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Updated 8 months ago on . Most recent reply
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Is an individual guarantor necessary when leasing to a company?
We have a condo we're looking at leasing to a company for their employee. The company will sign the lease, with the employee listed as the tenant. Do we need a guarantor listed as well? The company's legal counsel has said a guarantor is not needed, citing the company's annual revenue and an employee, effectively, being unwilling to cut a check on behalf of their employer. While I understand that, my understanding and what our own attorney has confirmed, is that there should be an individual who serves as the guarantor in this type of instance. Thoughts?