It shouldn’t come as a surprise that your landlord is running a business. They’re letting out their property to make money, and like any business they want a reliable source of income. A big part of this is guarantors and rent guarantee, which can prove a significant hurdle for tenants. In this article we’ll talk about how rent guarantee works, and how Ezylet’s innovative Rent Guarantor Service can help you to avoid guarantee problems.
Having a poor credit history can have a serious impact – especially for people wanting to rent a property – and top of the list of things you don’t want on your credit history is a CCJ. But what are they, and what can you do about it if you’ve got one?
Winning a place at a UK university is a fantastic achievement and one you should be proud of. But, with university halls often filling up quickly, many students need to look at the private student rental sector for their accommodation.
There is good reason to try and get your tenants to appoint a Rent Guarantor.
And that is to make sure you get paid your rent, even if the tenant defaults and wont/cannot pay. It’s a way of guaranteeing your rental income, and that’s good news.
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.
Whenever a tenant moves into a property, one of the biggest issues is coming up with the deposit. Landlords require a deposit to cover any damage caused by the tenant or to cover unpaid rent. With a deposit, the landlord gets some security, and the tenant usually takes care of the property because they want their deposit back.
The festive season is an exciting time especially if you’re looking forward to moving home in the New Year. However, alongside a fresh start, there are often some hurdles that the Christmas holidays bring that could affect your moving date.
Flexible Friends - What you need to know before agreeing to be a property guarantor
One of the trickiest aspects of moving into a new property can be finding someone to guarantee your rent, and this can be problematic for both Tenants and Landlords.
The UK's property market remained strong throughout spring of this year. In March, sales hit the highest monthly level since records began 16 years ago, then in April the Rightmove House Price Index reported the highest ever monthly price jump of 2.1% – beating last October's record spike by more than £4,000.
In order to begin a new tenancy, you’ll need to give your landlord plenty of information about yourself. This can vary from one landlord to the next; some agencies will only require a few basic details, while others may need to conduct a more detailed background check. Regardless, they will all need to know at least some of this information, so make sure you’re ready to provide it.
Your tenant has stopped paying rent and you don’t know what to do. It’s the nightmare scenario for any landlord. But don’t worry, your tenant has provided a guarantor – they will pay the rent instead.
Historically, letting to students was seen as pretty much the bottom end of the buy-to-let market. Students were viewed as party lovers, who would treat the property like a dump; landlords of student properties were widely criticised for providing dated, often unsafe housing that lowered the tone of a neighbourhood. But that’s rarely the case in today’s market.
As a landlord, aside from buying the right investment property, the next most important detail is to find and secure the right tenant to rent that property. Many landlords employ an estate or lettings agent to handle viewings, complete referencing checks and issue the contract.
If you want to rent a property, there are a lot of things you will need, including a deposit. But one of the most important requirements is a guarantor.
One of the biggest issues for you as a landlord is likely to be whether your tenants pay the rent on time, or indeed, if they pay at all. There are ways to solve this problem, a common one being to demand 6-12 months’ rent in advance.
This isolates those who cannot afford to pay such a large lump sum, however, and subsequently limits your market. So what else can you do to ensure you receive your rent on time, and help your business thrive?