Tenancy Guarantor Form
This form is only for landlords in England. A Guarantor Form is binding contract between a landlord and Guarantor (typically a family member of the tenant).
Table of contents
- Why buy a Guarantor Contract from us?
- What is a Guarantor?
- Is a Guarantor required?
- Types of Guarantor Forms
- Buying a Guarantor as a separate deed
- Referencing the Guarantor
Why buy a Guarantor Contract from us?
1) The Guarantor Form available on this site has been created by Stones Solicitors LLP. They are listed as a Top 200 Law Firm and is recognised by the two leading independent directories, Chambers and the Legal 500.
2) It’s quick and easy. Make payment and download instantly.
3) All payments are made via PayPal’s secure server, and you don’t need a PayPal account to use their payment gateway.
4) Our documents are all up-to-date and meet legal requirements.
Buying Process. It’s quick and easy!
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Important:
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What is a Guarantor?
A Guarantor is someone who agrees to vouch for a Tenant’s ability to pay rent and take care of the rental property. Should the Tenant default on rent payments and/or fail to pay for any damage caused to the Landlord’s property, the Landlord may proceed against both the Tenant and the Guarantor to recoup any owed money.
Essentially, the Guarantor is an extra layer of security for the landlord at no extra expense.
Is a Guarantor required?
A Guarantor isn’t legally required; it’s ultimately down to the Landlord on whether he/she requires one to be in place. Most Landlords and Letting Agents do require one, especially when letting to strangers.
It is strongly advised for Landlords to require a Guarantor.
Types of Guarantor Forms
Guarantor contracts typically come in two different forms. The Guarantor Form is commonly included in the Tenancy Agreement, but can also be drawn up as a separate contract. For example, our tenancy agreements don’t include a guarantor contract, because we provide them as separate documents.
Guarantor in Tenancy Agreement:
The Tenancy Agreement will need to contain additional clause(s) dealing with the Guarantor and setting out the liability of the Guarantor. Furthermore, all the above parties will then need to sign the agreement.
Guarantor as a separate deed:
This is a separate legal contract between the Landlord and the Guarantor, stipulating the terms and conditions e.g. what the Guarantor will be liable for.
The Deed of Guarantee must make specific reference to the Tenant and the Tenancy Agreement between the Landlord and the Tenant.
The Landlord should provide a copy of the Tenancy Agreement to the Guarantor so he/she is aware of the provisions contained in such agreement.
The Deed of Guarantee must be signed by the Landlord, the Guarantor and an independent witness.
If at any point a new Tenancy Agreement is created between the tenant and landlord, the Landlord will need to obtain a new Guarantee from the Guarantor.
Buying a Guarantor as a separate deed
There are many sources of obtaining a Guarantor Form, some even for free. However, it is important to get your copy from a reputable supplier that is distributing up to date and legal versions. We sell Guarantor Forms that have been created by award winning professional solicitors for only £3.99.
Referencing the Guarantor
It is important that thorough reference checks are made on the Guarantor (e.g. income, employment history etc). It is also often a prerequisite for the Guarantor to be a UK home owner as this makes recovery of monies much easier for the Landlord.
The landlord should to be confident that the Guarantor can cover any monies owed.