Hotel lease/gurantor

Guest (Querist) 11 May 2012 This query is : Resolved
Dear Sirs:

A hotel is going to be leased out....Will a guarantor serve any useful purpose to the lessor?

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ajay sethi (Expert) 11 May 2012
what are facts of your case?

R.K Nanda (Expert) 11 May 2012
State full facts of ur case.

Guest (Querist) 11 May 2012
Thank you, Sirs......

Actually a friend of mine owns a budget hotel which he has been unable to run successfully. Therefore, he now plans to lease it out to a well-known hotelier for a period of three years.

Please enlighten me as to whether by including a guarantor in the lease deed I can secure my dear friend's financial interests better.....

adv. rajeev ( rajoo ) (Expert) 11 May 2012
your friend can ask for the guarantor for the financial security

ajay sethi (Expert) 11 May 2012
the lease deeds must be containing clauses to protect your interests . get it drafted by a lawyer and provide for eventuialites in event of lessee failing to pay on time .

Advocate Rajkumarlaxman (Expert) 11 May 2012
how is it possible. you are actually standing guarantor for whom your friend or to the person taking the hotel on rent. as u state the facts your friend is letting out the hotel right?. So how can you make is financial intrest better. are you going to give money in default of the person who has taken the hotel on rent.

Suhail A.Siddiqui (Expert) 11 May 2012
Guarantee stand subject to the satisfaction, who ask guarantee. Therefore It is always watch interest to the extent of guarantee

Guest (Querist) 12 May 2012
Thank you all....

Advocate Rajkumarlaxman - For your information, I'm neither the guarantor nor the lessor/lessee. I'm just another advocate seeking to broaden my knowledge on this forum.

ashutosh mishra (Expert) 12 May 2012
very good idea sir ji! nice way to enhance knowledge.i feel enlightened by your idea sir ji!.

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