The cost of living crisis combined with a logjam in the courts means landlords are now “very unlikely” to rent properties without guarantors being in place, according to an outspoken industry figure.
Jonathan Rolande of the National Association of Property Buyers says the rental market currently remains “so hot” that any tenant not willing to provide one has “virtually no chance” of getting the keys to a property.
He comments: “Even a few years ago a tenant unable to provide a guarantor had a pretty good chance of finding a landlord who’d rent them a place. Now there’s virtually no chance and the rental market is still so hot that tenants who don’t have one can be overlooked.