Co Signer Addendum Rental Agreement Template for Canada

The Co-Signer Addendum Rental Agreement is essential in situations where a landlord requires additional financial security beyond the primary tenant's credentials. This document is commonly used in Canadian residential and commercial leasing when prospective tenants may not meet all rental criteria independently, such as students, first-time renters, or individuals with limited credit history. The addendum must comply with provincial residential tenancy laws and clearly outline the co-signer's obligations, including financial responsibilities, term of guarantee, and conditions for release. It serves as a legally binding extension of the main lease agreement, protecting the landlord's interests while clearly defining the co-signer's role and responsibilities.

1. Parties: Identifies all parties involved: Landlord, Tenant(s), and Co-signer(s), including full legal names and contact information

2. Background: References the original lease agreement, including its date and parties, and explains the purpose of this addendum

3. Definitions: Defines key terms used in the document, including 'Co-signer', 'Primary Lease', 'Obligations', and other relevant terms

4. Scope of Co-signer Liability: Details the extent of the co-signer's financial and legal obligations under the agreement

5. Term of Co-signer Agreement: Specifies the duration of the co-signer's obligations, including whether they extend to lease renewals

6. Financial Obligations: Explicitly states the co-signer's financial responsibilities, including rent, damages, and other charges

7. Default and Remedies: Outlines what constitutes default and the landlord's remedies against the co-signer

8. Notice Requirements: Specifies how and when notices must be provided to the co-signer

9. Relationship to Primary Lease: Clarifies how this addendum relates to and interacts with the primary lease agreement

10. Governing Law: Specifies that the agreement is governed by the laws of the relevant Canadian province

11. Execution: Signature block and execution requirements for all parties