The Tenancy Agreement With Guarantor is a vital legal instrument used in the Philippine real estate market when additional security is required beyond a standard lease agreement. This document is particularly relevant when dealing with tenants who may have limited credit history, students, new businesses, or in high-value property rentals where the landlord seeks extra financial protection. The agreement is structured to comply with Philippine civil law and rental regulations, incorporating all necessary elements required by local legislation including the Civil Code of the Philippines and the Rent Control Act. It establishes the rights and obligations of the landlord, tenant, and guarantor, with the guarantor providing a legally binding commitment to fulfill the tenant's obligations if they fail to do so. The document is commonly used in both residential and commercial contexts, offering protection to landlords while facilitating rental opportunities for tenants who might otherwise struggle to secure a lease.
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1. Parties: Identifies and provides full details of the Landlord, Tenant, and Guarantor, including their legal names, addresses, and contact information
2. Background: Brief context explaining the intention to create a tenancy and the role of the guarantor
3. Definitions: Defines key terms used throughout the agreement including Property, Term, Rent, Security Deposit, and other relevant terms
4. Grant of Lease: Formal statement of the landlord granting tenancy to the tenant for the specified property
5. Term and Renewal: Specifies the duration of the tenancy, start date, end date, and any renewal options
6. Rent and Payment Terms: Details the rent amount, payment schedule, method of payment, and consequences of late payment
7. Security Deposit: Specifies the amount, terms of holding, and conditions for return of the security deposit
8. Guarantor's Obligations: Details the scope and extent of the guarantor's responsibilities and liability
9. Use of Property: Specifies permitted use of the property and any restrictions
10. Utilities and Services: Allocates responsibility for utility connections, payments, and maintenance
11. Maintenance and Repairs: Outlines responsibilities for property maintenance, repairs, and improvements
12. Insurance: Specifies required insurance coverage and responsibilities of each party
13. Default and Remedies: Details what constitutes default and the available remedies for each party
14. Termination: Specifies conditions and procedures for early termination
15. Notices: Specifies how and where formal notices must be delivered
16. Governing Law: Confirms the agreement is governed by Philippine law and specifies jurisdiction
17. Execution: Signature blocks for all parties and witnessing requirements
1. Pets: Required if pets are allowed, specifying conditions and additional deposits
2. Subletting: Include if subletting is permitted, detailing conditions and approval process
3. Property Management: Include if a property manager is involved, specifying their role and authority
4. Furniture and Fixtures: Required if the property is furnished, listing included items
5. Special Amenities: Include if the property includes special amenities like parking, storage, or recreational facilities
6. Business Use: Required if any business activities are permitted on the premises
7. Force Majeure: Optional clause addressing unforeseeable circumstances, particularly relevant post-COVID
8. Common Areas: Required for properties in multi-unit buildings or complexes
1. Schedule 1 - Property Description: Detailed description of the property including address, boundaries, and included areas
2. Schedule 2 - Inventory: Detailed list of furniture, appliances, and fixtures if furnished
3. Schedule 3 - Property Condition Report: Detailed report of property condition at commencement of tenancy
4. Schedule 4 - House Rules: Building or complex rules and regulations if applicable
5. Schedule 5 - Payment Schedule: Detailed breakdown of rent, deposits, and other payments
6. Schedule 6 - Maintenance Schedule: Schedule of regular maintenance tasks and responsibilities
7. Appendix A - Required Notices: Copies of mandatory notices required under Philippine law
8. Appendix B - Insurance Requirements: Detailed insurance requirements for all parties
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