Find out everything you need to know about guarantor requirements at Student Housing Co. Who qualifies, income and savings thresholds, accepted documents, and company guarantor options.

Do you need a guarantor? Here's everything you need to know

Whether you're a student or a working professional, all tenants at Student Housing Co. are required to provide a guarantor before moving in. A guarantor is someone who agrees to cover your rent if you're ever unable to pay. It's a standard requirement across the private rented sector and nothing to be concerned about if you plan ahead.

This guide covers who can act as a guarantor, what the financial criteria are, how income and savings are assessed, what documents are needed, and what to do if you don't have anyone who meets the criteria.

Who needs a guarantor?

All tenants require a guarantor. This applies to students and working professionals alike, with no exceptions.

Who can act as a guarantor?

A guarantor can be a parent, family member, or any individual who meets the criteria below. They do not need to be in full-time employment. Retired individuals and those living on pension income, dividends, or other non-employment income can all qualify, providing their income reaches the required threshold.

Your guarantor must either live in the UK or hold the legal right to live in the UK. We are unable to accept guarantors based overseas.

What are the financial criteria?

A guarantor must meet one of the following two criteria. All income and savings figures are assessed on a gross basis, before income tax and national insurance deductions.

Income route

The guarantor must earn at least 3.5 times the annual rent. This applies to all income types, including salary, pension income, dividends, and other regular earnings.

Savings route

Alternatively, the guarantor must hold at least 5 times the annual rent in savings. Those funds must have been present in their account for a minimum of three consecutive months, evidenced by bank statements.

How is annual rent calculated?

Annual rent is your weekly rent multiplied by 52. Here's how the thresholds work in practice:

Example: one tenant at £100 per week

Annual rent = £5,200
Minimum guarantor income = £5,200 x 3.5 = £18,200
Minimum guarantor savings = £5,200 x 5 = £26,000 (held for 3+ months)

Example: one guarantor covering two tenants at £100 per week each

Combined annual rent = £10,400
Minimum guarantor income = £10,400 x 3.5 = £36,400
Minimum guarantor savings = £10,400 x 5 = £52,000 (held for 3+ months)

One person can guarantee more than one tenant, but the income and savings thresholds apply to the combined rent of all tenants they are covering. Make sure your guarantor is aware of this before they agree.

What documents will my guarantor need to provide?

Your guarantor will be asked to supply documentation to verify their income or savings. We accept the following:

Bank statements

The most recent three months of bank statements. For the savings route, these must clearly show the required funds have been held continuously for at least three months.

SA302 tax returns

Issued by HMRC, an SA302 confirms a self-employed or self-assessed individual's gross income for the tax year.

Dividend statements

Shareholders receiving dividend income should provide formal dividend vouchers or statements confirming the amounts received.

Payslips

Recent, dated payslips showing gross monthly or weekly earnings.

What if I don't have a personal guarantor?

We understand that not everyone has access to a family member or contact who meets the criteria, particularly for international students or those whose families are based abroad. In these cases, we accept company guarantors: professional services that act as a guarantor on your behalf in exchange for a fee paid by you as the tenant.

We currently accept applications from the following approved providers:

Housing Hand

Housing Hand is one of the UK's most widely used guarantor services, supporting students and working professionals. They assess your application directly and, if approved, act as your guarantor for the duration of your tenancy.

Rent Guarantor

Rent Guarantor offers a straightforward service for tenants who don't have a suitable personal guarantor. Their application process is designed to be quick, so it doesn't delay your move-in.

If you're planning to use a company guarantor, apply to them as early as possible in the process. Approvals can take a few days and you'll need this in place before your tenancy can be confirmed.

Further information

For full details on what your guarantor is agreeing to, including the legal terms of the agreement, visit our parent and guarantor information page or read the deed of guarantee in full.

You can also find answers to the most common guarantor questions on our guarantor FAQ page.