Rental agreement with guarantor: how does it work?


Renting a property is an excellent option for those who still cannot or do not want to commit to the purchase of a home. For the tenant and landlord's rights to be guaranteed, it is essential to document this process.

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In search of guarantees, the lease with a guarantor is highly sought after. In this alternative, the relationship is not only established between lessor and lessee. The guarantor appears as the third party and it is crucial for many businesses to be, in short, closed.

But do you know how it all works? The LAR Imóveis team prepared a guide to clarify your main doubts. Next, understand this contract better and prepare yourself in the right way!

After all, what is the guarantor?

The guarantor is a third party that forms part of the lease. It is not about who owns the property or who will use it.

This is the person who is responsible for the payment, in case the main interested party does not fulfill its obligations. In rent, the guarantor who bears the monthly expenses if the tenant is late or does not make the payment. In practice, it is a guarantee of compliance with the requirements set out in the document.

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Who can become a guarantor?

As the lease agreement with a guarantor is intended to provide protection, it is not anyone who can be the guarantor of the tenant. It is necessary to meet some requirements, so that the profile is approved.

First, it is mandatory that the individual has an asset. In general, it is common to demand ownership of a property already paid and in the same city where the rent will take place.

In addition, proof of income must be performed. Each real estate company displays its list of obligations. But as a rule, it requests 2 guarantors, one with a minimum income of twice the rent; and another that, in addition to income, has at least one property paid off. The guarantor can be an individual or a legal entity.

Necessary documents

  • identity card and CPF;
  • marriage or birth certificate;
  • proof of residence, income and certificate of real liens.

For legal entities, identification documents are those of legal representatives, in addition to business balance sheets.

What is its importance and its responsibilities?

Before entering into a lease with a guarantor, it is essential to understand that person's role in the document. This is a person responsible for ensuring the payment of the rent to the owner, so care must be taken in choosing.

If the tenant is unable to pay the rent, the guarantor may be sued to answer for the payment. The assumed debt has to be fulfilled, without prejudice to the owner of the property.

Depending on the situation, the person responsible may still have the assets pledged. The property given as collateral, may be taken to pay off the tenant's debt in certain scenarios. Therefore, it is essential that everyone involved understands the crucial role of this element in the document.

What are the advantages of the lease with a guarantor?

Above all, the existence of that person in the document brings an extra guarantee for the owner. This means that, after signing the digital or physical contract , there is security about receiving the monthly amounts.

What not everyone notices is that the tenant also benefits from this. First of all, it is a more accessible alternative, since there is no need to advance any amount when closing the deal.

In addition, the fact that the landlord has more security, helps to renegotiate conditions. It is easier to get discounts or features suitable for each need. Since the guarantor is obliged to comply with the payment, the owner can make a better offer.

What are the alternatives?

However, finding that piece is not always feasible. Many people decide not to enter into a rental contract with a guarantor, precisely because there is too much responsibility for the third party.

However, this does not mean having to enter into an agreement without any guarantee. There are good alternatives available that offer the same level of security and convenience for both parties. Next, find out the options for renting without a guarantor and understand how each one works:

Capitalization bond

The capitalization bond is one of the best alternatives for those who have no guarantor and want to rent a property. Basically, it is a credit security marketed by capitalization companies, whereby the acquirer can add capital for a predetermined period and / or receive prizes by drawing lots.

This lease guarantee has a very simple operation and without bureaucracy. The value of the security is variable, depending on the deposit required by the lessor. In general, the value is between six and twelve times the monthly rent. In case of delay or default by the tenant, the redemption by the lessor (owner of the property) is made and the debts are settled. Or, at the end, the value of the title will be returned to the lessee.

Surety bond

In surety bonds , the "guarantor" becomes an insurer. From the contract of a policy, the lessee makes the monthly discharge to cover the expenses with any delays or defaults. If necessary, the insurer itself carries out the eviction action.

The amount charged is around one to two rentals per year. If the rent is R $ 3 thousand, then the surety bond costs, on average, from R $ 3 thousand to R $ 6 thousand. This generates a payment of R $ 250 to R $ 500 per month.

Due to its advantages, the sport has grown. In Paraná, for example, 1 in 4 contracts is already guaranteed by this choice.

The lease with a guarantor offers an extra guarantee for the owner and benefits even for those who rent. If you do not want to use this modality, there are other alternatives that also bring good solutions.

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Source: Tajarat.com.pk

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