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What is a Rent Guarantor?

A rent guarantor is someone who agrees to cover your rent if you are unable to pay. If you default on your payments, the guarantor is responsible for covering rent arrears, as required by your accommodation provider.  

Providing a guarantor is standard practice when renting a property in the UK. However, meeting guarantor requirements can be challenging, as they often must:  

  • Be between 18 and 75 years old  
  • Be a UK homeowner  
  • Earn at least 2.5 times the monthly rent  
  • Have a strong credit history  

A guarantor provides landlords with financial security, ensuring that rent is paid on time and in full. Additionally, they may be responsible for other costs outlined in the tenancy agreement, such as damages exceeding the deposit or liabilities under a joint tenancy agreement.  

If you don’t have a qualifying guarantor, Housing Hand can stand as your rent guarantor, making it easier for you to secure your accommodation.