One common requirement many students encounter when applying for accommodation is the need for a guarantor. But what exactly is a student guarantor and do student digs accept them? In this guide, we’ll explore the concept of student guarantors, the guarantor requirements and everything you need to know to secure student accommodation in the UK.
What Is a Guarantor for Student Accommodation?
A guarantor is someone who agrees to take responsibility for a student’s rent payments if the student is unable to pay. This person typically acts as a financial backup for the landlord and becomes legally responsible if the tenant cannot pay rent. Both UK and international students will need a guarantor. In the UK, student houses and private landlords often require a guarantor as a safety measure to avoid the risk of missed payments.
Do Student Digs Accept Guarantors?
Yes, we accept guarantors for student housing at Student Digs. We understand that many students are financially dependent on parental support or are just beginning their careers. A guarantor ensures rent payments are secure, offering peace of mind to landlords. It also provides students, especially those without a strong income or rental history, a better chance of securing accommodation. With a guarantor, you have access to more student housing options, which you might otherwise be ineligible for without one.
Who Can Be a Guarantor for Student Accommodation in the UK?
A student guarantor is typically a family member, often a parent or guardian. However, some landlords may accept other individuals. That’s if they meet the necessary financial criteria and can demonstrate the ability to cover rent if needed.
An eligible guarantor for student housing usually includes:
- Parents or legal guardians
- Close relatives such as siblings or grandparents
- In certain circumstances, family friends or others with sufficient financial resources may also be accepted by some landlords.
What Are the Student Guarantor Requirements?
When securing accommodation, students are often required to provide a guarantor. But what are the specific guarantor requirements that need to be met?
Here are the most common student guarantor requirements:
- Financial Stability: The guarantor must have a stable income, usually from employment or a pension. The income should be high enough to cover the rent if the student is unable to pay (normally based off of the UK national minimum wage).
- UK Resident: Student Digs are happy to sign with guarantors based in the UK so long as they are homeowners or have the correct earnings.
- Good Credit History: A guarantor with a strong credit history is preferred, as it signals financial responsibility.
- Proof of Identity and Address: Just like the student, the guarantor will need to provide documentation to verify their identity and address.
Student Digs: Accommodation in Leicester, Nottingham and More
At Student Digs, we accept guarantors for all of our student properties, making it easier for students to secure a home without financial worry. If you are looking for student accommodation, check out our modern student properties in Leicester, Nottingham, Chester and Sheffield. We offer a range of affordable options for students. Contact us today to find out more about our properties or to ask about guarantor requirements. Let us help you find the perfect student accommodation.
