Julian Bradley wrote:
> Our eldest will soon finish 6 yrs at uni.
> Our youngest is half way through his first year. Never happened
> before but his private rented accommodation for next year want each
> parent to act as guarantor for an unlimited amount for all four
> students under joint and several liability.
>
> We've never met his proposed housemates or their families.
>
> Do you all find this kind of thing common, how do you feel about it?
>
> Julian
We're in the position at present as landlords of threatening CC action
against our tenants - 3 students, all of whom have defaulted on rent.
AFAIR the lease we use specifies that the students are responsible for each
other's debts incurred against the property while parents/guardians must act
as guarantor for them. I don't remember a clause about joint and several
liability.
Due to general hassle, time constraints, and being novices at this game, we
use a management company.
Their initial response to the defaulted rent was casual, to say the least,
but to be fair, when the boss found out he was straight round to the house
to give them a good tongue lashing and to explain that we had specified that
we wouldn't hesitate to use legal action if we had to.
It's taken a couple of months, and isn't fully resolved, but I'm now very
impressed by the management company's attitude to this matter - confident it
would be resolved, pestered the students and parents until money was
forthcoming, and now I think we're just one student's monthly rent down -
and all without recourse to a solicitor.
Last academic year we had no rental problems, but at the end of the tenancy
I found a letter in the property addressed to me from a debt recovery
company warning that if I didn't respond within 14 days to their letter with
regard to my outstanding utility bill (what bill??), they'd send the
bailiffs round. Turned out the students had defaulted on the gas bill around
the Xmas period.
Management company immediately took over the matter, liaised with the
utility company and the debt management people, and made it all blow away.
So, not a totally stress-free endeavour, but could be worse, and it's
profitable.
--
Brian
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