Free Lease Guaranty Form
Found a guarantor to back your lease and need a form for it? Our free lease guaranty form will help to tie this guarantor to your lease agreement and give you an added peace of mind.
What You Should Know Before Using Our Lease Guarantee Form
A lease guaranty form is one of the very few things in the world that benefits both the landlord and tenant at the same time. If you run into problems when negotiating your lease agreement, this guarantee of lease may just be what you need to seal the deal.
If you are a landlord, having someone else promise to pay the rent and other bills in case of default is always a good thing. Just make sure that you put in the effort when screening your guarantors. Have them fill in a Lease Guarantor Application and don't forget to run a credit check on them as well.
If you are a tenant, this guarantee of lease works in your favor too... especially you don't have much of a rental history or a credit score that you can be proud of. Having a guarantor stand behind you may just sway the landlord's decision to accept you as a tenant. If you already have a stable income and respectable scores, this grants you the clout to ask for a lower rent.
*Make sure this lease guarantee complies with your local real estate laws before using it. If you have any doubts, you can ask a real estate lawyer online.
Lease Guaranty
In consideration for the Landlord leasing the Property to the Tenant, the undersigned Guarantor(s) guarantee the performance of all Tenants for the Lease described below:
Landlord: _________________________
Tenant(s): __________________________________________________
Property:
___________________________________________________________________________
Starting Date of Lease: ____________________
1. Guaranteed Payments: If any Tenant fails to make any payment under the Lease, the Guarantor(s) will be responsible for making such payments to the Landlord or the Landlord's agent. Payments under the Lease include but is not limited to rent, late rent fees, utility bills, repair costs, maintenance costs, pet charges, legal fees and other costs specified in the lease agreement.
2. Lease Modification, Extension or Renewal: If the Lease is modified or extended / renewed beyond its original duration, this Guaranty will continue to apply to such Lease modification, extension or renewal.
The Guarantor(s) hereby waives the right to approve or to be given notice of any Lease modification, extension or renewal. The Guarantor(s) may request a copy of the lease agreement from the Tenant at any time.
3. Joint and Several Liability: If there is more than one Guarantor, then all Guarantors are jointly and severally liable under this Guaranty.
4. Landlord's Legal Expenses: The Guarantor shall pay for all legal costs and lawyer fees incurred by the Landlord in enforcing this Guaranty.
5. Validity: If any term of this Guaranty is held to be invalid, it shall not affect the validity of any other term in the Guaranty.
6. Additional Terms and Provisions:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Guarantor Name: _________________________
Guarantor Signature: _________________________
Date: _______________
Guarantor Name: _________________________
Guarantor Signature: _________________________
Date: _______________
