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Rental Guarantee Form Template for England and Wales

A Rental Guarantee Form is a legally binding document under English and Welsh law that provides security to landlords by establishing a third party's commitment to cover rental payments and other tenancy obligations if the tenant defaults. The document outlines the scope of the guarantee, payment terms, duration, and enforcement provisions, ensuring compliance with relevant property and contract legislation in England and Wales.

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What is a Rental Guarantee Form?

The Rental Guarantee Form is essential in situations where additional security is required for a tenancy agreement in England and Wales. This document is commonly used for student lettings, corporate rentals, or when tenants have limited credit history. The guarantee provides landlords with financial security while enabling tenants to secure properties they might otherwise be unable to rent. The form includes specific details about the guaranteed obligations, maximum liability, duration of the guarantee, and circumstances under which it can be enforced, all within the framework of English and Welsh property law.

What sections should be included in a Rental Guarantee Form?

1. Parties: Details of guarantor, landlord, and tenant

2. Background: Context of the guarantee and reference to main tenancy agreement

3. Definitions: Key terms used throughout the document

4. Guarantee Obligations: Core guarantor commitments and extent of liability

5. Duration: Term of the guarantee and conditions for termination

6. Payment Terms: Timing and method of payments under the guarantee

7. Enforcement: Conditions and process for enforcing the guarantee

What sections are optional to include in a Rental Guarantee Form?

1. Assignment: Rights to transfer the guarantee, used when assignment might be needed

2. Multiple Guarantors: Joint and several liability provisions for cases involving more than one guarantor

3. Insurance Requirements: Additional insurance obligations when specific coverage is required

What schedules should be included in a Rental Guarantee Form?

1. Property Details: Specific details of the property being rented

2. Tenancy Agreement: Copy or key terms of the underlying tenancy agreement

3. Payment Schedule: Detailed breakdown of payment obligations and dates

4. Guarantor's Statement of Assets: Financial information supporting guarantee capacity

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

England and Wales

Publisher

Genie AI

Document Type

Guarantee Agreement

Sector

Banking

Cost

Free to use

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