Furnished apartment: the security deposit and guarantor

The necessity of a guarantor when renting a furnished apartment

In Lyon's dynamic rental market, particularly for furnished apartments and furnished studios, having a guarantor is a common requirement among landlords. This security mechanism allows them to protect their rental income against the risk of unpaid rent, by ensuring that a third party — the guarantor — will be able to cover any rent owed should the tenant experience financial difficulties.

Why is a guarantor so often required?

A guarantor is especially common when renting furnished apartments, including studios aimed at students. Lyon, with its many higher education institutions, attracts a large student population that does not necessarily have the financial history or regular income to reassure landlords. The guarantor thus becomes an additional safeguard for the landlord, giving them peace of mind about the regularity of payments.

How do you find a guarantor?

Finding a guarantor can be a challenge, especially for international students or young professionals just starting their careers. A guarantor is typically a close contact (a family member or trusted friend) who agrees to act as a security deposit. They make a legally binding commitment to pay the rent in the event that the tenant is no longer able to do so. For those who do not have a local network able to provide a guarantor, alternative solutions exist:

• Garantie Visale: a free scheme offered by the French government, available to students and young workers, which acts as a guarantor for the tenant.
• Paid guarantor services: several companies offer to act as a guarantor for a tenant in exchange for a fee or subscription.

What should you do if you have no guarantor?

If you have no guarantor, it is important to discuss alternatives with the landlord. Some may be open to other forms of guarantee, such as an increased security deposit or advance payment of several months' rent. Other innovative solutions, such as bank guarantees, may also be considered. These typically involve the tenant ring-fencing a certain sum in an account, which the landlord can only draw on in the event of unpaid rent.

The different types of guarantee to secure your rental

There are essentially two forms of guarantee: the simple security deposit and the joint security deposit. With a simple security deposit, the landlord must first seek payment from the tenant before turning to the guarantor. With a joint security deposit, by contrast, the landlord can claim unpaid rent directly from the guarantor without contacting the tenant first. Landlords often prefer this latter option for its reliability.

How do you formalise a guarantee?

It is essential to formalise the guarantee in writing, setting out all the terms in full — including rent, utilities, taxes, repairs, occupation indemnities, and interest. This provides legal protection for both the tenant and the guarantor.

Guarantor-free alternatives: the bank guarantee

If you do not have a guarantor, a bank guarantee may be an option. With the landlord's agreement, you can ask your bank to ring-fence an amount equivalent to several months' rent in an account. Should a payment default occur, the landlord can then be reimbursed directly by the bank.

The advantages of furnished studios in Lyon for students

Lyon, as a major educational hub, attracts a large number of students every year, which increases demand for furnished studios in student residences. These accommodations offer many benefits:

• Convenience: Furnished studios in Lyon come fully equipped with everything you need to move in straight away, with no extra hassle.
• Cost savings: Renting a furnished studio eliminates the need to buy furniture, which is financially advantageous for students.
• Flexibility: Renting a studio in a student residence often comes with lease terms tailored to the academic year.

Why choose a student residence for your furnished studio in Lyon?

Opting for a student residence for your studio rental in Lyon offers security, proximity to university campuses, and an enriching community life alongside fellow students. In addition, these residences are often equipped with additional services such as 24-hour security, study rooms, and relaxation areas.