Are there any laws governing the use of a third-party guarantor?

In Florida, there are laws that govern the use of a third-party guarantor in a landlord-tenant relationship. A third-party guarantor is a person or entity who agrees to be responsible for payment of a tenant’s rent in the event that the tenant fails to pay for it. Typically, the landlord will require the tenant to secure a third-party guarantor in order to be approved for a lease. Under the Florida Landlord and Tenant Act, landlords are not allowed to require guarantors unless they have a prior written agreement with the tenant that covers the amount to be guaranteed and the conditions under which the guarantor’s liability will be discharged. The tenant must also be informed of the terms of their guarantee in writing. The tenant and guarantor have certain rights and responsibilities under Florida law. For example, the guarantor may be held liable for any unpaid rent or other damages caused by the tenant’s breach of the lease. The landlord may also seek legal action against the guarantor if the tenant fails to pay rent or damages. However, if the tenant pays the proper amount of rent and any damages due, the guarantor will be released from liability. In short, landlords in Florida can require tenants to obtain a third-party guarantor, but they must abide by the rules set out by the Florida Landlord and Tenant Act. Both the tenant and guarantor have certain rights and responsibilities under the law.

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Are there any laws governing the use of a third-party guarantor?

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