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Personal Guarantee Rental Agreement
"I need a Personal Guarantee Rental Agreement for a commercial warehouse in Dubai Industrial City, with two company directors as joint guarantors, starting March 1, 2025, with quarterly rent payments and specific provisions for heavy machinery installation."
1. Parties: Identifies and provides full details of the Landlord, Tenant, and Guarantor including names, addresses, and identification numbers
2. Background: Explains the context of the rental agreement and the requirement for a personal guarantee
3. Definitions: Defines key terms used throughout the agreement including Property, Rental Period, Rent, Security Deposit
4. Property Details: Detailed description of the rental property including address, size, and permitted use
5. Rental Terms: Specifies rent amount, payment schedule, duration of lease, and renewal terms
6. Guarantee Provisions: Details the scope and extent of the guarantee, including the guarantor's obligations and liability limits
7. Tenant's Obligations: Lists all responsibilities and obligations of the tenant under the rental agreement
8. Guarantor's Representations: Guarantor's confirmations regarding financial capacity and understanding of obligations
9. Enforcement: Procedures for enforcing the guarantee, including notice requirements and payment terms
10. Default and Remedies: Consequences of default by either tenant or guarantor and available remedies
11. Termination: Conditions and procedures for terminating the guarantee and/or rental agreement
12. Governing Law and Jurisdiction: Confirms UAE law governance and jurisdiction for disputes
13. Notices: Specifies how formal communications between parties should be made
14. Execution: Signature blocks and execution requirements for all parties
1. Property Maintenance: Include when specific maintenance responsibilities need to be allocated between landlord and tenant
2. Insurance Requirements: Include when specific insurance coverage is required from tenant or guarantor
3. Subletting Provisions: Include if subletting is to be permitted under specific conditions
4. Guarantee Limit: Include when the guarantee is to be capped at a specific amount
5. Multiple Guarantors: Include when there is more than one guarantor, specifying joint and several liability
6. Property Management: Include when a property management company is involved
7. Renewal Terms: Include when specific provisions for lease renewal need to be detailed
8. Force Majeure: Include when specific unforeseen circumstances need to be addressed
1. Schedule 1 - Property Description: Detailed description of the property including floor plans and photographs
2. Schedule 2 - Rent Payment Schedule: Detailed breakdown of rent payments, due dates, and payment methods
3. Schedule 3 - Inventory List: List of furnishings and fixtures included in the rental property
4. Schedule 4 - Condition Report: Detailed report on the condition of the property at the start of the tenancy
5. Schedule 5 - Guarantor's Financial Statement: Summary of guarantor's financial position (if required)
6. Appendix A - Required Documents: Copies of identification documents, trade licenses, or other required documentation
7. Appendix B - Property Rules and Regulations: Building or community rules applicable to the property
Authors
Real Estate
Property Management
Residential Property
Commercial Property
Retail
Hospitality
Office Space
Industrial Property
Banking and Finance
Legal Services
Legal
Real Estate
Property Management
Contracts Administration
Risk Management
Operations
Compliance
Asset Management
Facilities Management
Leasing
Property Manager
Real Estate Manager
Legal Counsel
Contracts Manager
Leasing Manager
Asset Manager
Facilities Manager
Risk Manager
Commercial Director
Operations Manager
Compliance Officer
Property Administrator
Real Estate Agent
Tenant Relations Manager
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