Why is a guarantor needed for student housing?
The need for a guarantor often arises when a student is unable to pay the entire rent for their student accommodation for the year in advance. By having a guarantor, students have the flexibility to pay their rent in instalments. This not only offers greater financial breathing space but also assures the property management groups that the rent will be paid, even if the student fails to do so. In such cases, the guarantor is called upon to meet the rental commitments.
Note: Please refer to this article to learn how a guarantor is different from a co-signer.
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