A landlord may request a principal of a tenant or an affiliated entity to guarantee lease obligations if the prospective tenant has a less-than-ideal credit profile. In a tenant-friendly market, few landlords will be successful in this pursuit. Consequently, a savvy landlord may request a sufficient security deposit, plus a limited or “Good Guy” Guaranty … Continue Reading
When landlords negotiate amendments or extensions of leases with existing tenants, it can be easy to overlook a very simple but important part of the documentation process: the reaffirmation of an existing guaranty of lease. A reaffirmation of guaranty from a guarantor of the tenant’s obligations under a lease can be as simple as … Continue Reading