The agreement is limited to rent
Rentmigo's obligation as corporate guarantor is limited to rent arrears as defined in the Rent Guarantee Agreement. The following are not included:
Property damage: any damage caused by the tenant is not part of the rent guarantee. This is typically addressed through the tenancy deposit.
Utility arrears: unpaid gas, electricity, water, or broadband bills are the tenant's responsibility.
Council tax: council tax arrears are not included.
Legal costs: legal costs are not included, other than those associated with eviction proceedings relating to rent arrears, where applicable and agreed.
Consequential losses: any indirect losses resulting from the tenant's non-payment of rent are not included.
Costs unrelated to rent: any charge, fee, or liability that is not the monthly rent declared in the agreement.
Rent increases beyond the agreed threshold
If the tenant's rent increases by more than 10% cumulatively over the guarantee period, Rentmigo's obligation is capped at a monthly amount that is 10% above the original rent.
Situations where the agreement may not apply
Payment may not be made under the agreement where:
The landlord has not followed the required process for reporting arrears
An unreasonable delay by the landlord has increased the amount that would otherwise be owed
There is a reasonable suspicion of fraud or dishonesty
The tenancy agreement is not compliant with applicable legislation
The property does not meet the definition of an eligible residential property
Full terms
The Rent Guarantee Agreement sets out all terms, conditions, and exclusions in full. Landlords should familiarise themselves with the agreement at the point of signing.