Not having a guarantor

Landlord Discussion
1

Have other landords here let a property out without a guarantor?

2

Yes and I would never do it again
Especially since RRB will be introduced
The tenants that defaulted on rent were mainly the ones without guarantors and i had no come back to claim rent as they lived hand to mouth

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3

most of mine in the past have been without guarantors. But the past is not the future and it’s highly likely that I will require it from now on.

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4

Only one guarantor in 40 years

5

Guarantors are not the ‘fix’ that some LLs believe them to be. Wait until you actually have to make a claim against a guarantor. A guarantor must have UK assets and income that fully cover their own outgoings AND the rent of your tenant to be even worth considering. This is very few people as a percentage of the population. This topic covered many times before.

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6

The other thing not being talked about is if you have any kind of Landlord insurance, with “legal cover” i.e. for help with evicting, and obtaining possession of your property, it will be invalidated if you for example can’t evidence having done a reference check on the tenant, and / or have a guarantor in place.

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7

I have increasing used Reposit and twice successfully made a claim.
I ask for “home owning guarantors”. Any other kind is worthless.

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8

Having a Guarantor is a must

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9

I never ask for guarantors, I only let to people who can demonstrate they can afford it and pass all references.

10

You should bear in mind that applicants can only demonstrate they can afford it at the time you take up references. There is no future guarantee that any tenant can (or will) pay rent. Guarantors reduce this inherent risk to any tenancy.

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