If a tenant is unable to meet the income requirements of a property or fails referencing, they can list a guarantor. This is someone who is not a tenant but agrees to pay the rent if the tenant/s are unable to.
Having a guarantor is common amongst renters and is certainly not a sign of a ‘bad’ tenant. A guarantor can be anyone the tenant knows – such as a friend or relative – who meets the income requirements of the property. They do not need to be a homeowner, but they must live in the UK and give their consent before giving their details.
Tenants can declare that they will need a guarantor during the viewing pre-screening and application process. This saves putting the tenant through referencing only for them to fail. If required, a landlord can request a guarantor from the Application review. Guarantors need to be referenced in the same way a tenant does.
Although the likelihood is low, some tenants may not know that they need a guarantor until after the referencing results come back. At this point, the landlord can request a guarantor from the Referencing results.
Related article: What happens if I don't have a guarantor?
The guarantor will sign a separate guarantor agreement between them and the landlord. It's a simple agreement, separate to the tenancy agreement, confirming that both parties agree to the guarantor terms.
Paying the rent
If there are multiple tenants at the property, all tenants are jointly and severally liable for the rent. This means that all tenants are ultimately responsible for ensuring all the rent is paid.
If a tenant is continuing not to pay their 'part' of the rent, the guarantor would ultimately be responsible for this, regardless of the tenant they are a guarantor for.