The use of a guarantor company has become common in recent rental contracts.
However, depending on the property, you may be required to have a guarantor. Many people wonder, "Why do I need a guarantor to join a guarantee company?"
Depends on the policy of the landlord or management company
Whether a guarantor is required depends on the conditions of each property.
Additional guarantors may be required depending on the landlord's wishes, the management company's screening criteria, the guarantee company's screening results, the tenant's attributes, etc.
In particular, students, the unemployed, those who have just changed jobs, those who are self-employed, and those with foreign nationality may be required to provide a guarantor as a supplement.
The roles of a guarantee company and a guarantor are different.
A guarantor company is a company that makes advance payments to landlords in the event of rent arrears.
On the other hand, the joint guarantor is responsible for payment just like the tenant himself. Just because you have a guarantor company doesn't necessarily mean you don't need a guarantor.
In some cases, both are required as part of the contract.
Check the required documents early
When appointing a joint guarantor, the guarantor's seal certificate, income proof, identification card, consent form, etc. may be required.
If you request a distant relative, it will take time to obtain the documents. Be sure to check the required documents before applying so that you don't panic after your application has been approved.
If you can't ask, please ask first.
Some people find it difficult to rely on relatives or are unable to provide a guarantor due to certain circumstances.
In that case, please consult with the person in charge from the beginning. You may be able to find properties that can be contracted with only a guarantor company, or properties that do not require a guarantor.
summary
Whether a guarantor is required depends on the property and the details of the screening.
Even if you use a guarantee company, you may be required to provide a guarantor. The process of signing a contract will be smoother if you check early on whether you have someone to ask and whether you can prepare the documents.