Document background
The Lease Guarantor Form is a crucial document in Irish property leasing arrangements, commonly used when additional security is required beyond the tenant's own covenant. This document becomes particularly relevant in situations involving student rentals, first-time tenants, or when a tenant's financial standing alone doesn't meet the landlord's requirements. The form, governed by Irish law and complying with the Residential Tenancies Act 2004, creates a legally binding commitment from a third party (guarantor) to assume the tenant's obligations if they default. It typically includes detailed provisions about the scope of guarantee, duration, enforcement mechanisms, and the specific circumstances under which the guarantor's obligations can be triggered. The document serves as a risk management tool for landlords while providing clear parameters for guarantors' responsibilities.
