Replacement guarantor?

Replacement guarantor?

pic showing dictionary definition of guarantor for landlords and tenants property118.com
10:24 AM, 4th January 2023, 3 years ago 14

Hello, We rent a house to a young family who have been tenants for 2 years. At the time we asked for a guarantor, which they were happy to provide by way of a family member.

The tenants are now saying that they have had a fallout with the guarantor and would like them removed from the agreement.

They have said they’re happy to provide a new guarantor if necessary.

We would like to keep a guarantor as extra security in these ‘financial crisis’ times, especially as only one of them are now working as the wife has decided to give up her job to be a full time stay at home mum.

I would like to know if it’s just a simple procedure of referencing a new potential guarantor which would then replace the previous one, or if it’s a bit more complicated?

Thank you,

Ashleigh


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