Some cities are so expensive that they need a rent guarantor or co-signer before getting the keys to your new apartment. Some New York landlords require tenants to earn 40 times the monthly rent or need a deposit as a type of insurance. Good morning. We have been living with us for 8 months and the owner has just given us a new one-year contract. But he gave us some kind of guarantee to send him back. Do we need that, since we have already lived there 8 months and all the cheques have passed, etc. as the first contract by rental agents and we are both in our thirties and we earn a lot. Thank you my guarantor signed a deposit form 3 years ago, but there is no date on the duration of a lease. It`s been six months. After that, we only signed two contracts, but our guarantor has not signed anything since. Some people have said that because there is no date to indicate the length of the rent, it will be my guarantor until I am in this apartment. Can you tell me if it is or not? You may need a ”guarantor” to rent a place to live. A guarantor is someone who agrees to pay your rent if you don`t pay it, such as a relative or close relative.
If a tenant believes that the landlord is not complying with the contract line – for example, if he does not keep the property in a repair condition – then the tenant should first talk to his landlord. The landlord has a duty of care to the tenant and may be able to solve problems, depending on the type of service the landlord has with the real estate agent. Look at your ”welcome letter” to find out your landlord`s level of service. Alternatively, a tenant can be self-advised by the citizens` council office. Most lease guarantees cover unpaid rent and property damage. The guarantee only covers the debts mentioned in the guarantee contract, so that if the contract only mentions rent arrears, property damage is not accounted for. This could be a problem if you come from abroad – for example, if you are an international student. If you don`t get a deposit that lives in Britain, you may be asked to pay more rent in advance. Once you have signed your lease, you will be responsible for the terms and conditions of payment for the remaining term of the lease. Similarly, any person who has registered as a guarantor or co-signer undertakes to comply with this obligation for the same period. An owner may accept an amendment that returns the designated guarantor to another person, but is not required to do so.
Owners will generally want a guarantor living in the UK, as it will be easier for them to take legal action against a UK resident if they need it. This means that if your rent is 3,000 USD, the landlords want to prove that you earn at least 120,000 USD per year. An owner can also apply for a co-signer or guarantor in an apartment if you don`t have a credit history or bad credit. Your landlord may want to check if your guarantor is able to pay the rent in the same way they checked your creditworthiness. For example, by conducting a credit quality check. If all the common guarantors have signed, they can be sued individually or collectively. My sister asked me to be guarantor of her new property and although I am a regular income on a monthly basis, I do not own my own house and I have read on many pages that this is a condition that must be met to be a guarantor. I also don`t understand why my guarantor was contacted with such a threatening letter. As if I had been contacted and told myself that I had to pay, I would like to establish a payment plan. As I said before, they had sent letters to the wrong address and even though they had my email address, I didn`t try to contact me.
It may be possible to negotiate a rent payment in advance instead of a guarantee. The surety may agree to be responsible for a portion of the rent if it is a joint tenancy agreement.