Make it illegal to ask for rent guarantor without good reason

Over the last couple of years I've noticed an increase in agencies asking for guarantors for all tenancies. I believe this is mainly something they are offering as part of the "deals" they use to attract landlords to pay for their services, or to save money by just using a guarantor instead of paying for proper referencing and credit checks. 

Personally, I think it should be illegal to ask for a guarantor unless there is a good (and defined) reason for doing so, e.g., they are a student, it is a high risk tenancy for some other reason, or there if there is a known history of the tenant defaulting on the rent. 

I am a middle-aged professional who has never missed a rent payment in my life, so I was shocked to be asked for a guarantor when discussing a potential tenancy wth an agency. I'm in my forties and certainly don't have someone who could pay my rent for me if I defaulted on it!!!

Nor is it ethical for people to be asking elderly parents and grandparents to be signing up as rent guarantors just because they want to help relatives get tenancies.

 

Why the contribution is important

It's important that, if letting fees are banned, we don't see agencies asking for gurantors becoming the norm (because it's cheaper for them!) -  as this could make it difficult for people who don't have wealthy family to get tenancies.  

by Beth on September 10, 2018 at 09:58AM

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