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Thread: guarantor

  1. #1

    Default guarantor

    Hi could anyone please give me wording for a tenancy agreement clause which would would effectively hold a guarantor to stand good for costs or loss that could be incurred by a tenant thanks.

  2. #2
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    Name them as tenants jointly and severaly in the tenancy agreement.

    Keys

  3. #3

    Default

    Thanks, I phoned Tom @ tenancy services yesterday, he said that the guaranor is not a tenant and that I should write an addendum to the agreement for the guarantor. Looks like naming the guarantor as one of the tenants might be commonly done but may not actually stand up in TT. His advice was to have some thing enforceable (looks like guarantor written in as tenant is not). If a guarantor may be held accountable I think the Disputes tribunal is used instead. Thanks for watching.
    Last edited by Real buzz; 08-03-2007 at 09:22 AM. Reason: grammar

  4. #4
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    Quote Originally Posted by Real buzz View Post
    Looks like naming the guarantor as one of the tenants might be commonly done but may not actually stand up in TT.

    Hmmm, I was unaware that there were classes of tenants.

    As far as I know, if you're named as a tenant, then you are a tenant.

    With the applicable rights and obligations.

    (maybe I'm wrong)

    Keys.

  5. #5

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    Hmm, you would think that Tom @TS would know his onions but more posts would be interesting, thanks

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    Quote Originally Posted by Real buzz View Post
    Hmm, you would think that Tom @TS would know his onions but more posts would be interesting, thanks



    Ring three times on different days and try to get different people. Once as a landlord, once as a tenant and once as a guarantor. See what answers you get.

    But hey, I'm only one investor here.

    Keys

  7. #7

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    Oh yes... I like it. will do!

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    Quote Originally Posted by Real buzz View Post
    Oh yes... I like it. will do!

    And when you do, tell them you're recording the conversation. You don't have to actually record it, just tell them. After all, they are recording you.

    Just had a chat to "mike" who confirmed my earlier post. A tenant is a tenant is a tenant. There are no classes of tenant. They don't even have to live there.


    Keys

  9. #9

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    Hey thank you for checking, certainles looks much easier to mum or dad on the tenancy so will give it a go

  10. #10
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    Quote Originally Posted by Real buzz View Post
    Hey thank you for checking, certainles looks much easier to mum or dad on the tenancy so will give it a go
    And watch mum and dad's reaction when you explain fully to them the implications of going on the tenancy agreement. That will tell you a lot.

    Keys


 

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