Tenant wants to use a rent Guarantor Company?

by Readers Question

9:34 AM, 9th October 2020
About A week ago

Tenant wants to use a rent Guarantor Company?

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Tenant wants to use a rent Guarantor Company?

Have any landlords had experience of accepting guarantees from a rent guarantor company rather than a tenant’s relative or close personal friend?

I have a potential tenant who wants to offer one of these companies (Housing Hand) and use them as the rent guarantor.

Has anyone had recourse to claim from them due to tenant defaults or damages and what was the experience like?

Should I consider this?

Many thanks

Paul


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Comments

Ian Narbeth

10:46 AM, 9th October 2020
About A week ago

Hi Paul see this recent discussion: https://www.property118.com/online-guarantor/

William Williams

13:19 PM, 10th October 2020
About A week ago

The premiums are paid by the tenant. What happens when the tenants stops paying the premium without you knowing? Not very well thought out.

Chris

13:47 PM, 10th October 2020
About A week ago

I used it once the tenant paid the first years premium upfront then did not renew it for 2nd year then stopped paying rent.
The best way is rent guarantee insurance using a guarantor if need be.

Paul Stavrakis

11:56 AM, 12th October 2020
About A week ago

Reply to the comment left by Ian Narbeth at 09/10/2020 - 10:46
Thanks Ian.

Paul Stavrakis

11:57 AM, 12th October 2020
About A week ago

Reply to the comment left by William Williams at 10/10/2020 - 13:19
Yes, that is what I was wondering.


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