Document background
The Rental Guarantor Letter is a crucial document in the Philippine rental market, commonly used when a property owner requires additional security beyond the tenant's own credentials. This document becomes particularly relevant in situations involving student rentals, first-time renters, or individuals with limited credit history. The letter, governed by Philippine civil law, specifically Articles 2047-2084 of the Civil Code regarding guarantees, establishes the guarantor's legal obligation to cover the tenant's rental payments and other lease obligations if the tenant fails to do so. It typically includes detailed information about all parties involved, the property, the terms of the guarantee, and the extent of the guarantor's liability. The document must comply with local requirements for guarantees and may need notarization to ensure enforceability.
