In order to pass referencing, guarantors need only earn enough to afford the portion of rent of the tenant for whom they are the guarantor. Like all signatories, however, they will be jointly and severally reliable for the rent, meaning that you could purse any guarantor for the full amount of any rent arrears.
Regarding your specific trouble removing and editing guarantors, have you solved this issue with our support team by now? If not you can email them at firstname.lastname@example.org.
Hi @Biggss, You’ve accurately described how landlords must read and interpret referencing reports and then use them to make a decision about tenants or guarantors. I don’t think it’s fair to say that this is a flaw of OpenRent. This is how all referencing reports work.
Referencing companies find out as much info as possible, but they can’t tell the future. Furthermore, as I have mentioned to you before on the Community, the pass/fail result on the referencing check refers only to the availability of insurance products from the referencing company. It is not a direct judgement on the tenant/guarantor’s personal levels of reliability.
If referencing companies could, with 100% accuracy, tell landlords whether tenants or guarantors will fall into arrears and be able to pay them off, then the rented sector would be a very different industry!
I think you have a good point about guarantors been asked to guarantee multiple tenancies.