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Rental Guarantor

(14 Posts)
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Ambergirl Wed 30-Aug-17 21:21:35

Hi i just wonder if anyone here has been asked to be guarantor against a rental house and found them in the position we have today. Our son is about to rent a house with 3 other friends. They all have jobs, but my sons job is currently a temporary contract until October and then will almost certainly be made permanent. They have therefore asked for a guarantor for his rent, which is fair enough. We are more than happy to do this, but when the forms came through they want us to act as guarantor for the entire rental value of the house for the whole rental period! We are reticent and don''t understand why we need to cover the whole house and not just his 1/4 of the rent. Has anyone else experienced this and what did you do. This is no small amount and whilst there is not a great risk, there is some, so would like to know what others think.

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Iam64 Wed 30-Aug-17 21:29:24

My immediate thought is don't do this. Being guarontor for your son is very different than agreeing to do that for three others as well.

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Charleygirl Wed 30-Aug-17 21:34:38

I feel exactly the same. Rather different if each set of parents was acting as guarantor but I personally would not touch it. For your son, yes but no more.

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mammabear Wed 30-Aug-17 21:35:25

Not sure why you would be expected to be guarantor for the full rental. Sounds a bit cheeky of the owner.Think I would be asking for more info and even then doubt I would want to take the risk, could be very expensive.

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Norah Wed 30-Aug-17 21:39:05

We have been guarantors for our DDs and DGC, never their friends. I would not sign.

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tanith Wed 30-Aug-17 21:39:54

I agree with Iam64 don't go there, would you even know if his 3 friends are totally trustworthy and in secure jobs.

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Anya Wed 30-Aug-17 21:47:55

Don't agree to that.

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cornergran Wed 30-Aug-17 21:48:19

No, don't do this. The way to disaster. I'm wondering has your son somehow become responsible for all of the rent? If not there has been a mistake somewhere in the paperwork. More information is definitely needed.

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MiniMouse Wed 30-Aug-17 21:55:11

Ambergirl I found myself in exactly the same position several years ago. I refused to be guarantor for anyone except my DC. The agent put up a fight, but I told him he would either have to agree to it or look for a new tenant. He agreed!

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Ambergirl Wed 30-Aug-17 22:11:56

Thank you all.... We have been guarantors for DD and DS before and never been asked this. The letting agents this time don't require guarantors for the others as they have permanent contracts, just him....I cannot for the life of me think why they can't just put the contract for his 1/4 and not the price of all the rent for the entire year!! Just wanted to check we weren't out of touch...

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Serkeen Thu 31-Aug-17 07:39:48

There is NO need to cover the WHOLE property JUST your sons part.

There might have been a mistake at the agency

Do not sign this agreement otherwise you Will be liable for all of the rental of the property which is not right

Just call the agents and discuss it with them, letting them know that you are only happy to be guarantor for your sons part of the rent.

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Lillie Thu 31-Aug-17 08:24:08

Can you not just cross out the words whole rental amount and write in "one quarter of the rental", initial the alteration and then sign whole document?

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mcem Thu 31-Aug-17 08:39:20

When my DGD and friend decided to share a flat they each had a contract and as her guarantor I took on responsibility only for her half.

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harrigran Thu 31-Aug-17 09:04:59

Absolutely not, if they failed to pay the rent you would become liable.

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