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Guaranty or Guarantee of Payment of Rent - Idaho

Guaranty or Guarantee of Payment of Rent - Idaho 2025

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This document is a Guaranty of Payment of Rent agreement between a Lessor and a Guarantor, ensuring that the Guarantor will cover rent payments owed by the Lessee under a specified Lease Agreement. It outlines the responsibilities of the Guarantor in case of non-payment by the Lessee, including timelines for payment after notice and conditions under which the Lease may be terminated.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the date at the top of the form where indicated. This is essential for establishing the timeline of the agreement.
Fill in the name of the Lessor and Guarantor in the respective fields. Ensure accuracy as these parties are legally bound by this agreement.
Specify the Lessee's name, which is crucial for identifying who is responsible for rent payments under the Lease Agreement.
Indicate the monthly rental amount and total guaranty amount. These figures should reflect what is stated in your Lease Agreement.
Provide the Guarantor’s address clearly, as this will be used for any necessary notifications regarding payment failures.
Review all sections carefully to ensure that all information is correct before signing. Both Lessor and Guarantor must sign and date at the bottom of the form.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a guarantee when renting?

A guarantor on a lease acts as a financial safety net for renters, stepping in to cover costs if the tenant cant pay. Guarantors are often required for renters with poor or no credit history, low income, or in highly competitive rental markets.

What is a guarantee payment for rent?

In a guaranteed rent arrangement, a property management company agrees to pay the landlord a fixed monthly rent for a specified period, usually one year.

What does guarantee mean in rent?

Fundamentally, a rent guarantee involves the promise to pay a guaranteed level of rent irrespective of what the tenant pays. The value of a rent guarantee depends entirely on the terms of such a rent guarantee and who its being issued by.

What are the cons of guaranteed rent?

You Lose Control Over Your Property Many companies offering guaranteed rent dont actually manage your propertythey sublease it at a higher rate and pocket the difference. Often, you wont even know who is living in your unit.

Is rent guarantee insurance worth it for landlords?

Landlords dont need rent guarantee insurance, but its a great product to protect you if youre renting to individuals with poor credit history or unsteady work, but even then the insurance company must approve them. Its not cheap, either.

What are the renters rights in Idaho?

A lease guaranty is a contract between an individual or entity (guarantor) that is typically related to the tenant. The guarantor promises to pay the landlord any and all payments due under the lease in the event the tenant defaults under its lease obligations and otherwise cure the tenants defaults.

Guaranty or Guarantee of Payment of Rent - Idaho 2025

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