What Are Guarantors?
Guarantors may have to pay the rent and the cost of any damage to the property. This will only be the case if the tenant fails to do so.
What Do Guarantors Have to Do?
Guarantors will be asked to sign the same tenancy agreement as the tenants, and so become legally liable to perform the same duties as tenants.
Guarantors need to be UK residents.
Most landlords choose for guarantors to be comprehensively referenced alongside the tenant to ensure they’re suitable.
Most tenancies in the UK are created as Joint Tenancies (whereby several parties are named on one agreement) and it is important to note that this will mean that all parties are jointly liable for all the obligations named in the agreement.
In plain English that means that any one tenant or guarantor can be asked to pay the full amount owed by any or all of the other people named on the agreement, should it come to it.