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A good guy clause, typically found in rental agreements in New York City, is a provision that allows a tenant to be released from the liability of completing the agreed upon rental period, assuming the tenant vacates the rented space and leaves it in favorable condition.
A good guy clause, typically found in rental agreements in New York City, is a provision that allows a tenant to be released from the liability of completing the agreed upon rental period, assuming the tenant vacates the rented space and leaves it in favorable condition.
Its a legal clause that if for any reason the tenant becomes unable to continue paying rent for the space, that tenant will give the landlord proper notification (usually three months notice), vacate the premises, and pay all rental fees up until the date of departure.
A good guy clause is a limited personal guarantee. The distinction between a good guy clause and a traditional/full personal guarantee is that in a good guy clause an individuals personal liability ends when the space is vacated.
Its a legal clause that if for any reason the tenant becomes unable to continue paying rent for the space, that tenant will give the landlord proper notification (usually three months notice), vacate the premises, and pay all rental fees up until the date of departure.
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Designed mainly to reduce holdover and squatting risk for landlords, the good guy guarantee ensures that landlords are protected in the event a tenant cannot pay the rent for the remainder of the lease. Good guy guarantees are typically requested during lease negotiations following review of proposed Tenant Financials.

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