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What is a guarantor?

I have been asked to be a guarantor, what are the risks?

Asked on Jul 12 2010, Renting in Neath | Report content

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  Arthur Ble...

  A guarantor is someone who guarantees that a tenant will pay the rent etc to a landlord. A guarantor is used where the tenant is not credit worthy so obviously the guarantor should be. The risk to the guarantor is that should the tenant default he will have to pay the rent/ service charge etc to the landlord.

  Answered on Jul 14 2010, Report content

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  garethb1

  Simply the liabilty for the rent if the tenant you are acting for defaults on the rental comittment

  Answered on Jul 15 2010, Report content

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