The Personal Guarantee Lease Agreement serves as a crucial legal instrument in Indonesian property transactions where additional security is required beyond a standard lease agreement. This document is typically used when a property owner seeks extra assurance of rent payment and other tenant obligations, particularly in cases involving new businesses, students, or tenants with limited credit history. The agreement incorporates both lease terms and a personal guarantee component, ensuring compliance with Indonesian Civil Code and relevant property laws. It details the property specifications, rental terms, maintenance responsibilities, and the specific obligations of the guarantor, who legally commits to fulfilling the tenant's obligations if they default. The document is especially relevant in urban areas like Jakarta, Surabaya, and other major Indonesian cities where property values and rental stakes are higher.
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1. Parties: Identification of the Lessor (property owner), Lessee (tenant), and Guarantor with their complete legal names and addresses
2. Background: Context of the lease agreement and the requirement for a personal guarantee
3. Definitions: Definitions of key terms used throughout the agreement including Property, Lease Period, Rental Amount, and Guarantee obligations
4. Lease Terms: Core terms of the lease including duration, rental amount, payment schedule, and permitted use of the property
5. Guarantee Provisions: Scope and extent of the personal guarantee, including the guarantor's obligations and liability limits
6. Property Details: Detailed description of the leased property and its condition
7. Rights and Obligations: Respective rights and obligations of the Lessor, Lessee, and Guarantor
8. Payment Terms: Details of rent, security deposit, utilities, and other financial obligations
9. Maintenance and Repairs: Responsibilities for property maintenance and repairs
10. Default and Remedies: Events of default and available remedies for all parties
11. Termination: Conditions and procedures for terminating the agreement
12. Governing Law: Specification of Indonesian law as governing law and jurisdiction
13. Execution: Signature blocks for all parties and witnessing requirements
1. Insurance: Requirements for property insurance and liability coverage - include when the property value is significant or when required by local regulations
2. Subletting: Terms regarding subletting rights and restrictions - include when subletting might be considered
3. Force Majeure: Provisions for unforeseen circumstances - particularly relevant in areas prone to natural disasters or during uncertain times
4. Assignment: Rights and restrictions regarding assignment of the lease or guarantee - include for longer-term leases
5. Alterations and Improvements: Terms for making changes to the property - include for commercial properties or long-term residential leases
6. Dispute Resolution: Alternative dispute resolution procedures - include when parties prefer arbitration or mediation over court proceedings
1. Property Schedule: Detailed description of the property including floor plans, boundaries, and included fixtures and fittings
2. Inventory List: List of furniture and equipment included in the lease, if any
3. Condition Report: Detailed report of the property's condition at the start of the lease
4. Payment Schedule: Breakdown of rent payments, due dates, and payment methods
5. Guarantor Financial Statement: Statement of the guarantor's financial position and ability to meet guarantee obligations
6. Maintenance Schedule: Schedule of regular maintenance responsibilities and timeframes
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