Guarantors

Par Hélène Baratte le 10/3/2011 | Theme : Regulations

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I’ve always said, along with religion and politics, guarantors are one of those difficult subjects to address. As no-one is immune from an everyday accident that could lead to money being taken off their deposit, being a guarantor is not to be taken lightly.
The rights of the guarantor

The guarantor must be informed at least once a year by the landlord of any changes to the debt (ex.: rent increases)due par tenant, the main debtor, otherwise the guarantor shall not be held liable for any penalties and late payment interest.

In the case of a tenancy governed by the law of 6 July 1989, the guarantor must also be notified of the payment order sent to the tenant in the event of unpaid rent: the landlord must inform the guarantor the first time that the tenant fails to pay and within 15 days after sending the payment order to the tenant. Failing this, the guarantor shall no longer be liable for any penalties or late payment interest.

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