Published on: 1 September 2021
Join us?Get started
Who can become my guarantor for my rental?
When you are looking for an apartment or studio rental, a shared apartment or a private room in an accommodation, you increase the chances of a successful search by having a guarantor. Failing to be legally binding in France, guarantors are essential in the rental world. The owner of the accommodation (the lessor) you are looking for, or even the real estate agency if applicable, will require guarantees to cover any possible unpaid bills. This guarantor can be someone you know, but also an organization such as Studapart.
What is a guarantor?
The rental guarantor is the person, natural or legal, who undertakes to pay the rent and rental charges if the tenant should ever be in default of payment. This role is usually performed by one or more people related to the tenant, often parents or family, but you can also find a guarantor among friends, or even a third person. You can also turn to a legal person, for example a bank or a real estate organization, which can act as guarantor for a rental. In short, the guarantors have a key role in securing a home.
Do not confuse guarantor and deposit
The term rental deposit is also used to designate the guarantor, which is somewhat inaccurate. The deposit refers in fact to all the guarantees that the guarantor provides, mainly his commitment and his good financial health. The term deposit is also wrongly used to designate the security deposit, that is to say the sum that is given to the lessor at the start of the rental (generally one or two times the amount of the monthly rent) and which will be returned all or part at the end of the rental depending on the inventory. The term surety should therefore be used with caution. It is not synonymous with guarantors.
Is the guarantor Mandatory? No, but essential
A guarantor is not required in the context of renting an apartment or a house. If the lessor considers that his future tenant is able to pay the amount of the rent on each due date, he has no reason to ask for it. He can also have recourse to an insurance which will take care of the unpaid rents. Renting without guarantors remains quite rare, however, especially if the tenant has no own resources. The owner prefers to anticipate the possible defaults of his tenant.
Who can vouch as guarantor for an apartment rental?
The guarantor of an apartment is chosen by the tenant. This can be a physical guarantor: a relative, a friend or a third party. It can also be a legal person, a bank or an organization. The guarantor must provide the owner, through the tenant, with an act of surety where he agrees to pay charges and rents in the event of default by the tenant. The two parties (the lessor and the guarantor) can also agree to a surety contract, which specifies the framework of the guarantees. The guarantor must also demonstrate his financial capacity. It is often pay slips that are requested, or at least proof of income. Generally, one expects a monthly income greater than or equal to three times the amount of the rent.
The guarantor enters into a contract for a guaranteed amount and a bond period, two elements which can be unlimited or capped at a defined number. The guaranteed amount is the maximum amount that he agrees to repay if necessary. The guarantee period allows the guarantor not to be forever in a situation of accountability and to be able to withdraw on a fixed date. This period generally corresponds to the first lease and it can be renewed with each new lease. Conversely, if no bond period has been set, the apartment or house guarantor is implicitly committed until the tenant leaves the accommodation.
What is the difference between simple deposit and joint deposit?
There are two types of deposit, the so-called simple deposit and the joint deposit.
- The simple deposit indicates that the owner of the accommodation must first contact the tenant to request payment of the rent and any charges. If the tenant is unable to pay the rent, the lessor will initiate proceedings against the tenant. He sends him by registered mail, with acknowledgment of receipt, an order to pay. This document is drawn up by a bailiff and a copy is given to the guarantor. If the procedure fails (the tenant does not pay his rental debt), the lessor turns to the guarantor, in the same way: a registered letter with acknowledgment of receipt in which he explains that the procedure towards the tenant has not been completed. term and that, according to his commitment, it is up to the guarantor to pay the rent.
- In the case of a joint deposit, the lessor addresses the guarantor directly, from the first late payment, without going through the tenant. It does not even arise the question of whether the tenant is solvent or not. It is up to the guarantor, then, to take the necessary steps with the tenant.
The joint surety naturally gives the owner many more guarantees. In the event of default, there is only one point of contact and the procedure has only one step. The tenant and the guarantor will prefer the so-called simple deposit, which requires the lessor to address the tenant first. The guarantor can thus refuse to pay the rent until it has first been explicitly claimed from the tenant. This is legally called the benefit of discussion.
What to do when you don't have a guarantor?
Not everyone is lucky enough to have a potential guarantee for renting an apartment or a house, especially in times of crisis. And when a guarantor can be found, it may not fully match the lessor's requirements, in terms of income or reliability. This is often the case when the proposed guarantor resides outside France: this kind of situation requires a lot of administrative work, which often puts off the owner.
If you have not found a physical guarantor, you should turn to financial or real estate organizations that may be guarantors in place of the guarantor. There are many that you will find on the internet, including Studapart, which offers a solution perfectly suited to this kind of situation.
Do you know the Studapart guarantee?
The Studapart Guarantee is a guarantee implemented in partnership with the Allianz insurance group. It is aimed at property owners (or even real estate agencies) whose tenant has not found a reliable guarantor (or who has no guarantors at all). This Studapart Guarantee covers at each lease the unpaid rent and unpaid charges, but also any deterioration of the tenant's liability. In addition, the warranty offers to cover the costs of legal remedies when needed.
How to benefit from the Studapart guarantee?
If you are a tenant and you are looking on Studapart for your future rental accommodation (apartment, studio, shared apartment, room with the inhabitant, etc.), you must activate the "Guaranteed Profile" on the site. This will allow you to benefit from a tailor-made guarantor, and therefore optimize your chances of success in your search. You will find all the information you need for your research on the Studapart site as well as the procedures to be carried out… and how these are simplified with Studapart.