Tenancy Agreement With Guarantor Template for Philippines

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.

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