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What It Costs To Secure An Apartment with Paris RentalDownload your free guide here
Updated on 19th of February, 2020
A Guarantor stands surety for the Landlord and guards against a possible breach of his tenant to its payment obligations.
A Guarantor is a person who undertakes to pay the lessee's debts such as rent, maintenance charges or rental degradations, if the latter does not settle them himself. It is mandatory the the deed of guarantee be written.
The Joint Surety of the Guarantor may be concluded by an authentic deed; however, most of the time this document is written under private seal.
a statement that makes it clear that the guarantor is aware of the nature and extent of his commitment
the nature of the commitment (simple or joint guarantee)
Explanation: A simple guarantee only binds the Guarantor if the lessee is absolutely unable to pay his debts, while a joint guarantee allows the landlord to request the Guarantor to ensure payment from the first unpaid rent without seeking to know the solvency of his tenant.
Precision: A commitment period may also be defined; in this case, the Guarantor can not withdraw his surety before term.
Anyone in the family, friend or acquaintance can vouch. However, in order to fulfill his commitment, a Guarantor must have sufficient income (between 3 and 4 times the amount of the rent). The owner may ask the Guarantor for photo identification and his last 3 payslips, but he is not legally entitled to request bank statements from the Guarantor.
If the owner has taken out insurance for unpaid rent, the law forbids him to ask for a “joint surety” from his tenant.
The unpaid rent insurance is a safe solution, but it involves a fee for the owner (between 2.75% and 4.5% of the amount of rent including charges, depending on the insurance company).
Please find the letter template on Paris Rental's website
This template is for anyone who intends to become a guarantor, simple or solidary, to anyone else.