Guarantor Deed Notes

Please read these important notes before completing the Deed of Guarantee

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1.  No Deposit Policy
We do not take a tenancy deposit (security deposit). This means tenants do not need to pay a deposit of over £3,000. Instead, each tenant must provide a guarantor. There will be four guarantors for this tenancy.

 

2.  Track Record
We have been student landlords for over 23 years and have let properties to hundreds of students. Although past performance is no guarantee of future outcomes, we have never asked a guarantor to pay rent or compensation for a tenant’s breach of the tenancy agreement.

 

3. Legal Effect
The Deed of Guarantee is a legally binding document. If you do not fully understand its terms, you should consider obtaining legal advice before signing.

 

4.  Financial Responsibility and Your Obligation
Please consider whether the tenant is likely to meet their financial obligations under the tenancy, particularly the payment of rent. As guarantor, you agree to pay any rent, other sums due or compensation for losses arising from the tenant’s breach of the tenancy agreement if the tenant does not.  

 

5.  Joint and Several Liability
There are four tenants and each is jointly and severally liable for all rent and obligations under the tenancy. This means that if one tenant fails to pay their share, the others are responsible for the shortfall. This is a normal arrangement for a student group tenancy agreement. Each guarantor is also jointly and severally liable for the tenants’ obligations under the tenancy.

 

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