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Rental Guarantor

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  • 13-08-2008 4:48pm
    #1
    pow wow
    Closed Accounts Posts: 5,288 ✭✭✭


    Just a quick one - is it usual for a letting agent to insist on you having someone act as guarantor in case you can't/won't pay your rent? I've not heard of it before (and at 26 wouldn't be too keen on getting my parents involved!).

    Thanks.


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    You're renting the property- not buying it. I've never heard of a renter needing a "guarantor" before in my life- its bizarre. At 26, you're bloody right- why on earth should your parents have anything to do with your rental of a property? On what legal basis could a third party be pursued were someone to default on a rental property? It just doesn't make any sense whatsoever.......


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    #3
    Jo King
    Banned (with Prison Access) Posts: 2,139 ✭✭✭Jo King


    I have heard of it. I was asked for a guarantor once. I did not get a guarantor and thus did not get the property. It is not usual but not unheard of.
    A guarantor can be pursued legally for outstanding rent and damage if a demand has been made on the tenant and the tenant fails, refuses or neglects to pay.
    It is more common in commercial lettings where a company is the tenant. The major shareholder will often have to give a personal guarantee so that the landlord is covered even if the company goes bust.


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    #4
    eth0_
    Registered Users Posts: 10,846 ✭✭✭✭eth0_


    I'd tell the letting agent to p1ss off, and find somewhere else! You're an adult, they ask for work and previous landlord references and that is quite enough to judge whether a prospective tenant can pay!

    It's a TENANTS market now.


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