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Old 09.06.2008, 23:07
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what does it mean to be a guarantor

Our nanny is looking to rent her own apartment and is asking us to be the guarantor for her. She will take care of all the financial, and just needs us to sign the contract as a guarantor. Could you kindly advise what does it mean to be a guarantor in Switzerland? What would be the legal implication if she fail to pay rent? abandon the apartment? etc...

Your advise is greatly appreciated.

Thank you.
MNuyen
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Old 09.06.2008, 23:16
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Re: what does it mean to be a guarantor

Guarantor normally means that you are legally responsible to settle any debts related to the contract you are signing that the contract holder either can not or does not pay.

When I first moved to Switzerland the landlord demanded that my company be guarantor on the apartment to ensure that if i left in a hurry, the company would then be responsible for paying the apartment until the end of the contract period, pay for cleaning and repairs etc.
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Old 09.06.2008, 23:27
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Re: what does it mean to be a guarantor

Thank you Zenistar. I will take your comment under advise.
I guess it is more than just a favor. Thanks.
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Old 09.06.2008, 23:36
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Re: what does it mean to be a guarantor

I would always say NO unless it is someone who you can really,really trust
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Old 09.06.2008, 23:42
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Re: what does it mean to be a guarantor

she is our nanny....she works for us. But you are absolutely right, I don't really know her.
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Old 10.06.2008, 09:44
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Re: what does it mean to be a guarantor

Geez, thats a tough spot. I would say never be a guarentor for someone in such a case since if she trashes the place and leaves, or dies, or anything you are completely responsible. Could end up with 1000s owing to the landlord if she messes up the plumbing or something. But at the same time you probably can't keep her as your nanny if you don't do it - ug.
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Old 10.06.2008, 10:11
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Re: what does it mean to be a guarantor

I handle it always like this: Either I give the money directly for the deposit (and know that the amount is gone) or I say, sorry but NO!

If you cancel the contract as Nanny, you can’t cancel the Guarantee you gave…

There is no win situation for you
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Old 10.06.2008, 10:27
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Re: what does it mean to be a guarantor

Thanks Andrew and CityAp.
These are good suggestions.
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Old 10.06.2008, 10:42
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Re: what does it mean to be a guarantor

Personally I would only ever guarantor a member of my close family and only then if they were in a tight spot e.g. my nephew when he needed a new car to get to work (would have lost his job without and his old one blew up) where there was a limited total liability.
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Old 11.06.2008, 22:52
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Re: what does it mean to be a guarantor

Thank you to all the people who helped with advise. I broke the "no" deal to her. It was kind of sad. I really wanted to help, but the legal ramification is too risky. So, it is what it is.... I may loose her in the end. But I may not have to worry about future legal consequent.

Thanks all'ya for your advise.
me
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