Landlords are increasingly looking to secure a guarantor for peace of mind, in case the tenant cannot pay the rent, Goodlord’s state of the lettings industry report.
Three in five (60%) said they would ask for a guarantor if the tenant was on a salary that could affect the affordability of a property.
Meanwhile a huge 16% of landlords said they now required a tenant to provide a guarantor, regardless of salary.
A quarter (33%) of tenants said they have been asked to provide a guarantor in their most recent tenancy agreement.
The research also polled tenants regarding their hopes of buying in future.
Only 19% of tenants said they were likely to buy a property in the next 12 months, but more would if they could.
Indeed, 63% of tenants said they wanted to get on the housing ladder, but couldn’t afford the deposit.
