What is a Rent Guarantor?
A rent guarantor is someone, an individual or an institution, that agrees to pay the rent on behalf of a tenant who defaults on their rental payments. In the UK, most accommodation providers will ask students to provide a UK rent guarantor to protect them in the event of non-payment. Where students cannot provide a guarantor, they will, in the main, be asked to pay most, if not all, of their rent in advance. The National Union of Students, at both national and local levels, is lobbying UK universities to introduce rent guarantor schemes for their students.
Our Partner Universities
BESPOKE INSURANCE TAILORED FOR UNIVERSITIES AND PBSA
WHATWe specialise in the UK higher education accommodation sector, with students at the heart of everything we do. Our bespoke products are designed for universities and private halls providers. Driven by innovation, we provide unique and market leading solutions, and we are the first company in the UK to deliver the services we offer.
HOWIn considering our clients’ needs, we go way beyond simply providing insurance. We combine underwriting with technology solutions that enable institutions to deliver guarantor and rent protection services to students without the usual associated risks or costs.
WHOOur underwriters write on behalf of Great Lakes Reinsurance (UK) SE. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority, Great Lakes enjoy a financial credit rating of AA- (Very strong) by S&P and A+ (Superior) by A.M. Best.
University Rent Guarantor Scheme
A full service facility providing financial reassurance for universities who wish to act as a UK rent guarantor for their students*. In the event a student defaults on their rental payments, our insurance products protect the university that is acting as a guarantor. Our web based platform, the YG Gateway, manages the administration of the scheme end to end. Applications, verification, document issuance and account management are all handled through the platform. The YG Gateway is free to use for our partners and the cost of the insurance policy can usually be offset by the fees paid by students requiring the guarantor service. *iContact Us
Private halls providers (PBSA)
In what is a very competitive market, private sector operators are ever reviewing their offer to keep pace with student needs. Our solutions provide an opportunity to deliver added value and differentiate themselves from their peers.Contact Us
University owned/managed halls
We can provide bespoke rent guarantee insurance solutions to UK universities that own or manage halls.
Please contact us for more information.Contact Us
improved access to accommodation
- Ability to pay by instalments
- Improved access to accommodation
- Financial security
deliver against student demand
- Deliver against student demand
- Enhance the student experience
- Enhance the university reputation
- Attract and retain more students
- Security & speed of payment
- Reduction in default rates
- Reduction in administration
- Reduction in costs
- Improving the tenant experience
The YourGuarantor scheme allows us to provide an affordable alternative for those previously forced into paying rent upfront, improving the service we offer and experience of our students.
Michael Grace, Student Accommodation co-ordinator, University of Bath
Brunel University London is always seeking to find ways to solve any problems that our students might have, and YourGuarantor helps us do that, by allowing our international students to pay for their off campus accommodation on a monthly basis rather than up front – thus relieving some of the financial pressures that they face.
Professor Andrew George, Deputy Vice Chancellor (Education and International)
The Student Union supports the YourGuarantor scheme; we think it will be of great help to international students who sometimes struggle to find accommodation because they do not have a UK-based guarantor. YourGuarantor has #gotyourback.
Ranjeet Rathore, Brunel University London Student Union International Officer
The website is really easy to navigate and clear which makes approving smooth. I look forward to further developments to make the process even smoother.
Marissa Newton, YG scheme administrator, Student Service, KCL
This is a cracking idea to solve the problem for students who struggle to find a UK guarantor.
Alex Kirsch, Durham University Student, Van Mildert College, 2nd year
At the University of Essex we are committed to providing the best possible experience for our international students. We recognise the difficult situation that may arise when they are asked to pay their full rent in advance, which is why we are delighted to be able to help our students with the YourGuarantor service.
Christopher Oldham, Director of Essex Campus Services, University of Essex
KCLSU is really happy to see that King’s are recognising the importance of supporting our international students. As we focus on internationalising our student cohort even further, it is important we are putting in the right mechanisms to ensure they can afford to stay here. It is also an essential way of saying that we value our international students that come to study at King’s.
KCLSU officers, KCL
Having originally come from Singapore, I experienced this issue first hand, I would have happily paid the fee instead of the 12 months up front. This is a simple way for the university to act as UK guarantor for their students without risk or cost, no brainer.
Patrick McConnell, former President of Van Mildert College, Durham University
We have known for a long time that this is a big issue for our students. I am delighted we have found a solution that caters for their needs and is available to all our international students who aren’t in their first year of an undergraduate degree. We have consulted students on this scheme and they were very pleased with it, and KCLSU have been key partners in identifying and agreeing this solution, which I am confident will have a very positive impact on the experience of our international students. Combined with our guarantee of a room in King’s accommodation for all first year undergraduates this means King’s is providing a housing solution for every single one of our international students should they require it.
Chris Shelley, Director of Student Services, KCL
Our partnership with YourGuarantor provides us with surety we need to be able to act as UK Rent Guarantor for our international students. This issue has been long standing and I’m sure our international students will be benefit greatly from this new service.
Darren Baker, Strategic Planning Manager, University of Essex Campus Services
Not only is YourGuarantor safer and significantly cheaper than other guarantor providers, by partnering with universities it provides a more trusted option for our international students.
Simon Povey, President-Elect of Van Mildert College, Durham University
This is an impeccable news for all King’s students. Having an international rent guarantor scheme means more satisfaction and living security for international students. This progression shows that KCL and KCLSU are always working together to improve the experience of international students at Kings in a better way and that Kings is always there to support its students in any way possible.
Momin Saqib, International Student Officer, KCL
I think it’s a very, very good idea and I don’t think 3.5% is too much.
Daniel Ball, Durham University Student, Van Mildert College, 2nd year
The requirement to provide a UK guarantor in order to rent a property has been a rising problem for International students over the last few years, we’re really pleased that KCL has taken a positive step towards supporting our students’ needs by launching the scheme.
Aagje Sleightholme, Student Housing Advisor, Student Advice Service. KCL
In delivering our rent guarantor scheme, YourGuarantor enables us to manage our risk. With over 8,000 overseas students, it also provides us with the scope and scale our college requires.
Chris Shelley, Director of Student Services, KCL
YourGuarantor provides a solution to an issue international students have been facing for many years. At the same time it provides the security needed, in a well-structured way, to the university who acts as a guarantor. Without any doubt, I would recommend this scheme to institutions who really want to improve the student experience and journey of their international students.
Adrian Andreas Patsalos, President, University of East London Students’ Union (UELSU)
Market leading products come with market leading insurers.
Our insurer is rated AA- (Very Strong) by S&P and A+ (Superior) by A.M. Best.
The YG Gateway provides universities with the platform needed to deliver a Rent Guarantor Scheme in a scalable way whilst maintaining control and minimising administration. We are able to work with universities and private halls providers and integrate our solutions with the institutions existing platforms.Learn More
The YG Gateway is free to use for our partners and the cost of the insurance policy can usually be offset by the fees paid by students requiring the guarantor service. Under our model, the student pays for the service with the cost being a function of the value (or share of) the lease. Our base cost is usually 3.5% of the value of the lease (overseas students). In addition, we do not credit reference students nor do we ask for co-signer.Contact Us