Every Tenant at urbanest needs to have a Guarantor for their Tenancy; this guide explains what a Guarantor is, and who can be a Guarantor.
What is a Guarantor?
Effectively, a Guarantor is a person who will pay the Rent on behalf of the Tenant should they fail to do so themselves.
The Guarantor (or any other willing and able party) can also pay for the Rent on behalf of the Tenant should they wish to do so.
Who can be a Guarantor?
At urbanest, we accept any person over the age of 21 to be a Guarantor on behalf of a Tenant. They do not need to live in the UK, but we do need a copy of their ID and proof of their home address (dated within the last 3-months).
Your Guarantor cannot be another urbanest UK resident during the same tenancy period.
Do I need a Guarantor?
Every Tenant must have a Guarantor, but if you make the Rent payments yourself, we will have no need to contact them (unless in case of emergency).
Can I be my own Guarantor?
We need another person (over the age of 21) to act as Guarantor; you cannot be your own Guarantor.
What if I don't have a Guarantor?
Any person (over the age of 21) who is happy to co-sign the Tenancy Agreement, UK-based or otherwise, can be your Guarantor. If you don't have anyone who is willing to act as your Guarantor, you may wish to use a company like Housing Hand who provide a Guarantor service for a fee.