Tenant wants to use a rent Guarantor Company?
9:34 AM, 9th October 2020, 6 years ago
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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
5 comments on this article
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Anyone use an App?
Member Since July 2013 - Comments: 2061 - Articles: 21
10:46 AM, 9th October 2020, About 6 years ago
Hi Paul see this recent discussion: https://www.property118.com/online-guarantor/
Member Since April 2014 - Comments: 136
1:19 PM, 10th October 2020, About 6 years 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.
Member Since April 2014 - Comments: 38
1:47 PM, 10th October 2020, About 6 years 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.
Member Since July 2017 - Comments: 2
11:56 AM, 12th October 2020, About 6 years ago
Reply to the comment left by Ian Narbeth at 09/10/2020 – 10:46
Thanks Ian.
Member Since July 2017 - Comments: 2
11:57 AM, 12th October 2020, About 6 years ago
Reply to the comment left by William Williams at 10/10/2020 – 13:19
Yes, that is what I was wondering.