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Personal Guarantee Lease Agreement

Personal Guarantee Lease Agreement Template for Indonesia

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Key Requirements PROMPT example:

Personal Guarantee Lease Agreement

"I need a Personal Guarantee Lease Agreement for a commercial property in Jakarta, where the tenant is a new startup company and the CEO's parent company will act as guarantor, with the lease term starting March 1, 2025."

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Document background
The Personal Guarantee Lease Agreement serves as a crucial legal instrument in Indonesian property transactions where additional security is required beyond a standard lease agreement. This document is typically used when a property owner seeks extra assurance of rent payment and other tenant obligations, particularly in cases involving new businesses, students, or tenants with limited credit history. The agreement incorporates both lease terms and a personal guarantee component, ensuring compliance with Indonesian Civil Code and relevant property laws. It details the property specifications, rental terms, maintenance responsibilities, and the specific obligations of the guarantor, who legally commits to fulfilling the tenant's obligations if they default. The document is especially relevant in urban areas like Jakarta, Surabaya, and other major Indonesian cities where property values and rental stakes are higher.
Suggested Sections

1. Parties: Identification of the Lessor (property owner), Lessee (tenant), and Guarantor with their complete legal names and addresses

2. Background: Context of the lease agreement and the requirement for a personal guarantee

3. Definitions: Definitions of key terms used throughout the agreement including Property, Lease Period, Rental Amount, and Guarantee obligations

4. Lease Terms: Core terms of the lease including duration, rental amount, payment schedule, and permitted use of the property

5. Guarantee Provisions: Scope and extent of the personal guarantee, including the guarantor's obligations and liability limits

6. Property Details: Detailed description of the leased property and its condition

7. Rights and Obligations: Respective rights and obligations of the Lessor, Lessee, and Guarantor

8. Payment Terms: Details of rent, security deposit, utilities, and other financial obligations

9. Maintenance and Repairs: Responsibilities for property maintenance and repairs

10. Default and Remedies: Events of default and available remedies for all parties

11. Termination: Conditions and procedures for terminating the agreement

12. Governing Law: Specification of Indonesian law as governing law and jurisdiction

13. Execution: Signature blocks for all parties and witnessing requirements

Optional Sections

1. Insurance: Requirements for property insurance and liability coverage - include when the property value is significant or when required by local regulations

2. Subletting: Terms regarding subletting rights and restrictions - include when subletting might be considered

3. Force Majeure: Provisions for unforeseen circumstances - particularly relevant in areas prone to natural disasters or during uncertain times

4. Assignment: Rights and restrictions regarding assignment of the lease or guarantee - include for longer-term leases

5. Alterations and Improvements: Terms for making changes to the property - include for commercial properties or long-term residential leases

6. Dispute Resolution: Alternative dispute resolution procedures - include when parties prefer arbitration or mediation over court proceedings

Suggested Schedules

1. Property Schedule: Detailed description of the property including floor plans, boundaries, and included fixtures and fittings

2. Inventory List: List of furniture and equipment included in the lease, if any

3. Condition Report: Detailed report of the property's condition at the start of the lease

4. Payment Schedule: Breakdown of rent payments, due dates, and payment methods

5. Guarantor Financial Statement: Statement of the guarantor's financial position and ability to meet guarantee obligations

6. Maintenance Schedule: Schedule of regular maintenance responsibilities and timeframes

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
Clauses
Parties and Interpretation
Term and Renewal
Rental and Payment
Security Deposit
Personal Guarantee
Property Use and Access
Utilities and Services
Maintenance and Repairs
Alterations and Improvements
Insurance
Assignment and Subletting
Default and Remedies
Termination
Force Majeure
Notices
Representation and Warranties
Property Inspection
Tenant Obligations
Guarantor Obligations
Lessor Obligations
Indemnification
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Costs and Stamp Duty
Confidentiality
Registration
Compliance with Laws
Relevant Industries

Real Estate

Property Management

Residential Housing

Commercial Property

Retail

Hospitality

Industrial

Office Space

Student Housing

Relevant Teams

Legal

Real Estate

Property Management

Contracts Administration

Risk Management

Compliance

Facilities Management

Asset Management

Operations

Customer Relations

Relevant Roles

Property Manager

Real Estate Manager

Legal Counsel

Contract Administrator

Leasing Manager

Asset Manager

Property Developer

Real Estate Agent

Facilities Manager

Risk Manager

Compliance Officer

Housing Administrator

Tenant Relations Manager

Industries
Indonesian Civil Code (Kitab Undang-undang Hukum Perdata): Primary legislation governing contracts and civil law matters in Indonesia, particularly Book III on Obligations and Contracts, which provides the fundamental legal framework for lease agreements and personal guarantees
Law No. 8 of 1999 on Consumer Protection: Provides protection for tenants as consumers and sets requirements for fair contractual terms and conditions in lease agreements
Law No. 1 of 2011 on Housing and Settlement Areas: Regulates residential property matters including leasing of residential properties and related rights and obligations
Government Regulation No. 44 of 1994 on Housing and Settlements: Implements provisions related to housing and provides specific regulations regarding lease arrangements
Law No. 42 of 1999 on Fiduciary Security: Relevant for understanding the security aspects of personal guarantees in Indonesian law
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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