Partners Lease Guaranty Terms and Conditions

1. The Guaranty is capped at $7,000.  Higher levels may be approved on a case-by-case basis.

2. Professional Staff Benefits cannot enter into negotiations with individual landlords. The Guaranty must be acceptable "as is" to the landlord. Residents are asked to notify the Professional Staff Benefits Office with objections they may encounter from landlords. These objections can then be considered when the program is re-assessed and possibly revised in the future.

3. Partners is making a guaranty to cover certain potential costs that the Tenant would otherwise be obligated to pay. The guaranty does not relieve the Tenant from any lease obligation. The Tenant will reimburse Partners for any payments made by Partners to the Landlord on the Tenant’s behalf. 

4. Tenant/Landlord issues are to be resolved by the Resident or Clinical Fellow and the Landlord. Partners will not become involved in negotiations with the Tenant and the Landlord.  In general, payments to a Landlord will be made on demand (without any evaluation as to the validity of the claim) since the guaranty serves in lieu of funds that would otherwise be held by the Landlord. Payments made by Partners under the guaranty will be deducted from the Resident or Clinical Fellows paycheck.

5. The term of the Lease Guaranty is for one year with annual renewal rights. The Lease Guaranty document needs to be re-executed every year that the Resident or Clinical Fellow wishes to participate in the program. If the Lease Guaranty document is not renewed with Partners and the Landlord annually, the Guaranty no longer is valid.

6. The Lease Guarantee document becomes null and void if a Resident or Clinical Fellow is no longer enrolled in the Graduate Medical Education Program. The Resident or Clinical Fellow is required to notify Akmaral Kusherbayeva, Professional Staff Benefits when this takes place.

This page was reviewed on 3/21/18.