3 Tenants with 2 Guarantors

Landlord Discussion
1

I need guidance on signing a AST where I have 3 tenants with 2 respective Guarantors.
All 3 are collectively going to take the flat on rent.
One tenant is paying 6 months advance rental without Guarantor.
Other 2 tenants have Guarantor Reference check passed.
How do I create the AST, individual AST’s making each responsible for full rent?
How do I get them to sign AST with tenant, guarantor and witness ? Need form, can open rent help?
Do I need a separate letter of Guarantee, signed by Guarantors? Need form, can open rent help?
Where can I find Fair Processing Notice form for managing data as per GDPR, can open rent help?

2

Bear in mind that all Guarantors need to be fully checked out too. It’s no good any potential tenant saying they have a guarantor and the Guarantor are not able to pay up if the tenant can’t. I have taken on tenants with a guarantor but have referenced the guarantor in the same way as I did the tenant. It’s always wise to take time to do this.Ensure your SHT Agreement for each individual has it all clearly stated …

1 Like
3

Hi Ajay,

In a joint and severally liable tenancy, all tenants (and indeed guarantors) are liable for ensuring the full amount of rent is paid. You can simply use our tenancy creation service, Rent Now, to ensure this is set up correctly.

Rent Now includes a digital contract signing service which can handle this for you.

No. The guarantors will sign the tenancy agreement as guarantors.

This is not something we have. I beleive landlords have discussed this before on the Community, so try using the search box to find relevant conversations.

I hope this helps,
Sam

4

Hi Sam,

In my case, the interested party are 2 international students and their guarantor resides outside UK, (Latvi a EU). How does reference work in my case?

Mel