Guarantor on a Lease: Common Mistakes to Avoid in Ontario

Signing as a guarantor on a residential lease in Ontario creates serious legal and financial obligations. Many guarantors do not fully understand what they are agreeing to, and mistakes can lead to significant financial liability.

What Is a Lease Guarantor?

A lease guarantor is a third party (often a parent or employer) who agrees to pay rent and cover damages if the tenant fails to do so. Guarantors are personally liable for the full amount of unpaid rent and property damage up to the limit specified in the guarantee agreement.

Common Guarantor Mistakes

Common mistakes include signing an unlimited guarantee, failing to read the full lease, not understanding the extent of liability, not limiting the guarantee period, and not seeking legal advice before signing.

Protect Yourself

Before signing as a guarantor, consult with a licensed paralegal to understand your obligations. Contact Defend-it Legal Services at (289) 275-3513 or book a consultation.