Rent guarantor question

[dirky dirk]

Hypothetically speaking if I was a guarantor for someone’s rent and they didn’t pay.
After the 12 month contract is up am I still liable till thry leave

And do I have the ability to start eviction proceedings?

[PhilboSE]

You’re on the hook for any costs for which the tenant is liable. This would include loss of rent that the landlord could have charged a paying tenant if your grantee stays past their tenancy expiry.

No, only the landlord can initiate evictions.

Don’t be a guarantor for a “friend”.

[davek_964]

And - the renters rights bill, which will probably become active about spring of next year - means that the "12 month tenancy" will cease to exist. Even if there is currently a termed tenancy, at the point the renters rights bill is active the term will become indefinite.

Landlords will find it even harder to kick tenants out, so you'd have no chance.

[LooneyTunes]

PhilboSE said:

You re on the hook for any costs for which the tenant is liable. This would include loss of rent that the landlord could have charged a paying tenant if your grantee stays past their tenancy expiry.

It goes beyond just rent. If they don't clean it, or worse, then the guarantor is on the hook.

We see it on occasions that a parent of one part of a couple decides to act as guarantor and thinks that if their child leaves their partner then that's the end of their commitment. It isn't.

It isn't something to enter into lightly.

[untakenname]

These days it's more nuanced than saying a blanket no to being a guarantor, especially if your the parents of the rentee.

Due to the scarcity of rental properties many landlords now require a guarantor even if the tenants are professionals with well paid jobs and perfect credit scores, from their point of view I can see why as there's no downside for them and a lot of risk renting to someone without.

[Jeremy-75qq8]

One option is for the guarantee to be limited in amount or duration.

[Zolvaro]

dirky dirk said:

Hypothetically speaking if I was a guarantor for someone s rent and they didn t pay.
After the 12 month contract is up am I still liable till thry leave

And do I have the ability to start eviction proceedings?

You are effectively guaranteeing all tenant liable losses for as long as a contract that you aren't party to and have no mechanism to terminate is in existence. Do not do it. If it's your child pay 12 months rent up front instead.

[Panamax]

dirky dirk said:

After the 12 month contract is up am I still liable till they leave?

You need to read the guarantee wording. It's 99% certain you'll be on the hook not just during the time they're actually there but afterwards as well, for anything they fail to perform under their contract or for any breach of that contract.

Rule 1, never lend money,
Rule 2, never guarantee anyone else's obligations

unless you're happy to be mopping up other people's mess.
Or for your kids, provided they're vaguely sensible.

[davek_964]

Jeremy-75qq8 said:

One option is for the guarantee to be limited in amount or duration.

Of course it isn't. If it was, it's very far from any sort of guarantee - and given that it's a sellers market, the landlord would simply choose somebody else.