Guarantee to Landlord in relation to Tenancy / Lease

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Description:

In relation to a lease / tenancy / rental, a guarantee is given by Tenant's parent / employer to the Landlord for the Tenant's obligations. This is drafted in neutral form.

This document refers to the Tenancy Agreement between the Landlord and the Tenant. In consideration of the Landlord entering into the Agreement, the Guarantor of the Tenant guarantees (as principal obligor and not merely as a surety) the Landlord the proper and punctual observance and performance by the Tenant of all its obligations, commitments and undertakings under or pursuant to the Agreement).

If and each time that the Tenant fails for any reason whatsoever to perform or observe any of the obligations, commitments or undertakings referred to in clause 1, the Guarantor shall forthwith upon demand unconditionally they commit themselves hereby irrevocably to pay the Landlord an amount not exceeding amount under the presumption that they are in compliance with their obligations under the respective Agreement.

Any amounts payable under this guarantee shall be paid in full without any deduction or withholding whatsoever (whether in respect of set-off, counterclaim, duties, charges, taxes or otherwise) unless such deduction or withholding is required by law, in which event the Guarantor shall pay to the Landlord an additional amount so that the net amount received by the Landlord will equal the full amount which the Landlord would have received had no such deduction or withholding been made.

How to use this Document?

This guarantee relating to the Tenancy Agreement template shall be carefully read by the Guarantor and the Landlord.

This guarantee to the Landlord may be used upon a lease of residential property between the Tenant and the Landlord, whereby the guarantee is drafted in neutral form.   

The guarantor should sign and return a copy of the document. The name of the Tenant, the relationship between the Tenant and Guarantor, the date of the Agreement, and the maximum amount guaranteed should all be clearly stated in the agreement. 

How to Tailor the Document for Your Need?

1. Click the “Create Document” button and fill in the details of the parties. You can click the “Fill with Member’s Information” button to complete the party’s information with your personal or business information saved to your account.

2. Please fill in any additional information by following the step-by-step guide on the left-hand side of the preview document and click the “Next” button.

3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.

4. Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.

Document Type:

Assignment / mortgage / legal charge / security interest

Category:

Business > Setup of Business / Entity > Articles of Association / Company Incorporation

 
Keywords:

parental guarantee

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tenancy

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lease

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landlord

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guarantor

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rental

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residential

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domestic

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property

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Author:

DocPro Legal

DocPro Legal is a team of legal professionals with a passion for making quality documents and legal contract templates widely available to the public through cutting edge technology. Our lawyers are qualified in numerous common law jurisdictions including the United Kingdom, Australia, New Zealand, India, Singapore and Hong Kong. We have experience in major law firms and international banks with expertise in business, commercial, finance, banking, litigation, family, succession and company laws.