Hi,

I am signing a tenant up to a property today and the tenants mother has offered to be a gaurantor, looking at the arrears on my rental properties I am not going to turn this offer down. The problem is what do i get the guarantor to sign?

Do I have a seperate gaurantor form or do I just put them on as joint tenants on the AST?

Anybody help me on this one?

Regrads
Gary

Hi Gary,

If you are a memeber of the Residential Landlords Association you will be able to down load one of their forms. they have two:
1. Deed of Guarantee Limited
2. Deed of Guarantee Unlimited

I would recommend getting the guarantor to sign onto a seperate form such as these above.

Along with lots of other forms ASTs etc.

Regards, Jack

__________________
Access Lettings & Property Management
Of Teesside
Access Property Investments & Sourcing
www.access-lettings.co.uk
info@access-lettings.co.uk
Tel: 01642 607177

Put the tenants mother's name on the AST only.

Guarantee of Tenancy Agreement


On the date below, in consideration of the execution of the Tenancy Agreement, dated,
1st September 2007, for the premises located at: xxxxxxxxxxx, LITCHFIELD ROAD, STAFFORD. ST17 xxxxx

(Rental property) by and between:-

PIOTR xxxxxxxxxxxxxxx(Tenant)

HEIDI SUTTON and PAUL ROBERT SUTTON (Owner) and

BOZENA xxxxxxxxxxxxxxx (Guarantor);

for valuable consideration, receipt of which is hereby acknowledged, the Guarantor does hereby guarantee unconditionally to Owner, Owner's agent, and/or including Owner's successor and assigns, the prompt payment by Tenant of any unpaid rent, property damage and cleaning and repair costs or any other sums which become due pursuant to said lease or rental agreement, a copy of which is attached hereto, including any and all court costs or solicitor's fees incurred in enforcing the Tenancy Agreement.
'\
If Tenant assigns or sublets the Rental property, Guarantor shall remain liable under the terms of this Agreement for the performance of the assignee or sublessee, unless Owner relieves Guarantor by express written termination of the Agreement.

In the event of the breach of any terms of the Tenancy Agreement by the Tenant, Guarantor shall be liable for any damages, financial or physical, caused by the Tenant, including any and all legal fees incurred in enforcing the Tenancy Agreement. Owner or Owner's agent may immediately enforce this Guarantee upon any default by Tenant and an action against the Guarantor may be brought at any time without first seeking recourse against the Tenant.

The insolvency of Tenant or non-payment of any sums due from Tenant may be deemed a default, giving rise to action by Owner against Guarantor. This Guarantee does not confer a right to possession of the Rental property by Guarantor, and Owner is not required to serve Guarantor with any legal notices, including any demand for payment of rent, prior to Owner proceeding against Guarantor for Guarantor's obligation under this Guarantee.

Unless released in writing by the Owner, Guarantor shall remain obligated by the terms of this Guarantee for the entire period of the tenancy as provided by the Tenancy Agreement and for any extensions pursuant thereto. In the event Tenant and Owner modify the terms of said Tenancy Agreement, with or without the knowledge or consent of the Guarantor, Guarantor waives any and all rights to be released from the provisions of this Guarantee and Guarantor shall remain obligated by said additional modifications and terms of the Tenancy Agreement. Guarantor hereby consents and agrees in advance to any changes, modifications, additions, or deletions of the Tenancy Agreement made and agreed to by Owner and Tenant during the entire period of the tenancy.


If any legal action or proceeding is brought by either party to enforce any part of this
Agreement, the prevailing party shall recover, in addition to all other relief, reasonable
solicitor's fees and legal costs. By signing below, Owner, Tenant and Guarantor
acknowledge and accept all terms contained herein.

(Page 1 of 2)

Tenant's Signature

Guarantor’s Signature

Owners Signature



Tenant's Name (print)

Guarantor’s Name

Owner’s Name



Tenant's Address

Guarantor’s Address

Owner’s Address




Daytime Phone no

Daytime phone no

Daytime phone no



Date




(page 2 of 2)

Only of real value if you reference your guarantor.
For instance if she has several CCJ's against her, she's not going to worry about another from you.
Regards
Frank

Get guarantors National Insurance number - that way you can do an attachment of earnings if required...

I give the guarantor a tenancy application form, which makes them list data such as their NI number... found here:

http://www.landlordzone.co.uk/agreements.htm

__________________
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excellent cheers guys!

(info no longer relevant)