When does a tenant need a guarantor?

Landlord Discussion
1

Evening all,

I’m just about to rent my house out for the first time and I’m just wondering when a tenant would need a guarantor? What would their earnings have to be for me to want a guarantor aswell? The rent of the property will be £800pcm.

Thanks in advance,

Sam

2

Hi Sam13 They would need to earn about 3 times the annual rent. Eg.rent 9600 …salary 30k. when you do a reference or credit check with eg Experion they will advise if you need a guarrantor.If in doubt you can ask for a guarrantor anyway