The Guarantor Joint Tenancy Agreement is essential when multiple tenants share a property and require guarantor support, common in student lettings or young professional rentals under England and Wales jurisdiction. This document combines standard tenancy terms with specific guarantor provisions, ensuring that guarantors understand and accept their obligations to cover rent and other responsibilities if the tenants default. It's particularly important for landlords seeking additional security while letting to multiple occupants who share joint and several liability.
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1. Parties: Details of landlord, tenants, and guarantor(s)
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Term of Tenancy: Duration and type of tenancy
5. Rent and Payment Terms: Rent amount, payment schedule, and methods
6. Deposit Arrangements: Deposit amount and protection scheme details
7. Joint Tenant Obligations: Joint and several liability provisions
8. Guarantor Obligations: Scope and extent of guarantee
1. Break Clause: Early termination provisions - use when parties want flexibility to end tenancy early
2. Subletting Provisions: Rules regarding subletting - include when subletting might be considered
3. Pet Clauses: Terms for keeping pets - include when pets are allowed in property
1. Schedule 1: Inventory: Detailed list of furniture and fittings
2. Schedule 2: Property Condition Report: Initial condition of property
3. Schedule 3: Guarantor Financial Information: Evidence of guarantor's financial status
4. Appendix A: House Rules: Additional property-specific regulations
5. Appendix B: Utility Responsibilities: Breakdown of utility payment responsibilities
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