| It can sometimes be the case that a tenant will | | | | their previous address for less than six monthso |
| fail their tenant check or not get a suitable | | | | They have been living abroad and they have |
| reference from a landlord or letting agent to feel | | | | recently returned homeo They have been |
| comfortable leasing out their property to them. It | | | | working for less than six monthso They are |
| is in this situation that a landlord would ask their | | | | students / They are on a low income salaryo |
| tenants to provide a guarantor. A guarantor is | | | | They have a history of debt, late payments and |
| someone that the tenant knows who will | | | | County Court Judgments on their record |
| guarantee rental payments or any other tenancy | | | | If you feel that a guarantor is needed to proceed |
| obligations in both residential and commercial | | | | with the tenancy agreement then you should run |
| leasing. | | | | an online credit check on them. You need to |
| Sometimes a tenant will fail their credit check, it is | | | | make sure that in the case of a defaulting tenant |
| inevitable. It may be the case that their | | | | the guarantor can be true to their word and pay |
| employment record isn't great, or the previous | | | | up. You can check the credit score online, most |
| landlord said they didn't pay their rent on time. It | | | | good tenant referencing sites will allow you to |
| is in this instance that it is best to ask for a | | | | check guarantors as well. The tenant credit |
| guarantor as a security measure. A guarantor is | | | | check system will let you know about the financial |
| someone which the tenant knows well, usually a | | | | history of the person you are checking against. |
| family member, who will guarantee rental | | | | Do they have debt already, missed payments, |
| payments should the tenant default. The | | | | are they on the electoral register and do they |
| guarantor is really an insurance policy against the | | | | have any CCJs (county court judgements). It is |
| tenant if a situation does arise. They will cover | | | | best to get a guarantors employment reference |
| the costs of expenses or and damages to the | | | | also to make sure they are in stable employment |
| property during the tenancy. | | | | and can afford to help the tenant if need be. |
| There are a few different factors which may | | | | The guarantor acts as extra insurance and extra |
| affect tenant check credit scores, making them | | | | caution to protect your property investment |
| look like high risk tenants which would mean the | | | | from rogue tenants. Your property investment |
| involvement of a guarantor.o They have never | | | | is important so if you are unsure about a tenant, |
| borrowed money before and have no credit | | | | get a guarantor against the tenancy agreement |
| cardso They have no fixed address and they are | | | | before progressing to the final stages. |
| not on the electoral registero They have lived in | | | | |