Being a guarantor: a decision that commits your personal finances
Standing as a guarantor is not a formality — it's a real and binding financial commitment. If the tenant doesn't pay the rent, you'll have to pay instead. Not just for a few months — potentially for years of rent if an eviction procedure is lengthy. Before signing, honestly assess your financial capacity to absorb this risk.
Mandatory handwritten clauses — without them the act is void
The law requires very specific handwritten clauses in a guarantee deed. Without them, the deed is void and your commitment has no legal value. You must write by hand: the rent amount in figures and words, the conditions for rent revision, the duration of your commitment, and a specific clause stating that you can be pursued on the same basis as the tenant under a joint guarantee.
Simple guarantee vs joint guarantee: a major difference
With a simple guarantee, the landlord must first pursue the tenant before turning to you. With a joint guarantee — the most commonly requested form — the landlord can claim rent from you directly, without having to pursue the tenant first. Joint guarantees are far riskier for the guarantor. If you have a choice, prefer a simple guarantee.
How to limit your risk as a guarantor
You can negotiate protective safeguards: cap your commitment to a maximum amount or a limited duration, ask to be notified immediately of the first missed payment (before debts accumulate), and include a clause allowing the commitment to be reviewed if the tenant's situation changes radically. These clauses must be written into the guarantee deed.
Exiting a guarantee commitment
For an open-ended tenancy, you can terminate your guarantee commitment at the annual tenancy renewal, with 1 month's notice by recorded letter. Your termination only takes effect at the end of the current tenancy — you remain liable for all debts arising before the effective end of your commitment.