Skip to main content

Scope of the lease guarantee liability

New York, NY |

I am guaranteeing a lease for a friend of mine. Is my liability limited to the extend of the lease payments or am I liable for things like damage, torts, etc?
What kind of insurance should I ask my friend to buy in order to cover myself?
Thank you :)

This is a personal residential rental agreement

Attorney Answers 2


  1. Best answer

    Dear scope of guarantee liability:

    The precise language in the guarantee will control. You should buy insurance because the guarantor is often left holding the bag. The renter must purchase a homeowner or renters insurance. You should be identified as a named "insured."

    Most attorneys would caution you to heed the maxim that no good wind blows toward a guarantor.

    The answer provided to you is in the nature of general information. The general proposition being that you should try to avoid a bad outcome if you can.


  2. IF you mean the "good guy guarantee" it means just the rent.

Bankruptcy and debt topics

Top tips from attorneys

What others are asking

Can't find what you're looking for?

Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer

Browse all legal topics