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Original poster

guarantor for student sons rent?

8 replies

spiritinthesky · 31/01/2010 22:27

any body been guarantor for their offsprings student house rent? is there anything to worry about,what can go wrong? me and husband have a tiny income,and I'm freaking out about being dropped in the financial shit.son is a careful boy,and i'm sure will pay his rent and look after house,but i dont know his housemates,could we end up being hauled to account for their debts?
I want him to move out of halls, it ll be good for him,just know we cant help financially.

OP posts:

giddykipper · 31/01/2010 22:30

The only way you can see what you're signing up for is to read the agreement. That will tell you whether you are just liable for his debts.

FairyCakeBump · 01/02/2010 15:01

Agree with giddykipper - you need to check whether it's a joint tenancy agreement. If it is, then everyone in the house will be liable to pay the rent and if one person doesn't, the others are liable for the shortfall- and if the rest of the people in the house don't cover it, you'll be liable as guarantors.

If it's a separate tenancy agreement with just your son's name on it, you'll only be liable if your son doesn't pay but you should check whether you'll be liable if any damage is caused that can't be covered by the deposit.

DirectGov has some useful information here - www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentHousing/DG_0644 17

RustyBear · 01/02/2010 15:12

I have just signed to be guarantor for DD's rent for next year (her third year, this year's was through a student rental company that didn't ask for it) and the agreement definitely said we are only responsible for DD's share of the rent (ie 1/4 as there are 4 of them)
I'm not sure what it said about damages, as I'm at work at the moment, but I know I was OK with it when I read it iyswim.

FlyingMonkey · 01/02/2010 16:04

My sister works for a letting agency. Most of their tenancy agreements are on a joint & several basis and therefore any guarantors are responsible for the whole rent, not just their child's portion. If it's a shared house, the likelihood is that it will be a joint & several agreement.

Lilymaid · 01/02/2010 16:08

I think I remember DS1's student let being based on joint and several and having to hope that his friends were both sensible and traceable when I signed. Fortunately they were and I didn't have to pay for anyone else.

juuule · 01/02/2010 16:15

My dc rent was individual for them. 3 in the house - only responsible for 1/3. Damages would come out of the deposit.

purplepeony · 01/02/2010 18:01

Agree that as a guarantor you are likely to be responsible for the whole of the rent - my son has now completed uni, but when he was there one girl did not pay on time and the outstanding amount was going to have to be met by the other sharers. In the end she paid. There is not much you can do- without you as a guarantor, the agency is unlikely to let the house.

RustyBear · 01/02/2010 19:09

I've just looked at our agreement - it says
"Whilst the tenancy agreement will be a joint agreement, each individual tenant will be required to provide a guarantor, and each guarantor's liabilities are limited to the individual tenant's share of the rent"

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