Home Business Tenancy (AST) Guarantee
This Home Business Tenancy (AST) Guarantee is a simple one page document in which a guarantor promises to pay the rent if the tenant fails to do so and to compensate the landlord for any loss caused by the tenant’s breach of the terms of the tenancy agreement.
Landlords are likely to ask for a guarantor if the tenant does not have a satisfactory credit history or references.
The proposed form of the Home Business Tenancy Agreement should be annexed to this document so that all parties know what the extent of the guarantor’s liability is.
Under the Tenant Fees Act 2019 (affects England only) and the Renting Homes (Fees etc.) (Wales) Act 2019 (affects Wales only) landlords and/or letting agents are prohibited from charging any fees associated with requesting a guarantor to a tenancy caught by these acts (this includes referencing fees and administration fees).
This template is duplicated in our Assured Shorthold Tenancies folder.
This document is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
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