Can Rent 2 Rent be made safer? What assurances are needed?
3 years ago | 8 comments
Guarantor Issue?
9:38 AM, 31st October 2022, 3 years ago
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Hello, We agreed to be guarantor for our son’s ex-girlfriend as she was having his baby. Subsequently, it has turned out not to be his.
My question is, we are now getting to the end of the first year of tenancy and I contacted the agent to say to we will no longer be guarantor and could they confirm this.
Their reply was as she is staying in the property she will move onto a periodic tenancy so we have to remain guarantor.
It states this on the Deed of Guarantee but this was never pointed out to us and we would never have agreed to an on going situation.
Do we have any comeback on this to got ourselves removed?
Sarah
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Member Since July 2013 - Comments: 1998 - Articles: 21
11:13 AM, 31st October 2022, About 3 years ago
Dear Sarah
You should take legal advice if you receive a claim. As a landlord, I draft my guarantees so that the guarantor remains liable during the periodic tenancy. A “well-drafted” guarantee may therefore endure beyond the fixed term.
However, guarantees are construed strictly against he beneficiary so it is worth checking the precise wording. It is also worth seeing if the tenancy has been varied.
Does the guarantee have a statement that you have taken advice or were advised to take it but decided not to?
Member Since January 2015 - Comments: 1438 - Articles: 1
4:10 PM, 31st October 2022, About 3 years ago
Read the guarantor document very carefully.
As Ian Narbeth says look for a clause/sentence that advises you to take legal advice before signing. Did you? We’re you being pushed by the letting agent to sign or given a chance to get legal advice by them? Did you sign in their office?