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LSE is long overdue a rent guarantor scheme for its students. Throughout this year I’ve been lobbying for the scheme to be put in place, to make renting in London that much easier. If we pass this this Thursday at Finance Committee, this will be a huge win.
But what exactly is it?
When renting, your landlord will require that you have a ‘guarantor’. This is someone who signs a bit of paper confirming that they will pay your rent should you run into financial difficulty and not be able to do so yourself.
It’s just signing a bit of paper?
The guarantor has to be based in the UK, which for many international students just isn’t possible. In that case, the landlord will ask for up to six months rent in advance. That too, for many international students just isn’t possible - we’re talking thousands and thousands of pounds to be paid up front in one go.
UK students face some different issues. Many landlords require your guarantor to have a certain amount of income each year. The threshold can be set so high that it excludes students whose parents earn less. Then these students face a similar option to international students - pay 6 months up front, or don’t rent.
So what does the rent guarantor scheme do?
I’ve been lobbying for a rent guarantor scheme to be put in place, similar to one that UCL runs.
What it means is that if you don’t have the means to secure a guarantor, LSE will act as the guarantor on your behalf. Obviously there are levels of financial risk that they take on board with this, which is why they only take students who have been at LSE for over a year, and will have a credit history.
This will enable students without guarantors to rent and live in London. This is even more pressing considering that LSE accommodation is at capacity and so there are few opportunities for LSE students to live in halls should they not be able to rent.
When’s this happening?
29th January is the first Lent Term Finance Committee. We will get it passed (and if not, there’ll be trouble).
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What’s the best way of feeling better AND being more productive? Doing more exercise!
Next week we’re holding loads of drop-in sports sessions so you can see what suits you. Read on to find out what’s on offer!
Head to the Active LifeStylE Facebook page for locations and updates!
Monday 26th January
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Thursday 29th January
Friday 30th January
Everyone’s welcome to turn up to the classes to find out more, no matter what your level of expertise. If you want clarification about anything though, write to j.ralph @lse.ac.uk or message Candace Gowler or Teddy Woodhouse.
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Tour London’s East End and meet other international students with StudentUniverse and The Abroad Guide!
Student Universe are holding a FREE event on Wednesday (28th January) - starting with a tour of the East End, and ending with an international student social. Click here to book a place!
Undiscovered London Tour
Social - plus free drinks
Where and when?
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