Document background
The Rent Guarantee Agreement is a crucial document in Belgian rental transactions, used when a third party (guarantor) agrees to secure a tenant's obligations under a lease agreement. This document becomes necessary when landlords require additional security beyond the tenant's personal covenant, particularly in residential and commercial leases where the tenant's financial standing alone may not satisfy the landlord's requirements. The agreement must comply with Belgian federal law and regional housing regulations, which specify maximum guarantee amounts and acceptable forms of guarantee. The document outlines the guarantor's obligations, conditions for calling on the guarantee, and release mechanisms. It's essential to note that since the 6th State Reform in Belgium, housing matters are partially regulated at the regional level, making it crucial to incorporate relevant regional requirements into the Rent Guarantee Agreement.
