This template should be used by Landlords in England and Wales when they have a guarantor in place who is guaranteeing that the terms of a tenancy agreement will be adhered to by a tenant.
It is always preferable for a Guarantor to be in place. This is because when such a guarantee is in place, the Landlord will have someone else to turn to in the event that the tenant is not complying with the tenancy agreement. If a tenant then fails for example to pay rent, the guarantor will be responsible and will have to pay the outstanding amounts on the tenants’ behalf. This provides valuable protection for the landlord as tenants can be very difficult to recover money from once they will into arrears. A good guarantor should be a property owner and should be in full time work.
This template should be used to correctly record the agreement in place and would form the basis of any later proceedings should the landlord need to pursue the guarantor in place of the tenant.
This document is 4 pages in length.