The Tenancy Agreement With Guarantor is a specialized legal document used in Pakistan when additional financial security is required for a property rental arrangement. This type of agreement is commonly used for student rentals, first-time tenants, or situations where the tenant's financial credentials alone may not meet the landlord's requirements. The document combines standard tenancy provisions under Pakistani law with specific guarantor clauses, ensuring the guarantor understands and accepts their obligations to fulfill the tenant's responsibilities if the tenant defaults. The agreement must comply with the Transfer of Property Act 1882, relevant provincial rent control ordinances, and other applicable Pakistani property laws. It includes comprehensive terms covering rent payments, maintenance, security deposits, and specific conditions under which the guarantor's obligations may be invoked.
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1. Parties: Identifies and provides full details of the Landlord, Tenant, and Guarantor
2. Background: Brief context of the agreement and relationship between the parties
3. Definitions: Defines key terms used throughout the agreement
4. Demise: Details of the property being let and the term of the tenancy
5. Rent and Payment Terms: Specifies rent amount, payment schedule, and payment methods
6. Security Deposit: Details of deposit amount, holding terms, and conditions for return
7. Tenant Obligations: Comprehensive list of tenant's responsibilities and commitments
8. Landlord Obligations: Comprehensive list of landlord's responsibilities and commitments
9. Guarantor Obligations: Details of guarantor's responsibilities and extent of guarantee
10. Utilities and Maintenance: Responsibilities for utilities payment and property maintenance
11. Property Use and Occupancy: Rules regarding property usage, occupancy limits, and restrictions
12. Insurance: Insurance requirements for both landlord and tenant
13. Termination: Conditions and procedures for ending the tenancy
14. Notices: Process for serving notices between parties
15. Governing Law: Specifies Pakistani law as governing law and relevant jurisdiction
16. Execution: Signature blocks for all parties and witnesses
1. Subletting and Assignment: Include when subletting or assignment might be permitted under certain conditions
2. Pets: Include when pets are allowed or specific pet policies are needed
3. Alterations and Improvements: Include when tenant is allowed to make changes to the property
4. Break Clause: Include when early termination options are to be provided
5. Additional Occupants: Include when other occupants besides the main tenant are allowed
6. Parking: Include when parking spaces are part of the tenancy
7. Common Areas: Include for properties with shared facilities or common areas
8. Force Majeure: Include specific provisions for unforeseen circumstances or events
1. Schedule 1 - Property Inventory: Detailed list of furniture, fixtures, and fittings with their condition
2. Schedule 2 - Property Photos: Photographic evidence of property condition at start of tenancy
3. Schedule 3 - Utility Meters: Initial meter readings for utilities at the start of tenancy
4. Schedule 4 - House Rules: Specific rules and regulations for the property
5. Schedule 5 - Maintenance Schedule: Regular maintenance and inspection schedule
6. Appendix A - Guarantor Financial Information: Confidential financial details of the guarantor
7. Appendix B - Property Floor Plan: Detailed layout of the property
8. Appendix C - Safety Certificates: Copies of relevant safety certificates and inspections
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