Rent problem

[refmum]

Hi, I have found a property to rent,however i need a guarantor and my parents,although willing to help me out financially if i ever need it are not prepared to be my guarantors as they feel they could not afford to pay my rent for months on end if i couldn't. They don't want to commit to a legal binding position (and i can understand this).

I am going to offer to pay the security deposit and can double it to give landlord more peace of mind and also offer to pay landlord's rent guarantee & expenses insurance which will cover him in the event that i fall into arrears (i am not envisiging this ever happening but the landlord needs to feel he is covered if that should happen)

Has anyone else come across this problem (having no guarantor)? If so,what did you do? were you still able to rent?

Am very worried about this.

I'm pretty sure I didn't have a guarantor when I signed my rental contract. A contract is a contract, so if I don't pay my rent he can take me to court. Mine's with a private landlord so if you're going through an agency it might be different though. I certainly wouldn't pay double the security deposit though and as for the insurances you talk of - they are the landlord's responsibility surely? Why should you pay them?

Look,(s)he either wants you to rent the place or not. Don't bend over backwards and put yourself at extra expense to rent somewhere. The fact is in this day and age no-one's job is secure, people split up etc, so he could rent to a couple with one child who both work and all it would take would be for them to split up and/or one of them to be made redundant and they may go into rent arrears. I don't know your circumstances but you are no bigger risk than anyone else.

Thanks,that's very true,think i'm just so desperate i'll do anything : (

My friend didn't have a guarantor, plenty of extra money but no guarantor. She lost the place she wanted and ended up living back with her mum! They do seem to be 'popular' with landlords these days!

Hi Refmum - Why is a guarantor needed - is it because of your age? You could try speaking to your local council Housing Advice team- the one I work for has a Deposit Guaruntee Scheme which definitely doesn't involve you forking out extra money.
Also if you claim LHA(housing benefit) you could offer to have it paid directly to the landlord.

Deposit guarantee scheme isn't same thing I don't think?

Refmum, I know you are moving from forces property, maybe ssafa/ British legion/ex's old reg can assist??

Why do you need a guarantor? We don't have one and never have. We have rented for 10 years - although only 2 places.

No it isn't but it can provide a reassurance to a landlord who might otherwise be a bit flakey about letting with out a gaurantor. However you would usually need to register with the scheme before finding a property to rent. Also not all councils do this in which case getting to the bottom of why the L/L wants to go down this route is useful so you can suggest alternative solutions.

Hi,thanks for all your advice.

A guarantor is needed as i'm a lone parent with no job,i am 38 (so not young lol!)

I need to discuss this further with the landlord don't i?

S/he would need reassurance that the rent will be paid for the time that is on your contract. You need to prove you can pay the rent is all.

Refmum

Have a quick word with social services, If you are going to have nowhere to live they usually sign as garauntors in some areas.

Also if you get HB see if you can get the HB office to provide evidnce they can pay rent direct to landlord

Housing benefit cam change tho..... And it's no guarantee if op startswork. They will need a proper guarantor.

Have they given a list of acceptable options for a guarantor?

No ILoveTIFFANY they haven't,my mum said she'd do it but now feels she doesn't want to be liable to pay my rent if i can't pay it,i see what her worries are,she owns her house outright and lives off her savings,she couldn't afford to pay for long and she could be taken to court if she had signed as my guarantor and didn't pay up.

yes,i guess its a big ask.....also i thought a guarantor has to be able to prove that they have the means to repay the rent should it fall into arrears

I can kind of see your parents point,but i am my DS1s guarantor for his privately rented accommodation,this is via a big posh lettings agency.
I am on Tax Credits with no savings!and my income has never been questioned.

Hi Jellykat,for my mum she just knows that if the council didn't pay up and the landlord came to her as guarantor for the rent she would be able to pay for a while but not for long and she feels she would then be at risk of being taken to court etc... i've tried to reassure her that this is unlikely to happen but it is still a possibility in her eyes so is not prepared to take the risk,very hard for me though but can see where she's coming from.

What would you do if your son couldn't pay his rent for some reason and his landlord expected you as guarantor to step in and pay his rent? could you do this and for how long?

I reckon i could do a few months, if i sold some things,borrowed ..but i know he would too.

I guess i don't worry because he wouldn't disappear,it would be a shared problem,not just his.. does that make sense?
We'd work together to sort it out,i expect my brother would muck in too.It just doesn't panic me,it will probably never happen.

What i'm saying tho' is you don't necessarily need to be whiter then white financially to be a guarantor, i have no credit rating because i always banked with building societies until recently,and have never borrowed any money..therefore have no 'banking' history,good or bad.