Guarantor Documents and Guidance
What is a guarantor?
A guarantor is someone who agrees to pay the rent or damages relating to a tenancy if the tenant is unable to pay. Normally they will be a family member or close personal friend of the tenant. Typically they will also be a homeowner in the UK.
In most tenancies, the guarantor will not be necessary as most tenants pay their rent on time and leave the property in a good state when they leave. However, by securing a guarantor, landlords can have peace of mind that if their tenant does breach their obligations they will be able to recoup their losses later on.
Signing up a guarantor
To ensure the guarantor is legally bound to guarantee the terms of the tenancy, the NRLA provides two separate deeds of guarantee, depending on how much of the rent the guarantor will be guaranteeing.
You should ensure that this deed is signed and witnessed prior to signing the tenancy agreement.