Document background
The Guarantee Rental Agreement is a crucial document in Canadian property management, commonly used when landlords require additional security beyond a standard lease agreement. This document is particularly relevant for situations involving student rentals, first-time tenants, or tenants with limited credit history. The agreement, governed by provincial/territorial residential tenancy laws and contract law, establishes a legally binding commitment from a guarantor (often a parent, relative, or corporate entity) to assume responsibility for rent payments and other tenant obligations in case of default. The document must carefully balance the interests of all parties while ensuring compliance with relevant Canadian legislation, including provincial residential tenancy acts and human rights codes.
