A real estate personal guarantee allows a tenant to have someone else, the “co-signer” or “guarantor,” guarantee a lease in the event the tenant does not comply with its terms. Therefore, if the tenant does not pay rent or breaks the lease for any other reason then the person who co-signed, the “guarantor,” would be required to pay for any unfulfilled obligations. A co-signer is equally as liable for a lease as the tenant.

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) What is a Real Estate (Lease) Personal Guarantee Form?

How to Write

Step 1 – Download in Adobe PDF, Microsoft Word (.docx), or Open Document Text (.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.