Document background
The Guarantor Agreement For Rental Property is a crucial document in Hong Kong's real estate market, commonly used when landlords require additional security beyond a standard rental deposit. This agreement becomes particularly relevant in situations involving student tenants, overseas residents, or tenants with limited credit history. The document, governed by Hong Kong law, establishes a legally binding commitment from a third party (typically a parent, relative, or corporate entity) to guarantee the tenant's obligations, including rent payment, property maintenance, and other lease terms. It must comply with Hong Kong's Landlord and Tenant (Consolidation) Ordinance and contract law principles, while clearly defining the scope of guarantee, duration, and enforcement mechanisms. The agreement serves as a risk management tool for property owners while facilitating rental arrangements for tenants who might otherwise struggle to secure a lease.
