Personal Guarantee for a Lease Agreement (Residential & Commercial)

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Updated August 07, 2022

A real estate personal guarantee requires a 3rd party (guarantor) to fulfill the obligations of a lease in the event of default by a tenant. Meaning, if the tenant doesn’t pay rent or breaks the lease for other reasons, the guarantor would be liable.

For example, if a tenant refuses to pay rent and vacates a property, the guarantor will be responsible to pay the rent for the remainder of the term.

Release of Personal Guarantee – To be executed at the completion of a lease or if the Guarantor is to be released for another reason.

Video

How to Write

Step 1 – Download in Adobe PDF, MS Word (.docx), or OpenDocument (.odt).

Step 2 – After attaching the guarantee form to the lease agreement the following needs to be entered:

  • Date of lease contract
  • Landlord’s name
  • Tenant’s name

Step 3 – Scroll to the bottom of the document and enter:

  • Effective date
  • Guarantor’s (Tenant’s) signature and printed name including their contact information (telephone, email address, etc.)

Step 4 – The document is now apart of the lease and the tenant shall be held personally liable in the chance of default.

Related Forms

Loan Personal Guarantee Form

Download: Adobe PDF, MS Word, OpenDocument