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Guaranty or Guarantee of Payment of Rent - Rhode Island

Guaranty or Guarantee of Payment of Rent - Rhode Island 2026

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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 the Guaranty of Payment of Rent in the editor.
Begin by entering the date on the first line, indicating when the agreement is being made.
Fill in the name of the Lessor and Guarantor in the designated fields. Ensure accuracy as these parties are crucial to the agreement.
Specify the Lessee's name and address, ensuring it matches the Lease Agreement referenced.
Input the monthly rent amount and total guaranty amount in their respective fields, reflecting what is outlined in your Lease Agreement.
Provide Guarantor’s address clearly, as this will be used for any notices regarding payment failures.
Review all entries for accuracy 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 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 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.

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 is the guarantor clause for rent?

A guarantor is someone who agrees to pay your rent if you dont pay it, for example a parent or close relative. If you dont pay your landlord what you owe them, they can ask your guarantor to pay instead. If your guarantor doesnt pay, your landlord can take them to court.

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.

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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.

What are the renters rights in Rhode Island?

A rental guarantee is an agreement between the investor and the developer that ensures a set rental income over a specified period of time in the event that the property remains vacant after purchase.

Guaranty or Guarantee of Payment of Rent - Rhode Island 2026

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