Renting a property can be an expensive endeavour, and for many tenants, having a guarantor can be a reassuring way to secure a property and provide security for Landlords. Guarantors are individuals who agree to pay the rent and other costs associated with a property if the tenant is unable to do so. However, what happens when the rent increases? Are guarantors still liable for the additional costs? This article explores this question and provides insight into the responsibilities of guarantors when it comes to increased rent.

What Is a Guarantor?

A guarantor is someone who agrees to pay the rent and any other costs associated with a property if the tenant is unable to do so. Guarantors are often required by landlords, particularly when tenants are students, have a low income or are unemployed. The guarantor is usually a family member or a friend of the tenant and will need to pass a credit check before being accepted.

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What Happens When the Rent Increases?

Rent increases are a common occurrence, particularly in areas where there is high demand for rental properties. In most cases, when the rent increases, the tenant will be responsible for paying the additional costs. However, this can sometimes cause financial difficulties for the tenant, particularly if they are on a low income.

Are Guarantors Liable for the Increased Rent?

The answer to this question depends on the terms of the tenancy agreement. If the tenancy agreement includes a guarantor clause, then the guarantor will be responsible for paying the additional rent if the tenant is unable to do so. However, if the tenancy agreement does not include a guarantor clause, then the guarantor will not be liable for the increased rent.

What Is a Guarantor Clause?

A guarantor clause is a section of the tenancy agreement that outlines the responsibilities of the guarantor. This clause will usually state that the guarantor is responsible for paying the rent and any other costs associated with the property if the tenant is unable to do so. If the tenancy agreement includes a guarantor clause, then the guarantor will be liable for the increased rent if the tenant is unable to pay.

What Happens if the Guarantor Cannot Pay?

If the guarantor is unable to pay the rent or other costs associated with the property, then the landlord may take legal action against them. This could include taking the guarantor to court to recover the outstanding costs. If the guarantor is unable to pay, then they may be declared bankrupt or have their assets seized.

Conclusion

In conclusion, guarantors are individuals who agree to pay the rent and other costs associated with a property if the tenant is unable to do so. Whether or not a guarantor is liable for the increased rent will depend on the terms of the tenancy agreement. If the agreement includes a guarantor clause, then the guarantor will

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