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Question

Preventing Controlling and Recovering Rent Arrears (England)

No guarantor

23 May 2017 | 1 comment

Alot of my prospective tenants are not young and do not have the means to offer a guarantor.
What viable alternatives are there. I have put my self in their shoes and would have the same issue even though I would score highly in all other areas.

Answer

1 Comment

  1. guildy

    Irrespective of age or income, we would always highly recommend getting a home owning guarantor. It’s not just about getting the rent but also the ability to go to someone other than the tenant for redress. Guarantors will often put a lot of pressure on a tenant should the landlord start seeking payment from the guarantor.

    However, the only other alternative I could think of would be rent guarantee insurance. This would work where the prospective tenant had good credit although often the insurance will insist on a guarantor!

    HomeLet are a big name for this purpose although it’s generally agents who would use them rather than the landlord going direct. The problem with rent guarantee is (a) they only insure good tenants and (b) it can be expensive.

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