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Student Housing Guide

Have a Tenant without UK Guarantor? Use Housing Hand

Posted by Richard Ward in

As a Letting Agent or Landlord, you will know all too well that asking a tenant to provide a Guarantor can prove time consuming and difficult, not to mention the frustration and knock-on effect of having to turn away tenants without a Guarantor.

The explosion of the international student market in recent times has posed many problems for Letting Agents, and the Housing Hand Guarantor service is the only efficient and secure alternative to asking tenants to pay 6-12 months' rent in advance. The award winning Housing Hand Guarantor service is the efficient solution to secure tenants' rents while allowing them to pay their rent in better instalment options. The service works for all tenants, UK and International who cannot provide a qualified UK based Guarantor. What's more, Housing Hand is fully integrated into StuRents' eTenancy platform.

Housing Hand are the first company to be covered by a Guarantor Liability Insurance Policy which is underwritten by A-rated insurance company AMTrust Europe Ltd. The purpose of the insurance is to provide peace of mind and financial security to third party Letting Agents/Landlords who let residential property, that there will, at all times, be funds available if the tenant goes into default.

How much does the service cost?

The service is completely free for letting agents and landlords and the cost starts from £275 for the tenant (and no greater than 5.5% of the total rent value being guaranteed if arranged through the StuRents tenancy platform). Applicants provide the required documents to be eligible and get Housing Hang to stand as their Guarantor. Housing Hand checks on all tenants, ensuring they are either employed or enrolled at university and have the required visa to work or study in the UK.

What happens if a tenant defaults?

If a tenant defaults on a rental payment, Housing Hand will pay the outstanding amount within 28 days upon receiving the default notification and invoice. Consequently, Housing Hand cover any rent arrears, damages/dilapidations and eviction costs occurring during the tenancy period.

The benefits of working with Housing Hand:

  • A 100% safe and secure Guarantor option with no extra cost for Letting Agents or Landlords;
  • Housing Hand cover any rent arrears, damages/dilapidations and eviction costs occurring during the tenancy period;
  • Housing Hand accept contracts with Joint and Several Liability;
  • Avoid the risk of using individual Guarantors who do not understand their legal liability;
  • No need to spend valuable time chasing Guarantors for unpaid rent;
  • Reduced administration, time and costs for sourcing and processing Guarantors;
  • Increase your occupancies;

For more information, please visit the Housing Hand website or call their offices on 02072052625.