Potential tenant needs a guarantor

[NickMyLipple]

And they're suggesting their employer will provide this?

We are first time landlords as we are about to move to live-in accommodation with my job.

We're going through an agent to fully manage everything, and they have said that the lady who viewed last week needs a guarantor but that her employer (a school) will do this.

Does this sound right? Is there anything we need to consider?

What would happen if she gets sacked?

exactly.....

check, check, check a third time. Do your insurers for rent guarantee and legal expenses approve this tenant?

@specialsubject thank you.

I haven't fully looked into insurance yet as (possibly naively) I didn't realise that they had to 'approve' the tenant too!!

I've had a brief shopping around look, but just thought that once I paid the premium they would cover me

If it's a private school and the prospective tenant is moving to take up employment, then that's sounds fine. Or they may have a close relationship with their employer. Providing the guarantor passes the affordability test it should be fine. The only additional risk you have with this is you need to ensure the person who signs the tenancy agreement as the guarantor has authority to do so. This might mean either the Bursar should sign, or you need a letter from the governors confirming the signatory is approved to do this. Even if she is fired they would still be liable in law as guarantors.

Oh, and take no notice of your agent if they say you don't need to check that the person who signs as guarantor needs to have a letter of authority to do so if not the Bursar. They do.

insurers are the first stop with everything when renting! the law allows her to move in and pay nothing else while you evict her, which costs and takes months. not saying she would but you must be covered against this with every tenant.

get fully informed, the buck stops with you nor the agent and agents are not regulated.