tiktok³ÉÈË°æ

The Personal Guarantee Rental Agreement is a critical document in Canadian residential and commercial leasing, commonly used when landlords require additional security beyond a standard rental deposit. This typically occurs when renting to students, first-time renters, individuals with limited credit history, or in high-value property transactions. The agreement must comply with provincial residential tenancy laws and federal regulations while clearly defining the scope of the guarantee, enforcement mechanisms, and the rights and obligations of all parties. It provides landlords with additional security while protecting guarantors through clear liability limitations and enforcement conditions. The document is particularly important in markets with high rental values or where tenant screening suggests additional security is prudent.

1. Parties: Identifies and provides full legal names and addresses of all parties: Landlord, Tenant(s), and Guarantor(s)

2. Background: Explains the context of the agreement, including reference to the main rental agreement and the need for a guarantee

3. Definitions: Defines key terms used throughout the agreement, including 'Guaranteed Obligations', 'Rental Agreement', 'Premises'

4. Scope of Guarantee: Details exactly what obligations are being guaranteed, including rent, damages, and other financial obligations

5. Duration of Guarantee: Specifies how long the guarantee remains in effect and any conditions for termination

6. Guarantor's Obligations: Lists specific responsibilities and commitments of the guarantor, including payment terms and notification requirements

7. Enforcement: Explains when and how the guarantee can be enforced, including any notice requirements

8. Landlord's Rights: Outlines the landlord's rights in relation to the guarantee, including right to pursue guarantor without first pursuing tenant

9. Guarantor's Representations: Statements confirming guarantor's capacity and authority to provide the guarantee

10. Governing Law: Specifies the jurisdiction and applicable laws governing the agreement

11. Execution: Signature blocks and witnessing requirements