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). 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 24 years and have let properties to hundreds of students. Although past performance is no guarantee of future outcomes, we have never required a guarantor to make a payment in respect of a tenant’s breach of their 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 taking independent legal advice before signing it.

 

4. Financial Responsibility and Your Obligation

As guarantor, you agree to guarantee and indemnify the landlord against the Guaranteed Tenant's obligations under the tenancy. This includes rent, damage and other costs, expenses, damages, fees or losses for which the Guaranteed Tenant is liable under the tenancy and this Deed.

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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 is a normal arrangement for a student group tenancy agreement. This means that if one tenant fails to meet their obligations, the other tenants may be responsible for the resulting shortfall or liability.

 

The Deed also provides that where there is more than one guarantor, all guarantors are jointly and severally liable. Each guarantor's guarantee covers the Guaranteed Tenant's obligations under the tenancy, including obligations for which the Guaranteed Tenant is jointly and severally liable with the other tenants.

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