Guarantor for fixed term or duration of tenancy?Make Text Bigger
I read an article on here a couple of weeks ago about landlords now taking a guarantor as extra security regardless of whether the tenants pass their own referencing or not. I thought this is a very good idea, so I have just signed up some new tenants with a homeowner guarantor.
The guarantor has now asked me if the guarantee is for a fixed term, say 6/12 months or is it for the length of the tenancy. I have replied that it is for the length of the tenancy!
My question is am I correct in telling him this and are other landlords doing similar?
I feel that in these times when landlords have been stripped of any protection whatsoever, we need to do something extra to mitigate the risk.
Many thanks for your thoughts.
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