Guarantors

When renting student accommodation in Bangor with Student Spacez, all tenants who are unable to pay their rent upfront will need a UK-based Guarantor.

We understand the ups and downs in letting property to young people and the apprehensions you may have when asked to guarantee their rent. Read on for Frequently Asked Questions (FAQs). Can’t find the answer to your question? Contact us.

FAQs:

What is a Guarantor?

A Guarantor is someone who undertakes the responsibility of paying rent and other obligations for a property should the tenant fail to do so themselves. The Guarantor will always be required to sign the tenancy agreement or letter of guarantee, making a legal obligation to ensure rent is paid.

What is a Joint Tenancy Agreement?

In the event that a group sign an Assured Shorthold Tenancy (AST), all tenants are made jointly and severally responsible for their student accommodation and any costs incurred in relation the this.

What if somebody drops out?

Following the singing of an AST, even if a tenant ‘drops out’ or leaves the property during the fixed term of the agreement, they are still legally a tenant. If a tenant wishes to end their tenancy early, we will always give the group an opportunity to find a replacement tenant.

REMEMBER: Tenants will always remain jointly and severally responsible for the property and any rent due until/if the tenant is legally released from the agreement; normally done via a Deed of Assignment.

What if one or more of the tenants don’t pay their portion of the rent?

Legally, all tenants are responsible for ensuring all rent is paid. Should any of the tenants fail to pay, ALL tenants will be liable to pay.

We appreciate that this may seem off-putting to guarantors, however from past experience the matter has always been resolved before this became necessary.

Can a tenant be released from as AST for medical reasons?

Should a tenant withdraw due to medical reasons, we would require proof of this along with a letter of course termination from Bangor University. We strive to be reasonable under such circumstances beyond the tenants control.

Please note that using a Joint Tenancy Agreement is the standard and most common procedure in student lettings across the UK and is not specific to Student Spacez.