If a guarantor is required in order to pass referencing then they would need an annual income/savings of more than 2.5 times yearly rent and have a good credit score. If the tenant fails to pay the rent then the guarantor becomes responsible to pay.
Tenancy Information in England 2019
Equivalent of one weeks rent is payable to secure a property. This will be refunded against the first months rent unless the tenant fails referencing due to misleading information or aborts the let. In which case, this will be retained.
Maximum amount capped at the equivalent of 5 weeks rent.
The tenant is liable for the cost of lost keys.
Rent Arrears Charges
These are set at 3% above the Bank of England base rate and are payable after the tenants fall into 14 days of arrears.
Change of Sharers And Amendments To Tenancy Agreements
£50 INC. VAT
Early Termination of Tenancy Agreement
A tenant will be held liable for rent up until their fixed term has ended. However at landlord’s discretion, you may be asked to only pay rent up until a new tenant has been found and has moved into the property.