Rent guarantor for adult child.

[ThatSchoolOfficeLady]

I absolutely don't mind doing this, but the number of documents and the level of detail they require is bonkers. Bank statements, pay slips, driving licence, my employment and HR details and council tax bills. I really hope their website is secure and they delete my docs at the end of the process. Anyone else had this thought in my situation?

It’s normaL sadly. They even got a reference from my boss - I am a professional and have been in my job area for many years !

Proof of ID and anti-money laundering process. Totally normal. There should be Ts and Cs around how your data is used and stored. Check the company is registered with the office of the ICO. Are you being asked to upload documents via a secure link?

Ditto. I was taken aback at the level of detail DD's landlord/agent required from me.

I had to provide my bosses details as a reference.

The guarantor is saying "I will cover all costs incurred until the end of the tenancy if the actual tenant can't/won't".

So the landlord/letting agency has to know that the guarantor is as financial able as the tenant. There is no point you being a guarantor if you could not actually afford to pay the rent for months on end on top of your own existing commitments.

I decided not to do it in the end as it seems that you are then not able to stop doing it. The requirements for earning for the tenant themselves are astonishing in terms of multiples - if my son earnt that much he would apply for a mortgage

Yes, it’s absurd!

I always had to provide a guarantor when I was renting - even when we were comfortably earning enough to cover the rent.

Another creeping expectation from the rental market - needing a friend or relative who could also hypothetically afford the rent.

I’ve also had this recently. As well as providing payslips and various documents, they wanted confirmation from my employer that my salary was what I said it was (even having provided payslips).

Is your DC sharing with other students? A friend of mine was caught out by the agreement. It stated she was jointly responsible for all the rent, which effectively meant responsibility for the other students as well. When they couldn't recover the missing rent from the other student's guarantor, they came after her!

It's usually lack of deposit that stops people getting a mortgage, not monthly income. Meaning home purchase has returned to being reserved for the wealthy who can gift the money.

We have just had to do this for our student ds and dd and yes it's crazy. Also both landlords want two guarantors earning a certain amount. makes me worry how students from lone parent families or who have parents who can't work etc ever manage to secure a property. We both earn reasonably ( £30-40k salaries) but what about kids from poorer families?

It’s a pain but I can see why they do it. I also wonder what on earth kids without the privilege of parental money/help do.

My daughter asked me to be guarantor for her three flatmates too. I shut that one down..

The first page had a drop down to change from all tenants to my daughter's name, thankfully.

I feel your pain. I had to go this for my mum who's 80. It was totally baffling or her and no way could she manage all the admin, uploading, all digital and zero consideration for the elderly.

She asked if they wanted her inside leg measurements at one point.

What annoyed me is that the "agent" we were renting via ldid a big fat zero.

It was all via a portal and a 3rd party. We kept wondering what are the fancy actually doing?? They get paid and are unless.

That's weird

We just had to sign to say we'd be guarantors and that was that

It's one reason that, despite getting a state pension, I still work. Income from my job and my pension will satisfy landlords, but my pension isn't enough for some.

Totally agree
I had to get a letter from my employer (NHS) saying how long I had been working there and confirming my wage!! Plus council tax bill and photo of passport etc Took me ages.

This was through a letting agency for a 'proper' flat.
The student ones previously only required a letter to be signed.

Well they would - she has literally signed and agreed to guarantee any debts.

It seems they ask for a LOT now! I was guarantor for my student son just a few years ago and they didn't ask for all that.
The only time I had anything even vaguely difficult was when they wanted confirmation from my employer and I had just handed in my resignation from one role but was still working my notice so hadn't started at the new place.
I also took out insurance to make sure I wasn't liable for my son's housemates payments too.

Yea, exactly this. I have a flat I rent out. A couple of times I've had tenants who are completely reliant on a guarantor paying their rent (e.g. undergraduate student) or where the tenant can pay the rent in theory but their employment is precarious or income low relative to rent (had a furlowed tenant during COVID). It's vital that I can trust that their guarantor can indeed pay if necessary. If there weren't robust checks I wouldn't take the risk.

Hello. Please can you tell me about this insurance, i need to get it.

I used Guarantor Insure. But other companies also provide this - a quick look online and read of each ones reviews may be helpful.

I can't tell you whether they are any good in the event of a claim as I never actually needed to claim, but it gave me at least a little peace of mind to know I had it.

That's my point, don't fall into the trap of covering other student's rent.

The problem is finding a landlord to agree to this. Some do, many won't.

It's ridiculous...we had to get one to rent our house as 2 months before an out of the blue section 21 notice my husband took out an IVA. His adult son earning over 100k a year was set to do it but an old ccj of about 200 quid meant he couldn't!