatsthestory123 · 02/03/2021 21:42

yes i am for my son and im on benefits

but live mortgage free so im guessing this is how i can be one

Cupoftchaiagain · 02/03/2021 21:52

It’s a horrible practice and another barrier for young people from lower income families. Parents risk having to pay full rent (ie for up to a five or six person house) for a year!! I can’t imagine being in position to be able to do that for my girls.