I have acted as a guarantor through your company before, why am I having to complete the paperwork again? | Coapt Landlords & sales

I have acted as a guarantor through your company before, why am I having to complete the paperwork again?

Unfortunately we cannot use the same documentation again as this is a new tenancy agreement. We do this because we need to verify that your circumstances have not changed.

Who’s rent am I guaranteeing?

Each tenant has their own guarantor who is responsible for their share of the rent. We will always pursue the individual tenant’s guarantor if the tenant defaults on rent. This is however a joint and severally liable contract, so each guarantor is guaranteeing the rent for the whole tenancy.

Why do you need so much personal information?

We understand this may feel invasive, but for the protection of all involved, we need to see proof of earnings and identification so we know you meet the requirements to act as a guarantor. This isn’t only to protect the landlord, but also the tenants and you as a guarantor. Every tenant’s guarantor needs to meet the same criteria so we know that they can cover the tenants rent in the event that they default. All of your information is stored securely, in line with GDPR.

How much do I need to earn?

The guarantor’s required earnings are four times the tenants share of the monthly rent after tax e.g. if the tenants share of the rent is £600pcm the guarantor will need to provide proof of net earnings of £2,400pcm.

I don’t meet the required earnings to be a guarantor, is there any way around this?

Firstly, we would ask if you have any proof of savings to ‘top up’ your income. We do ask that guarantors meet this threshold to ensure all parties are protected. If you don’t meet the requirements there are alternatives available to tenants, please speak to our Admin team on 01273 645 797 for more information about this.

I don’t have access to a scanner, is there any way around this?

Yes. We can accept a photo of any documents as long as the information is legible, this can be uploaded directly from your phone’s camera roll to our online signing platform.

Can I submit my paperwork via post rather than online.

We pride ourselves in being a paperless office, we have invested in software to ensure we are efficient and our paperwork is stored in line with GDPR so we are unable to accept printed documents via post. Our tenancy platform is compatible with smartphones, laptops, tablets & PCs (tip: the best browser for our website is Google Chrome).

I have filled in the required details and uploaded the documents but am unable to sign the agreement?

Don’t worry, you are almost there! Once you have uploaded photo ID, proof of homeownership, proof of earnings and ticked that you agree to ‘StuRents’ Privacy policy, Terms and conditions and Acceptable use policy.’ you will need to click on ‘Save and continue’. This will allow you to scroll to the bottom of the contract and sign the agreement digitally.

Will I receive a copy of the contract?

Of course! Once the guarantor agreement has been counter signed by ourselves you will receive a copy via email.

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