A Rent Guarantor is someone who agrees to pay your rent if you are unable to and is required by your accommodation provider to pay rent arrears if you default on any of your payments.
Providing a guarantor for rent is common practice when renting a room or property in Ireland. The difficulty in providing a guarantor often comes from the requirements of a guarantor. A rent guarantor often has to:
• Be between the ages of 18-75
• Be an Irish 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 rent guarantor 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. Housing Hand can act as your rent guarantor. Find out if you are eligible by applying with us online.