How to Write a Guarantor Letter for Rental (With Free Samples)
When it comes to a rental business, the owner of the business will always need a guarantor letter from someone that will take responsibility of financial lapses. This is because the renter might want to forfeit on a contract, of course there should be someone to bear the financial burden. Example a house owner might need a guarantor letter from a would-be tenant, if they realize that the tenant would be finding it difficult to pay rent due to low income. So as a guarantor, you would need to understand the terms involved then draft a formal letter that will solidifies the terms of agreement. This is where the guarantor letter for rental comes in.
Guarantor letter for rental is a letter of assurance written on behalf of another person to a recipient to take responsibility of a financial obligations in case of a default in housing (mortgage or a house) rent payment. The essence is to assure the recipient that there should be no doubt about a renter of their property. It helps give the recipient the name of the person to be held responsible in case the housing agreement isn’t upheld by the primary person involved. The guarantor letter will be a kind of protection on the property owner to recoup the money involved in case of any negative issues
Writing an effective guarantor letter for rental will need you employing the right tone, features and elements to make the letter properly written and worded. The below writing tips and guide should be reviewed and used when writing this kind of letter.
- First you need to read the requirement to be sure you stand the chance of being a guarantor as the requirements are stiffer now. Know the person you are guaranteeing and be sure the person would always be able to pay
- Then start the letter with your name & address, date the letter, then address to the landlord name and address
- State your relationship with the person you are writing on behalf
- State that you would financially responsible for payment if there’ any outstanding debt, then mention when you would stop being the guarantor. If possible state what you would be responsible for
- Make it known that the responsibility have been accepted by you, you can ask the landlord to make a research about you
- Then signoff your letter by writing your name and signing beneath it
Below are the samples of guarantor letter for rental
2345 Goldie Street, San Diego
San Diego, USA
This is a letter of personal guarantee on behalf of my friend Adolf Brain for the payment of your house rent that is situated at 23455 Palms Avenue, San Diego. I have known Brain for about 4 years now and I know that he keeps to his words, so you should have confidence in him. With this note its an assurance that Brain will be able to pay you your agrreable rent when due. But as always, if he ever defaults in payment, I am always ready to take the full responsibility of making this payment and in full.
I will write that you should count on my words that rent would be paid with no hesitation. If you care to know I have a credit rating that is very high and I wouldn’t mind to forward it to you if you deem necessary. This agreement is to be valid until I state otherwise. if there is any information you would ever need, please feel free to contact me on 768-556-879 or shot a mail at email@example.com
Thanks for your time and understanding
223 Landy road, Hartford
12th June 2011
111 haven street, Stamford,
I am Mason William, a cousin to Michael Jacob and I’m writing this guarantee letter on his behalf. He is to pay for your house situated at Haven Street, Stamford and I want to tell you to go ahead and get the rent. I can assure you that Jacob is a worthy young fellow and will always be able to pay his rent as agreed. You don’t need to doubt the possibility of him living up to expectation financially because he will be able to pay. But if he doesn’t then I’m willing to pay in full all outstanding rent
My credit score is up to par and will love you to take a look at it, so if you think you would want to view it, then alert me about it and I will oblige accordingly. This agreement will be valid from now since the 12th Feb 2015. If you are still in doubt and what to be cleared of all information, then you can reach me on 444-555-666 or shot a mail at firstname.lastname@example.org. I will more than willing to attend to all your queries.
Thank you for your understanding and positive response
When approached by anyone to be their guarantor for rental, you must make your findings and be sure you would be able to stand up to the financial responsibility if there’s a default. So if you are okay then you can write the guarantor letter on behalf of the person. The guarantor letter will aid you in spelling out what you would responsible for and how long you would be doing it. The right format to adopt has been outlined above. You have to review them all and take on each of them into your letter as you would have in your letter all the information that will interest the recipient.
The samples letters have also been written for your use, you just have to study them to understand before writing yours. They serve as templates you don’t have to copy them verbatim, use them to craft yours to perfection.