The Tenancy Agreement With Guarantor is a crucial legal document used in Nigerian property leasing transactions where additional security is required beyond the standard tenant commitments. It is commonly employed in situations involving first-time tenants, students, individuals with limited credit history, or high-value property rentals. The document incorporates all standard tenancy provisions while also detailing the guarantor's obligations and liability extent under Nigerian law. This agreement type is particularly relevant in urban areas like Lagos, Abuja, and Port Harcourt, where formal rental arrangements are standard. It must comply with both federal legislation such as the Recovery of Premises Act and relevant state-specific tenancy laws. The document serves to protect all parties' interests by clearly defining roles, responsibilities, and remedies available under Nigerian law.
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1. Parties: Identification of the Landlord, Tenant, and Guarantor including full names, addresses, and contact details
2. Background: Brief context of the agreement and property letting
3. Definitions: Definitions of key terms used throughout the agreement
4. Demise: Description of the property being let and the term of the tenancy
5. Rent and Payment Terms: Rental amount, payment schedule, method of payment, and review provisions
6. Security Deposit: Amount, payment terms, and conditions for return of the security deposit
7. Guarantor's Obligations: Detailed obligations and extent of the guarantor's liability
8. Tenant's Obligations: Comprehensive list of tenant responsibilities including maintenance, use of premises, and conduct
9. Landlord's Obligations: Detailed responsibilities of the landlord regarding property maintenance and services
10. Utilities and Services: Responsibility for payment and maintenance of utilities and services
11. Insurance: Requirements for insurance coverage by both parties
12. Access and Inspection: Conditions under which the landlord may access the property
13. Termination: Circumstances and procedures for ending the tenancy
14. Notices: Process for serving formal notices between parties
15. Governing Law: Specification of Nigerian law as governing law and jurisdiction
1. Sub-letting and Assignment: Include when sub-letting or assignment might be permitted under specific conditions
2. Furnished Property Provisions: Include when the property is let furnished with inventory
3. Pet Provisions: Include when pets are allowed or specifically prohibited
4. Special Use Conditions: Include for properties with specific use restrictions or requirements
5. Break Clause: Include when early termination options are offered
6. Rent Review Mechanism: Include when specific rent review procedures are required
7. Multiple Occupancy Rules: Include for properties shared by multiple tenants
8. Property Management Company: Include when a management company is involved in property administration
1. Schedule 1: Property Description: Detailed description of the property including boundaries and included fixtures
2. Schedule 2: Inventory: Detailed list of furnishings and their condition if property is furnished
3. Schedule 3: Service Charges: Breakdown of any additional service charges and maintenance fees
4. Schedule 4: House Rules: Specific rules and regulations for the property or building
5. Schedule 5: Guarantor's Details: Complete information about the guarantor including financial status
6. Appendix A: Property Photos: Photographic evidence of property condition at start of tenancy
7. Appendix B: Utility Readings: Initial utility meter readings at commencement of tenancy
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