Is my guarantor off the hook if I assign my lease? (Ontario)
I am considering my options to assign my lease as a tenant before the end of the year. Would my guarantor remain liable for the tenancy if I transfer it to a new tenant? Here are the relevant clauses I can find from the contract:
Assignment: The Tenant may assign the Rental Unit only in accordance with this clause and the RTA. The Tenant covenants not to assign the Rental Unit without first requesting, in writing, and receiving written permission of the Landlord to do so, which consent will not be arbitrarily or unreasonably refused. The Landlord may charge an administration and processing fee in respect of the granting or withholding of such consent in accordance with the RTA. It is further agreed that a request to assign to a specified assignee shall be deemed not to have been made until any applicable administration and processing fee has been paid and submitted along with the Tenant's written request. The Tenant shall deliver all completed documentation that the Landlord may reasonably require from the Tenant and/or the prospective assignee, along with the Tenant's written request. Each written request shall be delivered personally or by mail to the Landlord at the address set out in clause 3 of the Lease, but if given by mail, said written request is deemed to have been delivered five days after the written request is mailed, not including weekends or holidays.
Guarantor(s): If there is a Guarantor to this Lease, the Guarantor agrees, pursuant to the terms of the Guarantee to be liable for performance of all terms and conditions of the Lease and the Additional Terms hereof and the liability of the Guarantor and Guarantee shall continue until this tenancy is finally terminated, including during any renewals or extensions, statutory or otherwise, of the term of this tenancy.
Liability is Joint and Several: All covenants of the Tenants herein contained shall be deemed to be joint and several obligations unless otherwise specified by written agreement appended hereto. Everything in the Lease and these Additional Terms shall extend to and be binding upon the respective heirs, executors, administrators, successors, and assigns or each party hereto, including those of the Guarantor(s).
