Finding a property to rent can be frustrating, time-consuming - and expensive. As regulations for landlords in the UK become tighter, tenants find themselves under pressure to fulfil increasing financial demands.
Peace of mind for rent
These days, there are many different kinds of tenant; families saving for a purchase deposit, students looking for accommodation close to their university, professionals taking work placements away from home and, students and employees from overseas relocating to the UK. In many cases - particularly with tenants from overseas who don’t have a credit history in the UK - landlords are choosing to give themselves a safety net by demanding extra rent. Although some landlords only ask for an extra month or two, more and more are expecting tenants to pay for the entire tenancy up front which, for many tenants, is simply not possible. Thankfully, there is a solution to this problem - in the form of a rent guarantor.
Commonly used for personal loans and finance agreements, a guarantor is a person or organisation who agrees to take responsibility for repayments not honoured by the principal borrower. In the case of a rent guarantor, where the borrower is the tenant, this means that rent payments will be made by the guarantor in the event that the tenant is unable to do so. In some cases, the rent guarantor will also agree to cover the cost of any damage caused to the property during the tenancy.
The Ezylet Rent Guarantor
At Ezylet, we’re dedicated to simplifying life for both landlords and tenants, which is why we offer tenants our rent guarantor service. Perfect for tenants who aren’t in a position to pay more than a month’s rent in advance - and who don’t have parents who can help out - the Ezylet Rent Guarantor service will cover the amount required by a landlord, giving both the landlord and tenant peace of mind.
How does it work?
The Ezylet Rent Guarantor service will guarantee your rent for the duration of your tenancy. We charge a one-off fee which will usually be the equivalent of three or four weeks rent which will need to be paid up-front. When you apply for our service online, we’ll send you a quote for your fee. Once we have your payment, your rent is guaranteed for as long as you’re living in your rental property. Tenants who qualify for the service include:
- Tenants renting a property for 12 months or more
- UK and overseas students
- Housing benefit tenants
- Employed tenants
Note: Monthly Income must be at least 1.5 times the amount of monthly rent
Tenants can apply for the Ezylet Rent Guarantor through our simple online form. Within your application, we’ll need to see the following identification:
Students: Proof of study: Letter from College or University
Tenants in work: Proof of income: Contract of employment or last three months payslips
Tenants in receipt of benefits & in part-time employment: Proof of income must be 1.5x your rent (excluding benefits)
Once your application is complete, we’ll check all your details to make sure that you are who you say you are and, then, we’ll take your payment. On completion of our ID checks and successful payment, your rent guarantor service will be put in place.
To get a free quote for our rent guarantor service, click HERE.