Lease Guaranty
(Residential) (PA)

Summary

This lease guaranty template can be used in Pennsylvania to obligate one or more individual guarantors to guarantee a residential market-rate tenant's performance of lease obligations. This template includes practical guidance, drafting notes, and optional clauses. This template obligates the guarantor for both monetary and non-monetary defaults. It is intended for use by a landlord requiring a guaranty for a non-corporate tenant. The template is generally pro-landlord, but also contains drafting guidance for a guarantor's attorney. This template should not be used with a commercial lease, a rent-protected lease, or for a corporate guarantor of a residential tenant. This guaranty can be used in conjunction with the landlord's standard form of application for guarantors. (To ensure that a guarantor is financially sound, many landlords require all guarantors to complete a standard application.) For guidance on Pennsylvania residential lease agreements generally, see Residential Lease Agreements (PA). For a Pennsylvania residential lease agreement template, see Residential Lease (House or Apartment) (PA). For guidance on essential lease terms, see 13 Pennsylvania Transaction Guide--Legal Forms Scope. For more on lease guaranties generally, see 7A Current Leasing Law and Techniques--Forms § 7B.08.