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Rental Guarantee Form

Rental Guarantee Form Template for Austria

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Key Requirements PROMPT example:

Rental Guarantee Form

"I need an Austrian Rental Guarantee Form for a commercial property in Vienna, where a bank will provide a guarantee of €50,000 to secure a 5-year lease starting March 2025, with specific provisions for quarterly rental payments and annual indexation."

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Document background
The Rental Guarantee Form is a critical document in Austrian property rental transactions, providing landlords with security against tenant default while complying with Austrian legal requirements. It is typically used when entering into new rental agreements or when replacing existing security arrangements. The document details the guarantee amount (usually equivalent to several months' rent), specifies the guaranteed obligations, and outlines the process for making claims. The guarantee can be issued by either a bank (Bankgarantie) or an individual guarantor (Bürgschaft), with different legal considerations applying to each type. The form must comply with various Austrian regulations, including the Civil Code (ABGB), Tenancy Act (Mietrechtsgesetz), and when applicable, the Consumer Protection Act (Konsumentenschutzgesetz). This document is essential for protecting landlords' interests while providing clear parameters for all parties involved in the rental arrangement.
Suggested Sections

1. Parties: Identification of the Guarantor, Landlord (Beneficiary), and reference to the Tenant

2. Background: Reference to the underlying rental agreement and the purpose of the guarantee

3. Definitions: Key terms used in the guarantee form including 'Guaranteed Obligations', 'Rental Agreement', 'Guarantee Period'

4. Guarantee Amount: Specific sum being guaranteed, typically equivalent to several months' rent

5. Scope of Guarantee: Detailed description of what obligations are covered by the guarantee

6. Duration: Term of the guarantee, including start date and conditions for termination

7. Demand Requirements: Process and conditions under which the guarantee can be called upon

8. Payment Terms: Timeframe and method for payment upon valid demand

9. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction

Optional Sections

1. Bank Details: Required when the guarantee is issued by a banking institution, including specific bank identification and processing information

2. Multiple Guarantors Clause: Used when more than one guarantor is providing the guarantee, defining joint and several liability

3. Release Conditions: Optional detailed conditions for releasing the guarantee beyond the standard termination of the rental agreement

4. Assignment and Transfer: Include when the guarantee needs to be transferable or when assignment rights need to be specifically addressed

5. Notice Requirements: Added when specific notification procedures between parties need to be established beyond standard demand requirements

Suggested Schedules

1. Schedule 1 - Rental Agreement Details: Copy or key details of the underlying rental agreement including property address, rental amount, and term

2. Schedule 2 - Form of Demand: Template for making a valid demand under the guarantee

3. Appendix A - Required Documentation: List of documents required for guarantee activation or release

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Banking & Financial Services

Property Management

Residential Housing

Commercial Property

Retail

Hospitality

Industrial

Relevant Teams

Legal

Real Estate

Property Management

Risk Management

Compliance

Customer Relations

Contract Administration

Asset Management

Relevant Roles

Real Estate Manager

Property Manager

Legal Counsel

Leasing Manager

Banking Officer

Guarantee Officer

Risk Manager

Compliance Officer

Real Estate Agent

Tenant Relations Manager

Asset Manager

Contract Administrator

Industries
Austrian Civil Code (ABGB): Primary source of civil law in Austria, particularly §§ 1090-1121 governing rental agreements and related guarantees
Austrian Tenancy Act (Mietrechtsgesetz - MRG): Specific regulations for residential and commercial rentals, including provisions for security deposits and guarantees
Austrian Consumer Protection Act (Konsumentenschutzgesetz - KSchG): Relevant when the rental guarantee is provided by a private individual (consumer) rather than a business entity
Austrian Banking Act (Bankwesengesetz - BWG): Applicable when the guarantee is issued by a banking institution, governing the formal requirements for bank guarantees
Austrian Stamp Duty Act (Gebührengesetz): Regulations regarding stamp duties and fees applicable to rental guarantees and related documents
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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