OpenRent Community

Is a guarantor legally required to pay if tenants stop payments?

Hi,

Can anyone tell me how a guarantor works? I’m trying to let out my property and have had some people advise me to get in guarantors for extra security if I go for anyone on any kind of benefits, does it actually work or is it going to be more headache for me in the long term trying to get a guarantor to pay up if tenants don’t? Will they be legally required to pay or will it cost me more going through courts etc? I’m not too sure how the process works and would appreciate any info,
Can someone shed some light on this please,
Thank you

a Guarantor does what it says on the tin “i will pay this rent if the tenant does not pay up” You have to reference them to make sure they have the means to pay if the tenant defaults. Get the paperwork correct and they are legally required to pay. Of course this costs money.!

1 Like