One of the biggest headaches of the property rental market is getting guarantors to sign the dotted line, someone that is responsible for the upkeep on the rental agreement in the event of any type of issue. With many family members and friends uncomfortable with assuming the role of the guarantor is has become a massive issue for students, facing difficulty finding accommodation in London.
As a result the Imperial Collage London is setting up a scheme that is set to be rolled out next year, a pilot scheme that will help international students. With most rental agreements requiring a guarantor to underwrite their rent obligation, many do not have such a connection in the UK, with the college having to step in in order to support their students. Not just aimed at students from overseas this scheme is already set to be used for students from a low-income background, with London landlords often asking for £4,000 up front.
Imperial’s Provost, Professor James Stirling, said:
“The College is committed to providing high quality accommodation to all its first year undergraduate students but we’ve always known that after this securing accommodation can sometimes be difficult, particularly for international students, because of the requirement for rent guarantors.
“In launching this pilot we’re pleased to be able to help students who would otherwise be faced with expensive upfront costs when renting. I’m sure this scheme will be greatly welcomed by our student community.”
Following much research by the Union this decision has been welcomed by officials and students alike, a clear example of the supportive network the college work with.
Emily-Jane Cramphorn, Deputy President (Welfare), Imperial College Union said:
“The scheme will make a real difference to undergraduate students – another example of what we can achieve when we work together with the College on behalf of our student community. I will be looking to build on this approach over the coming months.”
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