Guarantor Process Advice

I’m about to advertise my vacant property which I manage myself. One thing g I’ve never done, but intend to now is to seek a guarantor for suitable tenants. Can anyone offer advice and/or provide links for the guarantor process ?
Is this a big stumbling block in finding a tenant and enforceable as I’m reading courts not always accepting legitimacy

Guarantor agreements often fail for a number of reasons and it is better for a landlord to find a tenant who doesn’t need one.

Typical problems include:

  • poorly drafted agreements that are unenforceable
  • agreements that don’t survive past the first rent increase or tenancy renewal
  • Guarantors not being given a copy of the tenancy agreement first
  • Guarantors not being given time to read everything and consider their decision
  • Guarantors not being advised to consult a solicitor.

If you still intend to pursue one, I suggest you join the NRLA and use their guarantor agreement.

1 Like