Rent guarantor scheme

timeline

It is likely that you will need a reference in order to let a property. Most students have yet to build up a credit history to provide the kind of references that agents require. Some agents may settle for a letter from a previous landlord or employer, or a bank statement showing proof of funds and written proof that you are an enrolled student. If not, the agent or landlord may ask you if a parent will act as your guarantor (this person must be UK-based).

WHAT IS A GUARANTOR? 

A guarantor is someone willing to be responsible for payment of your rent or damage if you don’t pay it. Remember, you and your flatmates will all be liable as well as your guarantors. 

If you do not have a UK-based guarantor, the agent or the landlord could ask you to pay more rent in advance. It is common to pay between 3 and 6 months rent in advance when you don’t have a guarantor. We would advise not to pay more than 6 months.

What is the Rent Guarantor Scheme? 

A guarantor agrees to guarantee the payment of your rent to a landlord/agent in the event that you cannot. Many landlords require a UK-based guarantor, meaning that some international students who do not have access to a UK-based guarantor may encounter difficulties.

To support this, the College can act as a UK-based guarantor for Imperial undergraduate students who may require this service when securing rental of private accommodation up to the value of £250 per week, per person. Please read the Terms & Conditions of the scheme.

"WE HAVE ACTED AS GUARANTOR FOR OVER 600 STUDENTS SINCE 2017"

 

Key information

How does the scheme work?

  • The scheme is run by the Student Hub team
  • Students interested will be required to complete an online application form and upload the requested evidence online.
  • The Student Hub team will assess each application against eligibility criteria and inform you of a decision within 3 - 5 working days of submission
  • Successful applicants will be contacted by the Student Hub team and required to pay £60 administration fee (including VAT) before the start of any paperwork. Successful applicants will be required to sign a Student Reimbursement Agreement with the College and get their landlord to sign the College’s Landlord Rent Guarantor Agreement 
  • The guarantee will be restricted to 12 months provided that the tenant remains a registered and enrolled (at the same time) student at Imperial. If the contract is longer, the student needs to make an application to renew their rent guarantee agreement one month before the current guarantee expires (the Student Hub will contact the student and the landlord prior to the expiry; this is a courtesy email and it is their responsibility to check this and apply). Each renewal will be assessed individually; only renewals that continue to meet the eligibility criteria will be approved. For the avoidance of doubt, the guarantee will not include any authority for the tenant to extend or amend it without Imperial’s prior written consent.

Am I eligible?

Students who meet the following criteria are eligible to apply: 

  • You have been requested to provide a UK-based guarantor by a landlord
  • You are a full time registered undergraduate student (not going into first year) at Imperial and are full time registered throughout the term of your tenancy/licence agreement
  • You cannot find an alternative UK-based guarantor. This Scheme should be used as a last resort and only if you have exhausted all other options to find a suitable UK-based guarantor
  • You have no outstanding academic or non-academic debts to the College
  • You can provide a satisfactory reference from a previous landlord or private hall of residence. References from College accommodation will be sought directly by the Student Hub
  • You can show you have the funding to pay your rent
  • You haven’t already signed a tenancy/licence/renewal agreement with a landlord (this doesn't apply if your current contract is longer than 12 months and you are renewing your rent guarantee for the next 12-month period)

Applications are not open to Postgraduate Students. We recommend that PG students looking for a rent guarantor use alternative services such as Housing Hand (details of which can be found at Imperial Home Solutions)

You must also show that the property you wish to rent meets the following criteria: 

  • The tenancy/licence agreement must be checked by and meet the standards of the Student Hub
  • The landlord must be able to provide a current gas safety certificate for the property if applicable
  • Your proportion of the rent on the property doesn’t exceed £250 a week. For joint or shared tenancies, the College will act as guarantor for each named student’s share of the rent up to a maximum of £250 a week each 

How to apply - first time applications or applications for a new property

  1. Please download and complete the Landlord Information Form below:

     Rent Guarantor Scheme landlord information form (MS Word)

  2. Please have the following documents ready (in PDF or MS Word format):

  • A COPY of the relevant unsigned assured shorthold tenancy agreement or licence agreement
  • A reference from a previous landlord or private hall of residence. References from College accommodation will be sought directly by the Student Hub
  • Evidence of financial means to pay the rent for the property – see below

 You must provide upload at least one of the documents below. You may upload more than one if your funding comes from several sources.

  • SponsoredStudents; Evidence of your maintenance funding arrangements for the academic year orproof of funding from an external sponsor which covers the total amount of your rent.
  • Students funded by family members/guardians; a family member’s bank statements for the last 3 months showing they have sufficient funds.
  • Self-FundedStudents; a copy of your bank statements for the last 3 months showing sufficient fund

 3.  Once you have all documents above ready, please click the link below to apply: 

      Rent Guarantee Online Application Form

 

How to apply – If you are applying to renew your rent guarantee for the same property

Please read carefully the 2 renewal options below and provide the relevant documents for the one that applies to you. 

A) Your current tenancy is coming to an end and you are renewing it for another fixed term period; therefore, you would like to renew your rent guarantee agreement.

1. Please have the following documents ready (in PDF or MS Word format):

  • Confirmation from your Agent/Landlord that your current Tenancy has been renewed and a draft copy of the renewal agreement
  • Copy of the previous signed tenancy for the property
  • Reference from your current landlord
  • Evidence of financial means to pay the rent for the property – see below

B) Your current contract is longer than 12 months and you would like to renew your rent guarantee for the next 12-month period (we will send you a new agreement that guarantees you for the next 12 month period of your contract).

1. Please have the following documents ready (in PDF or MS Word format)

  • Reference from your current landlord  (which states that you are currently residing in the property)
  • Copy of the current signed Tenancy Agreement
  • Evidence of financial means to pay the rent for the property – see below

 For both renewal options you must also upload at least one of the documents below. You may upload more than one if your funding comes from several sources.

  • Sponsored Students; Evidence of your maintenance funding arrangements for the academic year orproof of funding from an external sponsor which covers the total amount of your rent.
  • Students funded by family members/guardians; a family member’s bank statements for the last 3 months showing they have sufficient funds.
  • Self-Funded Students; a copy of your bank statements for the last 3 months showing sufficient fund

 2.  Once you have all documents above ready, please click the link below to apply: 

      Rent Guarantee Online Application Form