A Guarantor Lease Agreement is essential in Austrian property leasing arrangements where additional security is required beyond the tenant's direct obligations. This document is commonly used in situations where a tenant may have limited credit history, be a student, or where the rental value justifies additional security. The agreement must comply with Austrian law, particularly the ABGB (Austrian Civil Code), MRG (Tenancy Act), and consumer protection legislation. It specifies the guarantor's obligations, enforcement procedures, and liability limits, while ensuring all mandatory Austrian legal requirements are met. The document is crucial for protecting landlords' interests while maintaining fairness and legal compliance for all parties involved.
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1. Parties: Identification of all parties: Landlord (Vermieter), Tenant (Mieter), and Guarantor (B眉rge), including full legal names, addresses, and registration details if applicable
2. Background: Context of the agreement, reference to the main lease agreement, and the purpose of the guarantee
3. Definitions: Definitions of key terms used throughout the agreement, including 'Guaranteed Obligations', 'Property', and 'Lease Agreement'
4. Scope of Guarantee: Detailed description of the obligations covered by the guarantee, including maximum liability amount and duration
5. Nature of Guarantee: Specification of whether it's a continuing guarantee and the type of guarantee under Austrian law (e.g., B眉rgschaft or Garantie)
6. Guarantor's Obligations: Detailed obligations of the guarantor, including payment terms and conditions for guarantee activation
7. Duration of Guarantee: Term of the guarantee, including start date and conditions for termination
8. Enforcement: Procedures for enforcing the guarantee, including notice requirements and payment timeframes
9. Guarantor's Representations: Guarantor's confirmations regarding their capacity and understanding of obligations
10. Landlord's Obligations: Obligations to notify guarantor of tenant defaults and other relevant events
11. Communications: Requirements for notices and other communications between parties
12. Governing Law and Jurisdiction: Confirmation of Austrian law governance and jurisdiction for disputes
1. Multiple Guarantors: Required when there is more than one guarantor, defining joint and several liability
2. Corporate Guarantor Provisions: Required when the guarantor is a company, including additional representations and warranties
3. Maximum Liability Cap: Optional section limiting the guarantor's maximum liability, recommended for consumer guarantors
4. Early Termination Rights: Specific conditions under which the guarantor may be released from obligations
5. Guarantor's Right of Recourse: Detailed provisions regarding the guarantor's rights against the tenant after paying under the guarantee
6. Consumer Protection Declarations: Required when the guarantor is acting as a consumer under Austrian law, including mandatory warnings and acknowledgments
7. Property Management: Required when a property manager is involved in administering the lease
1. Schedule 1 - Primary Lease Agreement: Copy or key terms of the main lease agreement being guaranteed
2. Schedule 2 - Guaranteed Obligations: Detailed list of all obligations covered by the guarantee
3. Schedule 3 - Property Details: Description of the leased property and any included fixtures/fittings
4. Schedule 4 - Form of Demand: Template for making a demand under the guarantee
5. Appendix A - Guarantor's Financial Statement: If required, financial information provided by the guarantor
6. Appendix B - Consumer Protection Notice: Mandatory warnings and information for consumer guarantors under Austrian law
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