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Guarantee Rental Agreement Template for Australia

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Key Requirements PROMPT example:

Guarantee Rental Agreement

"I need a Guarantee Rental Agreement for a student apartment in Sydney, where the tenant's parents will act as joint guarantors, with the guarantee period running from January 2025 to December 2025, and I want to include specific provisions for rent payment schedules and academic term breaks."

Document background
The Guarantee Rental Agreement is essential in Australian residential tenancy situations where additional financial security is required beyond the standard rental bond. This document is commonly used for student rentals, first-time tenants, or situations where the tenant's financial history or circumstances necessitate extra assurance for the landlord. The agreement complies with Australian federal law and state-specific residential tenancy legislation, providing a structured framework for guarantee arrangements. It details the guarantor's obligations, limits of liability, enforcement procedures, and the specific circumstances that trigger the guarantee. The document includes all necessary elements required by Australian law for a valid guarantee, ensuring protection for all parties involved while maintaining compliance with relevant consumer protection and tenancy regulations.
Suggested Sections

1. Parties: Identifies and provides full details of all parties: Landlord, Tenant(s), and Guarantor(s)

2. Background: Explains the context of the agreement, including reference to the main rental agreement

3. Definitions: Defines key terms used throughout the agreement

4. Scope of Guarantee: Clearly outlines what obligations are being guaranteed and the extent of the guarantee

5. Guarantor's Obligations: Details the specific obligations and responsibilities of the guarantor

6. Duration of Guarantee: Specifies how long the guarantee remains in effect

7. Landlord's Rights: Outlines the landlord's rights in relation to enforcing the guarantee

8. Payment Terms: Specifies when and how the guarantor must make payments if the guarantee is called upon

9. Default and Enforcement: Describes what constitutes a default and the enforcement process

10. Notices: Specifies how and where formal notices must be given to all parties

11. Governing Law: Specifies that Australian law governs the agreement and which state's jurisdiction applies

12. Execution: Formal signing section for all parties

Optional Sections

1. Multiple Guarantors: Section needed when there is more than one guarantor, defining joint and several liability

2. Limit of Liability: Optional section to cap the guarantor's maximum liability

3. Guarantor's Right to Terminate: Section included when the guarantor is given rights to terminate the guarantee under specific conditions

4. Property Sale Clause: Section required if the guarantee needs to address what happens if the property is sold

5. Dispute Resolution: Detailed alternative dispute resolution procedures if parties want to specify these

6. Guarantor's Acknowledgments: Additional acknowledgments and confirmations from the guarantor regarding independent legal advice

7. Privacy and Confidentiality: Detailed privacy provisions if handling sensitive information beyond standard requirements

Suggested Schedules

1. Schedule 1 - Primary Rental Agreement: Copy or key details of the primary rental agreement being guaranteed

2. Schedule 2 - Guaranteed Obligations: Detailed list of all obligations covered by the guarantee

3. Schedule 3 - Guarantor's Financial Statement: If required, a statement of the guarantor's financial position

4. Appendix A - Guarantee Amount Calculation: Method for calculating the guarantee amount if not a fixed sum

5. Appendix B - Required Notices Format: Templates for formal notices required under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






































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Relevant Industries

Real Estate

Property Management

Residential Housing

Student Accommodation

Corporate Housing

Legal Services

Financial Services

Property Investment

Relevant Teams

Legal

Property Management

Leasing

Operations

Risk Management

Compliance

Contract Administration

Student Housing

Residential Services

Document Control

Relevant Roles

Property Manager

Real Estate Agent

Leasing Consultant

Legal Counsel

Tenancy Manager

Housing Officer

Compliance Manager

Risk Manager

Student Housing Coordinator

Residential Leasing Manager

Contract Administrator

Property Portfolio Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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