4 - Guarantor
A guarantor is always recommended.
If there’s no guarantor, leave as default ”no” and go to the next page.
If there’s only one tenant, the only option available will be ”single guarantor ...”.
If there’s between 2 and 9 tenants, two options are available.
Single guarantor for entire tenancy (recommended)
This is the recommended option.
When selecting this option, there will be one guaramtor for the entire tenancy irrespective of the number of tenants.
A common usage would be a couple taking a property and one of the parents acting as a guarantor. The guarantor would be guaranteeing the tenancy for the whole rent and damages.
Name of guarantor
Enter the full name of the guarantor including title.
Guarantor email
The email will not be shown on the agreement. It is only used for digital signing. If you don’t plan to use our integrated digital signing, you can leave this blank.
Address
Enter the current home address of the guarantor. You should always confirm their address (perhaps via recent utility bill) and ideally, we recommend all guarantors are home-owners which can be checked using the Land Registry.
Multiple guarantors (one for each tenant)
We are sometimes asked about having multiple guarantors for a single tenancy - commonly with student lettings. This is now possible in Tenancy Builder 3.
When this option is selected, names, addresses and emails will appear for the guarantor for the same number of tenants. Each guarantor will have their accompanying tenant name by them.
Name of guarantor
Enter the full name of the guarantor including title.
Guarantor email
The email will not be shown on the agreement. It is only used for digital signing. If you don’t plan to use our integrated digital signing, you can leave this blank.
Address
Enter the current home address of the guarantor. You should always confirm their address (perhaps via recent utility bill) and ideally, we recommend all guarantors are home-owners which can be checked using the Land Registry.
Please note: multiple guarantors for multiple tenants is not an ideal solution.
The rent is a single rent for the entire tenancy (despite any personal arrangements for each tenant to pay). As such it’s difficult to know how much you would be able to claim from an individual guarantor for an individual tenant. There is also a similar problem if damage is done to any communal area.
The ideal is to have one single guarantor for the entire tenancy but we understand this is not always possible and sometimes guarantors wish to only guarantee their own tenant.
The alternative solution is to do individual tenancies on a room by room basis. That way you then have a single guarantor for a single tenancy.
For the pros and cons on doing joint and several or individual tenancies, please see this article.
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