What is a Guarantor in Commercial Leases? скачать в хорошем качестве

What is a Guarantor in Commercial Leases?

This video examines the issue of whether you should obtain a guarantee in a commercial lease. 00:00 Intro 00:09 Guarantor EXPLAINED 00:49 Pros and Cons 01:58 Resources Click here to learn more ⏩ https://www.rpemery.com.au/articles/g... Visit our website to view our extensive range of contracts ⏩ https://www.rpemery.com.au/ Click here to access down-to-earth information on the business, real estate, and personal legal issues ⏩ https://www.rpemery.com.au/blog/index... ✅ Professionally drafted by Australian Lawyers. ✅ RP Emery, demystifying the law and making legal solutions affordable. ------------------------------------------------------------------- 📃TRANSCRIPT: Hello, I’m Nadia MacLeod from RP Emery Legal Kits, and we help you cut your legal costs with our online template kits. Guarantors are the people or legal entities who agree to be responsible for the tenant's debts, should they default on the terms of the lease. Whether you need a guarantor will ultimately depend on the type of tenant leasing the commercial or retail space. If a tenant is leasing the premises in their own name, personal guarantees are less likely to be required. By contrast, where a company is a tenant, landlords will usually insist on a personal guarantee by its directors or shareholders. This is due to the limited liability of the company. There are both pros and cons associated with this kind of arrangement. Personal guarantees are potentially more time-consuming and costly to enforce. Therefore, negotiating a larger security deposit instead of a personal guarantee may be a more attractive option to landlords. Should things go sour, security deposits are much easier for a landlord to access. However, they also carry the risk of being insufficient to cover all of the landlords’ losses given their limited amount. In the global scheme of things, landlords are generally best served by obtaining a guarantee as well as a security deposit. By having both options in play, the landlord will have ample scope to recover any losses that may occur in the event of a breach or early termination. ------------------------------------------------------------------- RP Emery & Associates is an internet-based legal publishing service. Since 1990 we've worked with lawyers to provide the business community and individuals with professionally drafted, ready-made single contract templates and contract template kits. Whether you’re looking for contracts for general business, employment, real estate, leasing, or financial agreements. RP Emery offers you a cost-effective legal solution that you can access from the comfort of your own home or office any time of the day or night. ------------------------------------------------------------------- This video is for informational purposes only and is not intended to constitute legal advice. Any viewer making use of this information does so at his/her own risk. Viewers are advised to take independent professional advice before acting on any of the information or materials found here. We will not be liable for any losses and damages in connection with the use of our videos. #whatisaguarantor #commerciallease #rpemerylegalkits5