Guarantors - Welcome to Assured Estate Agents
You have been asked to complete the form below because somebody you know has asked you to stand as a guarantor for them for a rental property which we manage. We don't always ask for a guarantor so before you formally agree, you should speak to the Tenant you have agreed to be guarantor for. We only need a Guarantor for Tenants who have a low income (less than 2.5x the rental sum) or if they have some adverse credit like a County Court Judgement, so it is worth speaking to the Tenant and asking the reasons for this - unfortunately (unless the Tenant gives us permission) we cannot disclose the reason why at this stage.
Being a Guarantor means that you will pay the rent if the Tenant fails to do so. It also means that if the Tenant damages the property and fails to pay for those damages that you will pay for these.
Guarantors must earn 3x the rental value and be under the age of 70, this is for affordability purposes. You cannot withdraw as a guarantor without being released from the Deed and this will require a replacement guarantor or the Tenants must be individually suitable at this time. You will be liable until the the end of the Tenancy.
Please complete the details below, at this stage you are NOT THE GUARANTOR, you will only be a guarantor when you sign the deed of guarantee (once referencing has been completed) this form is used to assess your suitability and to provide to our third party referencing team who will be in touch to conduct your reference
If you are unsure about anything, you should contact us on 0161 850 9669 or email@example.com