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Higher education

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Original poster

Son asking me to be a guarantor on a house share with 3 others - I'd be responsible for all rent if it went terribly wrong. would you sign?

121 replies

Ashleys63 · 18/02/2021 08:45

I don't want my son to lose the house but I'm really not sure. I wouldn't have the money to cover anyone else's part of the rent so would they take me to court etc?
My son assures me his mates are all wonderful and would never not pay their part of the rent but how does he know - anything can happen.

what would you do? I don't want to fall out with him over this .

OP posts:
converseandjeans · 18/02/2021 08:47

I don't think I would unless I could cover for all of them. I would speak to the other parents and see if it can be done jointly?

dementedma · 18/02/2021 08:48

No, sorry. Way too much risk for you to carry

ShinyHatStand · 18/02/2021 08:48

Not a chance in hell.

partyatthepalace · 18/02/2021 08:49

Yep, agree - jointly with the other parents (or at least 2 out of 3), wouldn’t do it alone unless I could easily afford a couple months penalty, especially now,

Okbutnotgreat · 18/02/2021 08:49

No way!!!

Cruncheyleaves · 18/02/2021 08:49

No I wouldn't sign that definitely not. But are you sure you would be guarantor for all? I would have thought the done thing is for each of them to have a separate contract and for each to have a guarantor.

I would tell your son no but ask him to ask the landlord for separate contracts so that you can be a guarantor for just him.

MeanMrMustardSeed · 18/02/2021 08:49

I wouldn’t. There’s definitely a way that you can limit your liability to your son’s share. My parents did this and I read about it recently on MN too. Definitely worth looking into. Try googling MumsNet student guarantor and try and find that thread.

therearefourlights · 18/02/2021 08:50

No. I’d do it for my son’s part of the rent but covering the whole lot of them is a ridiculous ask. Have they only been asked for one guarantor between them? When I was a student we each had a guarantor.

Wiglio · 18/02/2021 08:50

No way

AdventureIsWaiting · 18/02/2021 08:51

No. But I think it's a common ask. I'm sure there was a thread about this all going wrong during lockdown #1, when all the students moved back home and all bar one went AWOL. One poor parent was left to pick up the bill because all the other parents refused to engage / weren't contactable. I can't remember how / if it got resolved.

Many years (!) ago, my Dad signed mine, but amended the form saying he was only prepared to guarantee my portion of the rent. The landlady pulled a face, but since everyone else's parents had just signed the form as it was, she accepted it. Could this be an option?

Original poster
Ashleys63 · 18/02/2021 08:56

They all have to have a personal guarantor, I will just be guarantor for my sons part of the rent - however, if any of the others don't pay, and their guarantor doesn't pay, they'll go after the others so to speak.
I guess they'd try and get their money anyway they can.

OP posts:
Hadalifeonce · 18/02/2021 08:59

I signed for DS last year, I made sure on the form that I was only signing for his portion of the rent, by including his name where it said something like the rent.

cherrytreecottage · 18/02/2021 08:59

Is your son at university?

You can usually have more than one guarantor; I shared a house with 4 friends many years ago which was joint and severally and we required guarantors due to our age. Each of our parents did this, so there were 4 guarantors and not just one. Most landlords will allow more than one!

I'm sure your son doesn't doubt his friends, but you never know what could happen. As the only guarantor, you'd be responsible for all of their rent if someone fails to pay. I'd ask if they can have additional guarantors before agreeing to this.

Also, what are the tenancy terms? If you do agree, you'd need to know how long they'd be tied into a tenancy before being able to give notice - should they fall out and one/some of them leave. But not forget that if any of them fail to pay for a duration, you'd also have to cover that!

converseandjeans · 18/02/2021 09:00

Well that's different if it's just for his part of the rent. I think that's standard for student rental. Could you pay his rent and ask for his loan to cover it? I think when I was a student my parents paid my rent anyway.

cherrytreecottage · 18/02/2021 09:01

@Ashleys63

They all have to have a personal guarantor, I will just be guarantor for my sons part of the rent - however, if any of the others don't pay, and their guarantor doesn't pay, they'll go after the others so to speak. I guess they'd try and get their money anyway they can.
Sorry OP. Didn't see this before I posted. If you're only responsible for his part then Yes id do it. Even if the contract is joint and severally, they'd go to the tenant, then the tenants guarantor before coming after the others!
justanotherneighinparadise · 18/02/2021 09:06

Absolutely not.

KihoBebiluPute · 18/02/2021 09:08

If the contract he signs says that the tenants are "jointly and severally liable" (which is quite usual for shared tenancies) then it doesn't matter if you get reassurance that you are only liable for your son's share, because he will have signed that his share includes covering the rent of any house-sharers who don't pay up.

Can you manage to pre-pay in advance the whole year's rent (inc damage deposit)? Estate agents will usually waive the requirement for a guarantor if they already have their money.

If you sign as a guarantor, and someone elses parents lose their job etc (entirely possible given current global economic outlook) then the estate agents will sue whichever guarantor looks easiest to get money out of. They don't have any obligation to pursue all guarantors equally.

Original poster
Ashleys63 · 18/02/2021 09:13

That's exactly my worry KihoBebiluPute.

and yes, my son is at university.

OP posts:
AlwaysLatte · 18/02/2021 09:14

We did but just for that third of the rent. We did have to go and make some repairs that he wasn't responsible for - dings in the walls, broken cupboard door, bit of painting - but we didn't lose any money over it.

Cookerhood · 18/02/2021 09:17

It's very common & often you don't have a choice u fortunately, it's take it or leave it. One of my children we had the same thing but for the others we have been lucky & it hasn't been "joint & several".

MrsWooster · 18/02/2021 09:17

“Can you manage to pre-pay in advance the whole year's rent (inc damage deposit)? Estate agents will usually waive the requirement for a guarantor if they already have their money.”
I would only do it if this were a possibility.

FishWithoutABike · 18/02/2021 09:19

No way. Absolute disaster waiting to happen.

HoppyHop · 18/02/2021 09:22

Hi, I don't have experience of this myself but there are many threads about this on the FB group called WIKIKAU, it's mainly for parents of university students. Not sure if you're on it? There is an insurance you can take out to cover it called Guarantor Insure, maybe worth a look.

PlinkPlink · 18/02/2021 09:22

It should be that each tenant has their own guarantor.

Not that you are the guarantor for EVERY person in the house. That's absurd.

Rowenasemolina · 18/02/2021 09:23

Basically you have to. Or your finger will be homeless. I hate it but there is no choice. This is how students get housed. It’s horrible