Student Rental Guarantor & Parent Advice
Because Hive Estates believes in simplicity, we try to keep the whole rental process as smooth as possible. That’s why we’ll ask for a rental guarantor, to help prevent any problems arising from missed payments.
Who can be a guarantor?
To be a guarantor, you’ll have to have a monthly net income that’s three times the monthly rent of the property. Those with poor credit record or temporary employment unfortunately aren’t eligible. The guarantor is usually joint and severally liable for the whole property’s rent.
Do I have to have a guarantor?
Because students usually have a limited credit profile and low monthly income, we’ll ask for a guarantor. However, if they are not able to provide an eligible guarantor, we may ask them to pay their rent in advance instead.
For more advice on what the guarantor agreement involves, get in touch with the Hive team today.