Guarantor Deed Notes

Please read these important notes before completing the Deed of Guarantee

 

6. No Fixed Maximum Liability

There is no fixed maximum monetary amount that a guarantor may be required to pay under the Deed. While the monthly rent is known in advance, other sums, such as compensation for damage, cleaning, legal costs or other losses, cannot be predetermined.​

 

7. Examples of Previous Compensation
Although compensation is often not required at the end of the tenancy, examples of previous charges include:
a) Cleaning the property to the original check-in standard
b) Replacing a stained mattress
c) Replacing missing keys, including fitting new locks
d) Repairing or replacing damaged or missing furniture

These are examples only and do not indicate that such costs will necessarily arise under this tenancy.

 

8. Duration of the Guarantee, Tenant Leaving Early and Replacement Tenants

Your obligations start on the commencement date of the tenancy and continue through any variations, continuations or renewals of the tenancy while the Guaranteed Tenant remains a party to it. The guarantee cannot be revoked by the Guarantor. If the Guaranteed Tenant leaves the tenancy early, the Guarantor is not automatically released from liabilities that arose before the tenancy ended. Such liabilities remain payable under the Deed, even if they are only identified after the tenancy has ended.

 

If the Guaranteed Tenant leaves the tenancy and is replaced, the guarantee will only end in accordance with the terms of the Deed. Any replacement tenant must be approved by the remaining tenants and landlord and the relevant tenancy arrangements must be completed. Your obligations end when the tenancy is formally brought to an end, the Guaranteed Tenant has vacated the property and all outstanding obligations have been discharged.