A Rent Guarantor is someone who agrees to pay your rent if you are unable to. Providing a guarantor for rent is common practice in the UK. The difficulty in providing a guarantor often comes from the requirements of a guarantor. A rent guarantor often has to:
Be between the age of 18-75
Be a UK homeowner
Be able to prove they earn 2.5x the monthly rent
Have a good credit history
A rent guarantor gives your future landlord the security that your rent will be paid on time and in full. A guarantor for rent will also be expected to cover other costs incurred as detailed in your Tenancy Agreement, including damages costing more than the deposit or Joint and Several liabilities.