Nintendo Switch review: Hands-on with the intuitive modular console and its disappointing games…
I want to re-open this topic I started a while back link description here
My eldest son is the guarantor, for the rented property and what I have found out is its 6 months of none payment for the property, which my son now knows about from me.
When he signed up as guarantor he thought it was for the first 6 months.
Thats correct as its a 6 month minimum let, however looking into the agreement should the tenant stay longer then the guarantor is liable for as long as that tenant stays on.
I have been told there has been no contact by the Landlord, or Letting agent to the tenant.
The un paid rent is well over £3K.
How long can an agent or land lord let unpaid rent run and expect the guarantor to pay without been notified?
I think this is a subject that direct legal advice would be necessary, because contract law can be very complicated.
Recently there as been quite a few articles and news reports about letting agents, and how some of them conduct their business. All letting agents will be required to register by law http://www.standard.co.uk/news/london/ripoff-letting-agents-face-ban-under-new-law-8575008.html
As a guarantor I would expect notification of non-payment a couple of weeks after the rent was not paid. It should be in the terms of the lease. I suggest he contacts the tenant pronto by recorded letter and ask him to arrange to pay the arrears off, copy the letter to the agent and the landlord with a stroppy note asking why he wasn't told.
He will need to re-read the agreement several times to make sense of it and it may be worth running it past a solicitor if he is not sure of the meaning of any terms used.
The wording of the Guarantor Agreement is critical as far as your son is concerned. He has entered into a legal contract and it will be strictly enforced by the courts according to how it is worded - there is no standard form or statutory Guarantor Agreement.
If your son signed an agreement stating that the guarantor indemnifies the landlord against losses due to the tenant's default or failure to observe the agreement terms, then the landlord is obliged to minimise his or her losses. That would normally mean making strenuous efforts to recover outstanding money, and notifying the guarantor that there's a problem.
If, on the other hand the agreement states that the guarantor is a primary obligator your son must pay all outstanding amounts, up to the time the tenant leaves the property.
In an extreme case your son could sue the tenant for damages and apply to take over the tenancy, enabling him to negotiate an end to the lease.
Becoming a guarantor brings with it some serious responsibilities - it's not something to be entered into lightly. Your son needs urgent legal advice.
This thread is now locked and can not be replied to.