The Guarantor Tenancy Agreement is essential in Singapore's rental market where landlords seek additional security for their property investments. This document is particularly relevant when tenants may not meet certain financial criteria independently, such as students, young professionals, or those with limited credit history. The agreement outlines the guarantor's commitment to fulfill the tenant's obligations if the tenant defaults, while complying with Singapore's legal framework. It includes specific provisions required under Singapore law, including the scope of the guarantee, conditions for enforcement, and remedies available to all parties.
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Key Requirements PROMPT example:
Guarantor Tenancy Agreement
"I need a Guarantor Tenancy Agreement for a 2-bedroom condo in Singapore, where the tenant's parent will act as guarantor, with a 12-month lease starting March 1, 2025, and monthly rent of SGD 4,500."
1. Parties: Identifies and defines the Landlord, Tenant, and Guarantor with their full details and addresses
2. Background: Context of the tenancy agreement and relationship between parties including purpose of guarantee
3. Definitions: Key terms used throughout the agreement including Property, Term, Rent, Security Deposit
4. Demise: Details of the property being leased including address and included fixtures/fittings
5. Term and Rent: Duration of tenancy, rental amount, payment terms and method
6. Guarantor's Obligations: Scope and extent of guarantee including payment obligations and indemnities
7. Tenant's Covenants: Tenant's obligations including property maintenance, permitted use, and compliance with regulations
8. Landlord's Covenants: Landlord's obligations including quiet enjoyment and property maintenance responsibilities
9. Termination Provisions: Circumstances and process for ending the agreement, including notice requirements
1. Break Clause: Early termination options and conditions for both parties
2. Option to Renew: Terms and conditions for extending the lease period
3. Subletting Provisions: Rules and restrictions regarding subletting or assignment of the property
4. HDB Compliance: Special provisions for HDB properties including quota restrictions and eligibility
5. COVID-19 Provisions: Special arrangements related to pandemic circumstances
1. Schedule 1 - Inventory List: Detailed list of furnishings and their condition at commencement
2. Schedule 2 - Property Condition Report: Comprehensive documentation of property condition with photographs
3. Schedule 3 - House Rules: Specific rules for property use, maintenance and common areas
4. Schedule 4 - Payment Schedule: Breakdown of rent, deposit and other financial obligations
5. Schedule 5 - Guarantor's Statement: Declaration of guarantor's financial capacity and commitment
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