Assured Shorthold Tenancy Agreement




 




Tenancy Agreement Template

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Guarantors

Landlords seeking additional assurances that their rent will be paid can, before accepting tenants, request that they provide a guarantor.

Guarantors effectively agree to stand in the place of a tenant should the rent not be paid.

To be effective a guarantee of this kind should be in writing and signed by both the landlord and the guarantor, and witnessed by an independent person. Should it be necessary to take legal action to recover unpaid rent the landlord can do so against both the tenants and the guarantor.

Obviously landlords will wish to make sure that guarantors have the wherewithal to fulfil their commitment to make good any shortfall in the rent, and should therefore conduct the same credit checks on guarantors as they would tenants.

A suitable form of guarantee is set out below.

 

GUARANTEE

In respect of tenancy agreement between

………….................………….. and …………..................….……………

 

To: (name of landlord)…………………………......................................……….……..………

Of: (landlord’s address)…………………........................................……………………………

(Hereinafter called “the Landlord”)

I/We: (name of guarantor(s))……….……………......................................………………….

Of (guarantor’s or guarantors’ address)…..…..……….................................……………

(Hereinafter called "the Guarantor")

Request you to enter into the attached tenancy agreement (hereinafter called “the Agreement”) which is expressed to be between yourselves and [insert name of Tenant] (hereinafter called “the Tenant”) relating to the letting of [insert address] at a rent of [insert rent] per calendar month in advance on the [insert date] of each month, and in consideration of you so doing I/We hereby (jointly and severally) undertake and agree with you as follows:

(1)That the Tenant shall pay the rent reserved in the Agreement on the days and in the manner aforesaid and shall perform and observe all the obligations on the part of the Tenant contained in the Agreement; and

(2) That in the case of default in the payment of such rent or in the performance or observance of such obligations I/We shall pay and make good to the Landlord on demand all losses damages costs (including legal costs) and expenses thereby arising or incurred on an indemnity basis PROVIDED THAT any neglect or forbearance by the Landlord in endeavouring to obtain payment of the rent reserved by the Agreement when the same becomes payable or to enforce performance or observance of the several obligations on the Tenant’s part therein contained, or any time to pay which may be given to the Tenant by the Landlord, shall not release or exonerate or in any way affect the liability of the Guarantor under this indemnity; and

(3) That the provisions of this indemnity shall apply to any increased rental and/or to any continuation extension renewal or re-grant of the tenancy created by the Agreement whether by operation of law or agreement between the Landlord and the Tenant or otherwise as if this indemnity were incorporated in full in such continued extended renewed or re-granted tenancy (as the case may be) and for the avoidance of doubt the Guarantor hereby agrees with the Landlord that the Tenant shall pay the rent reserved by such continued extended renewed or re-granted tenancy (as the case may be) and shall perform and observe all the obligations on the part of the Tenant therein contained

 

Dated this………….........…………day of…………..........……………….200

N.B. THIS IS A LEGAL DOCUMENT. READ IT CAREFULLY BEFORE SIGNING AND DO NOT SIGN IT UNLESS YOU ARE WILLING TO BE BOUND BY ITS TERMS

 

Signature of Guarantor(s)………………………......................................………………

Witness

Signature of Witness: …….…..………...........................................…………………

 

Print name …………...............................................……………………………………...

Address ………………………..................................................……………………………

Occupation..……………………………………………….................................................

 




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