How to find a guarantor in France?
Each year about 350 000 foreign students begin their adventure in France: whether it is a 6-month exchange or a multi-year academic project, the hexagon is one of the most attractive targets in Europe.
Unfortunately, especially in cities like Paris, Bordeaux, Lyon, Lille with a strong student concentration, settling can become a hell for newcomers looking for a new accommodation: you have to have a complete file, attractive and the chance to find the dream apartment, that really suits.
The study of the file
It is undoubtedly the most popular practice among homeowners, real estate agencies and student residences.
On the other hand, it is also the most discriminatory compared to the candidate’s profile. This practice takes into account also the presence of a close person in the entourage of the tenant candidate who is responsible for paying the rent in case of default: the guarantor.
The guarantor is asked not only to foreign students but also to young workers, self-employed entrepreneurs and temporary workers, thereby reducing the range of eligible candidates.
Having a guarantor probably represents the most difficult obstacle for most foreign students to overcome: landlords ask for a person with income in France of at least three or four times the amount of the rent, with a confirmed contract which commits himself to the tenant in case of payment default.
The advantage of being so selective towards the tenant and his guarantor also, at the end of the chain for the landlord, is to be personally persuaded of his choice. On the other hand, in case of non-payment, the management and especially the cost of the numerous and disturbing procedures remain its responsibility and at its expense, especially if the procedure must cross national borders.
Several solutions are then proposed to the tenants.
For example, landlords may ask to pay months and up to one year's rent in advance, with the risk for the tenant not to be reimbursed if he decides to leave before the end of his lease.
Another solution often used is to provide a bank certificate that shows the lessor a certain amount of money blocked on an account dedicated to the payment of rent.
All these solutions, even if they can solve the issue of guarantees after some administrative efforts, do not represent a solution accessible to everyone.
An innovative solution for foreign students but also for families moving to France for the first time, expatriates and workers who have no traditional income is Garantme.fr.
Garantme is listening to these foreign students who have the chance to travel through France a few months or years in their lives. It allows them to quickly find housing with a guarantor but also to France to honor its reputation as a welcoming country.
What is it about?
Garantme is a solution that replaces traditional guarantors.
In partnership with two insurers, GALIAN and MMA, a team studies candidates' files and forwards to those who are eligible a Certificate with which they can begin their search for housing. Garantme also supports students throughout their research through a network of partners and a team available by phone.
Once the housing has been found, the tenant himself activates the guarantee, which his lessor becomes a beneficiary, reassuring him either on his financial concerns or on the validity of the documents provided: even if they are in a language other than French!
The lessor is covered up to € 36,000 unpaid for the duration of the lease and its renewals without having to rely on the financial strength of a natural person and he is freed from the weight of the legal procedures with a continuous assistance with experts of the sector. To date, 2,000 tenants have been selected with Garantme as guarantor.
