When renting a property with Wellow, having a guarantor is mandatory to validate your application. Here is a complete guide outlining the available options and eligibility criteria for guarantors:
Eligibility Criteria for a Physical Guarantor
A physical guarantor must meet the following conditions to be accepted:
Residence and Employment: The guarantor must live and work in France.
Minimum Income: A net monthly income of at least €2,000 is required. Alternatively, a tax notice from the previous year showing a minimum annual income of €24,000 is acceptable.
Required Documents: The guarantor must provide either a recent payslip or a tax notice as proof of solvency.
Important: If your guarantor does not meet these criteria, they unfortunately cannot be accepted.
Options for Non-Physical Guarantors
If you are unable to provide a qualifying physical guarantor, you can use a private guarantor service. The following are accepted by Wellow:
SmartGarant
GarantMe
These third-party services act as rental guarantors and can help simplify your rental process.
International Guarantors
Guarantors who live abroad cannot be accepted as physical guarantors, as they must reside and work in France.
Additional Information
A physical guarantor does not need to pay any fees to be accepted by Wellow.
Presenting only a scholarship letter or host agreement is not sufficient to replace a guarantor who meets the required financial criteria. These are not accepted as valid proof of solvency.
Wellow does not accept the Visale guarantee scheme.
FAQ
What are the steps to validate a guarantor?
Provide documents proving the guarantor’s income and that they meet the required criteria.
For third-party services like GarantMe, follow the process outlined on their official website.
Can I rent without a guarantor?
No. A guarantor (either physical or through a private service) is absolutely required to finalize a rental contract with Wellow.
By meeting these conditions, you’re on the right track to validating your guarantor and securing your rental with Wellow!