The Guarantor Tenancy Agreement is essential in situations where additional security is required beyond a standard rental deposit in Austria. This document is commonly used for student accommodations, first-time renters, or situations where the tenant's financial credentials alone may not satisfy the landlord's requirements. The agreement combines elements of both tenancy and guarantee law, ensuring compliance with the Austrian Tenancy Act (Mietrechtsgesetz) and the Austrian Civil Code (ABGB). It provides comprehensive protection for landlords while clearly defining the extent of the guarantor's liability and the conditions under which it can be enforced. The document is particularly relevant in urban areas like Vienna, Graz, and Salzburg, where rental markets are competitive and guarantors are frequently required as additional security.
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1. Parties: Identification of all parties: Landlord, Tenant, and Guarantor, including full legal names, addresses, and any registration numbers for corporate entities
2. Background: Context of the agreement, explaining the rental arrangement and the need for a guarantor
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Detailed description of the rental property, including address and any included fixtures/fittings
5. Tenancy Terms: Core terms of the tenancy including duration, rent amount, payment terms, and deposit requirements
6. Guarantor Obligations: Detailed description of the guarantor's obligations, extent of liability, and duration of the guarantee
7. Scope of Guarantee: Specific details of what the guarantee covers (rent, damages, other costs)
8. Duration of Guarantee: Term of the guarantee, including any conditions for termination
9. Landlord's Obligations: Responsibilities and obligations of the landlord
10. Tenant's Obligations: Responsibilities and obligations of the tenant
11. Default and Remedies: Procedures in case of default by tenant and enforcement against guarantor
12. Notices: Requirements for formal communications between parties
13. Governing Law: Confirmation of Austrian law governance and jurisdiction
14. Signatures: Execution blocks for all parties with Austrian legal requirements for valid execution
1. Bank Guarantee Provisions: Required if the guarantee is provided by a bank rather than an individual
2. Multiple Guarantors: Additional provisions needed when there is more than one guarantor, defining joint and several liability
3. Corporate Guarantor Provisions: Special provisions required when the guarantor is a company rather than an individual
4. Foreign Language Declarations: Required when any party is not fluent in German, confirming understanding of terms
5. Property Management: Required when a property management company is involved in managing the property
6. Guarantee Limitation: Optional caps or limitations on the guarantor's liability if agreed by the parties
1. Schedule 1 - Property Inventory: Detailed inventory of the property's contents and condition at the start of tenancy
2. Schedule 2 - Property Rules and Regulations: Building or property-specific rules and regulations
3. Schedule 3 - Guarantor Financial Information: Confidential schedule containing guarantor's financial information and proof of means
4. Schedule 4 - Utility and Service Agreements: Details of utility arrangements and service charges
5. Schedule 5 - Maintenance Schedule: Details of maintenance responsibilities and schedules
6. Appendix A - Form of Notice: Template forms for formal notices under the agreement
7. Appendix B - Payment Schedule: Detailed breakdown of all payments including rent, deposits, and other charges
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