To be a guarantor for a tenant is to commit to paying his debts if he stopped paying his rent. It is, therefore, a serious commitment of consequence, and not a simple clause of style that is worn at the bottom of a contract to serve a parent or a friend.

You Might Ask if a Lessor Requires the Tenant to Post a Deposit?

Unlike the seller or the service provider who has to satisfy all his clients, the lessor freely chooses his tenants, on the sole condition that he does not discriminate by refusing candidates because of their origin, their sex, their family situation, their pregnancy, their physical appearance, the particular vulnerability resulting from their economic situation, apparent or known to their author, their surname. He may, therefore, require that his tenant present financial guarantees including a deposit.

However, the lessor cannot ask for security in two cases:

·      If he has taken out insurance, or any other form of guarantee, guaranteeing the rental obligations. However, the prospective tenant cannot check whether the lessor has taken out or will subscribe to such insurance. The request for a deposit remains possible if the tenant is a student or apprentice.

·      If it is a legal person (other than a civil society constituted exclusively between parents and allies up to the fourth degree included).

How Does a Bond Act Occur?

A simple mention at the bottom of the contract such as “good surety” does not bind the signatory. The law imposes a very rigorous formalism. The act can validly be carried on the lease itself, but it is most often in the form of a separate document. It can also be done by notarial deed. The formalism is more important for a bond given by private agreement than for a bond given by an authentic deed.

A Written Text from the Hand of the Surety

Verbal commitments are worthless; this means that parents cannot act as a surety to their children. Contact California Tax Preparer Bond to understand better what we are stating.