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Personal Guarantee Lease
A Personal Guarantee Lease Template helps landlords and business tenants record a promise by an individual to pay the lease if the business cannot. Use this free, ready-to-edit form to outline the lease details, the guarantor's responsibilities, and the limits of the guarantee. Fill in the details, download, and get it signed in minutes.
Personal Guarantee Lease Template to Back a Commercial Lease with a Personal Promise
A personal guarantee lease is a written agreement in which a person, called the guarantor, promises to pay the rent and other lease costs if the tenant fails to pay. It is often used when a new or small business rents a shop, office, or warehouse and the landlord wants extra protection. It names the landlord, the tenant business, the guarantor, and the lease being guaranteed. It works for retail spaces, offices, restaurants, warehouses, and equipment leases. Without a written guarantee, a landlord may have no way to collect unpaid rent from the business owner, and a guarantor may not fully understand what they are agreeing to.
Benefits of Using a Ready-Made Template Instead of Writing One Yourself
Writing a personal guarantee from scratch can be confusing, and it is easy to miss key points like the amount or time limit of the guarantee, which costs are covered, what happens if the lease is renewed, or how the guarantor can be released. These gaps can lead to disputes and heavy personal financial risk. A ready-made Personal Guarantee Lease Template already includes all the key sections in simple language, so you only add your lease and guarantor details.
Who Can Use This Personal Guarantee Lease Template
This template is useful for landlords, property managers, business owners, startup founders, and commercial tenants. It is also helpful for guarantors such as company directors, partners, or family members who want to understand what they are signing. You do not need legal experience to use it, and it helps all sides start the lease with clear expectations.
How to Fill Out and Use This Personal Guarantee Lease Correctly
Start by adding the date and the full names and addresses of the landlord, the tenant, and the guarantor. Describe the lease being guaranteed, including the property address, lease date, monthly rent, and lease term. State what the guarantor is promising to cover, such as unpaid rent, late fees, repairs, and legal costs. Decide whether the guarantee is unlimited or has a maximum amount or time limit. Explain whether it continues if the lease is renewed or changed, and how the guarantor can be released. Add how the landlord will notify the guarantor of a missed payment. All parties should read it carefully, sign and date it, and keep a signed copy. A guarantor may wish to get independent legal advice first.
How to Use Agreed Templates
Start With the Template
Open the Product Agreement Template in your Agreed workspace and begin with a ready-to-use agreement structure.
Customize Agreement Details
Add or edit product details, responsibilities, pricing, deliverables, timelines, and other terms to match your agreement needs.
Review, Sign & Manage
Send the agreement for review and approval, collect signatures, and manage the completed agreement securely in Agreed.
Frequently Asked Questions.
Everything you need to know about Agreed. Can't find what you're looking for?
It should include the names of the landlord, tenant, and guarantor, the lease details, what costs are covered, any limit on the amount or time, renewal and release terms, notice of default, and signatures of all parties.
Yes, if it is signed willingly and the terms are lawful. The guarantor can be personally responsible for the debt, which may put their savings or property at risk. Rules differ by location, so check local laws or speak with a legal professional before signing.
A limited guarantee caps the guarantor's responsibility at a set amount or time period. An unlimited guarantee covers all amounts owed under the lease, which carries much higher risk. Many guarantors try to negotiate a limit before signing.
Only if the landlord agrees or the guarantee has a release clause, such as after a set number of on-time payments or a security deposit. Without one, the guarantor usually stays responsible until the lease ends and all debts are paid.
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