Use this personal guarantee lease template to create a personal guarantee lease to be used by both landlords and tenants. This document is typically used when the landlord is concerned about the tenant’s creditworthiness or financial stability. A personal guarantee gives the landlord additional protection if the tenant fails to pay rent or otherwise breaches the terms of the lease.
This Personal Guarantee Lease (herein, the "Lease") is made and entered into by and between:
[Landlord.Company] (herein, the "Landlord"), with a mailing address of [Landlord.StreetAddress] [Landlord.City] [Landlord.State] [Landlord.PostalCode] , and [Tenant.Company] (herein, the "Tenant"), with a mailing address of [Tenant.StreetAddress] [Tenant.City] [Tenant.State] [Tenant.PostalCode] , each a party, collectively referred to herein as the "Parties," on [Document.CreatedDate] .
The Landlord leases to the Tenant the property (Herein, the “Premises”) located at (insert property address). The Premises consist of approximately (insert square footage) of rentable (insert type of space, e.g., office, residential, commercial, etc.) space and includes the following amenities: (list amenities). The Tenant shall have the right to use and occupy the Property during the term of this Agreement.
The Landlord and Tenant agree that the Premises are in good condition and fit for the use intended by the parties. The Landlord warrants no known damage to the building, which may cause any alterations or repairs necessary to correct such damage to be charged to the Tenant.
This agreement will be a term of (insert number) months, starting on (date) and ending on (date) (herein, the "Lease Term").
The Tenant shall have the option to renew this Agreement for an additional (number) years upon written notice to the Landlord at least (number) months before the end of the initial term, provided the Tenant is in full compliance with all terms and conditions of this Agreement at the time of renewal.