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All tenants are jointly liable on a tenancy where there are multiple tenants so charges are not allocated individually to each tenant. Instead, charges are submitted as a whole against all tenants. This means you as a guarantor with multiple tenants will be responsible for all end of tenancy charges and not just a portion of them.

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A guarantor is required when a tenant wants to rent but cannot meet eligibility criteria. As a guarantor, you have chosen to support the tenant when required and as this is legally binding, you should only be a guarantor for a tenant you trust.

You will be required to pass eligibility checks and it is important to note that if the tenant falls in arrears, or has any outstanding charges at the end of tenancy, you will be required to assist them and ensure these charges are settled.

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You will receive a welcome email informing you that you are a named guarantor on the tenancy agreement. After that, there is nothing expected from you until at the end of tenancy. If the tenant has been found owing for cleaning, rent arrears, damages and so on, you will be notified.

The tenant will then be given the option to agree and accept charges or dispute them. As the guarantor, you will be expected to assist the tenant in responding to the charges through the tenant’s No Deposit account. Depending on whether the tenant accepts the charges, or is found liable post-dispute, you will be equally responsible to settle the charges.

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If there are multiple tenants, any fee or charges will be split amongst them. For instance, if there are two tenants and the rent is £500, the No Deposit Option fee (which is non-refundable) will be £115 split between the two of them, so each will be required to pay £57.69. All tenants will also be liable for all end-of-tenancy charges. These charges are not allocated individually to each tenant, but are submitted as a whole against all tenants on the contract. Splitting levied charges is entirely up to tenants as they deem fit or as appropriate as long as the whole payment is made.

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As a tenant, you still have the responsibility of looking after the property and communicating with your landlord or letting agent regarding any issues that may arise. At the end of your tenancy, you must leave the property as outlined in your tenancy agreement and cover any cost or charges that you have incurred. These could include:

• Unpaid rent
• Cleaning costs especially if the property has not been cleaned as outlined in the check-in inventory
• Damage of the property or to furniture within the property (if you rented it furnished)
• Re-let fees where applicable

By looking after the property, you can avoid or reduce the amount of claims against you at the end of your tenancy.

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Initial Cost: Your initial cost will be equal to one week’s rent and can be spilt amongst tenants if more than one is involved in the tenancy. It must be paid prior to moving in as it is used as service fee by the company managing the scheme. This is the main reason it is not refundable at the end of tenancy and cannot be used to set off any charges after tenancy.

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Annual Fee: You will have to pay an annual fee of about £30 every 12 months you remain in the property. This fee can be shared amongst tenants if they are more than one. If you are on a 6 months rolling contract and your tenancy gets extended for a further 6 months, the annual charge will be due and it will continue to apply every year you remain in the property.

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Dispute Fee: If there is a dispute at the end of your tenancy, it will be referred to a third party adjudicator and a fee of £60 will be required. If the result is entirely in favour of your landlord, you will not be refunded the £60 dispute fee and you will be required to pay the end of tenancy charges in full. However, if the ADR result finds you to be owing lesser than what your landlord has submitted, the £60 fee will be deducted from the final charge due. So for example, if the original charge submitted by your landlord is £300 and the ADR result rules that you owe £200, you will only have to pay the remaining balance of £140.

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If the ADR result rules you owe less than £60, the charge will be partially or fully refunded to you on the same date the result is issued. For example, the result rules you owe £30, that means you will get a £30 refund.

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Before the start of your tenancy, the No Deposit Option fee is refundable if you decide to pull out of tenancy before it starts. Once your tenancy starts, the 1 week’s rent paid as a fee is non-refundable, and cannot be set off against costs at the end of tenancy because it actually works out as service charge.

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The No Deposit Option frees money upfront that would otherwise be paid into a deposit protection scheme, thereby making renting more affordable for you as a tenant. You will be able to use the cash that would normally be tied up in a deposit to spend on other things. You will only have to pay one week’s rent plus an annual fee.

The goal of a No Deposit option is to reduce the upfront costs of moving home, and allow you to keep your money to use it however you wish rather than it being locked in someone else’s bank.

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Once your landlord offers to forgo the need to submit or pay a security deposit, companies such as Zero Deposit, Reposit or Flatfair will be used to sign up for the No Deposit Option or Reduced Deposit Option. The company will act as an insurer, guaranteeing payment for damages to the property. If any damages occur, you, the tenant is responsible for reimbursing the landlord.

In most cases, the no deposit platforms successfully recover money owed from tenants. Otherwise, insurance companies will cover the charge. It is important to mention that the non-refundable no deposit charge initially paid cannot be offset against costs at the end of tenancy. Again, just like with a normal deposit, you will remain liable for any amount due at the end of tenancy which may include cleaning fees, costs for repairs and outstanding rents.

If you don’t pay the charges at the end of tenancy, the no deposit platform such as Reposit will pursue necessary legal action to recover the outstanding debt even after the charge has already been paid to the landlord by the insurance company. Remember though, you will still have the choice to use the no deposit option or the normal cash deposit at the start of your tenancy. Read more.

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A No Deposit Option or Reduced Deposit refers to a rental agreement where a tenant is not required to pay a security deposit to the landlord before moving in. Instead, the tenant pays a small, non-refundable fee that is no more than a week’s rent, which in turn works out as a ‘reduced deposit’. It’s a good option for those with financial difficulty, especially if it’s impossible to shell out a 5 weeks deposit, as well as the rent. It’s particularly beneficial for individuals who are new to the rental market, have a poor credit history or tenants who move frequently, as it eliminates the need to constantly save up for new security deposits (while the one previously paid is tied up!). It’s also a good option for students and people on low income. Read more

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We don’t charge any admin fees, ever. If a particular property is highly sought after we may ask for a £50 holding fee but this is then taken off your first month’s rent. The only other payment is the deposit. If you’ve opted for the standard terms, this equates to one month’s rent.

If you’re living in one of our traditional lets, you can change suppliers at any time. If you’re in an Flat Share apartment there’s no need as we cover all bills and arrange all utilities/internet suppliers for you.