As far as I can see the limited agreement is when you have a shared tenancy and the guarantor guarantees only part of the rent, for example, if two unrelated students shared a flat, both with no income, and each tenant had their own parents as guarantors for their half of the rent. The limited guarantor's agreement limits their liability to their half of the rent.
You can find the explanation for the different between the limited and unlimited agreement on the landlords' website. Either the landlord who downloaded the agreement, or their letting agent is likely to be member and have access to the site and explanation of the difference.
One tenant enquired why the agreement was unlimited, thinking that unlimited meant that he would be liable for items other than those in the penance agreement. What if he accidentally set fire to the landlord's sofa? In my view that would be covered by the tenant's deposit which is mentioned in the agreement.
But please check for yourself because legislation is changing all the time. These notes were made by me as a reminder to myself; also to help me if I have to explain, to anybody associated with me, what the situation is in my area of the UK at the time of writing.
I am sharing this information with you, the general public, so that you can see the kind of question which may arise, so you can research further and be prepared with your own answers if you are ever a landlord or tenant. (I am or have been both, living in the UK, USA and Singapore.)
For more details see:
https://www.rla.org.uk/landlord/documents/landlord_document_centre.shtml?ref=menu
You can find the explanation for the different between the limited and unlimited agreement on the landlords' website. Either the landlord who downloaded the agreement, or their letting agent is likely to be member and have access to the site and explanation of the difference.
One tenant enquired why the agreement was unlimited, thinking that unlimited meant that he would be liable for items other than those in the penance agreement. What if he accidentally set fire to the landlord's sofa? In my view that would be covered by the tenant's deposit which is mentioned in the agreement.
But please check for yourself because legislation is changing all the time. These notes were made by me as a reminder to myself; also to help me if I have to explain, to anybody associated with me, what the situation is in my area of the UK at the time of writing.
I am sharing this information with you, the general public, so that you can see the kind of question which may arise, so you can research further and be prepared with your own answers if you are ever a landlord or tenant. (I am or have been both, living in the UK, USA and Singapore.)
For more details see:
https://www.rla.org.uk/landlord/documents/landlord_document_centre.shtml?ref=menu
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