It's important to understand the responsibilities involved in the rental process. This article aims to clarify the process of referencing and contract signing for guarantors, addressing common concerns and helping to demystify the role of a guarantor in an Assured Shorthold Tenancy (AST) agreement.
Referencing Process for Guarantors:
Purpose: The referencing process helps us to ensure that the guarantor has the financial stability to cover the rent if the tenant is unable to do so.
Procedure: Just like tenants, guarantors will undergo a referencing process, which will include a credit check, income verification and proof of address.
Transparency: We ensure a clear and open communication throughout the referencing process, making sure guarantors understand why each step is necessary.
Contract Signing:
Understanding the AST: The AST outlines the rights and responsibilities of all parties involved. It's crucial that guarantors fully comprehend the extent of their responsibilities under this agreement.
Liability: Guarantors might be concerned about being liable for other tenants’ obligations. It's essential to clarify that a guarantor's responsibility primarily extends to the tenant they are guaranteeing, although they may have some liability for joint obligations under the AST.
Support: Property Genius is committed to ensuring that guarantors feel comfortable and informed before signing any documents. We're here to answer any questions and provide support throughout the process.
Building Trust:
Open Dialogue: Encouraging an open dialogue between tenants, guarantors, and our agency can help alleviate concerns and build trust.
Education: By providing clear, straightforward information, we help guarantors understand their role and responsibilities, promoting a positive rental experience for all parties involved.
Accessibility: Our knowledgeable staff is always on hand to provide assistance, ensuring a seamless process from start to finish.
Understanding the guarantor’s role in the AST is fundamental for a stress-free tenancy. At Property Genius, we are dedicated to providing the necessary support and information to make the rental journey as straightforward as possible for both tenants and guarantors. Our door is always open for any queries, and we are here to ensure a positive rental experience.