A binding promise by an individual (typically the business owner) to personally cover rent or damages if the business entity defaults on the commercial lease.
Landlords require personal guarantees when leasing to startups, small businesses, or LLCs with limited operating history. The guarantee lets the landlord pursue the owner's personal assets -- bank accounts, vehicles, or home -- if the business fails to pay. To limit this risk, tenants negotiate "good guy guarantees" that cap personal liability to rent owed through the date the space is vacated and keys are returned, or "burning" guarantees that phase out after several years of on-time payments.
Lextract extracts these fields directly from your lease PDF:
What accuracy can you realistically expect from AI lease abstraction tools? We break down field-level accuracy rates, where AI excels, where it struggles, and how to validate output.
Compare the top AI lease abstraction tools for commercial real estate in 2026. We review Lextract, Prophia, Kolena, Leasecake, MRI Software, and more — with pricing, accuracy, and use-case guidance.
Free AI lease abstraction tools are fast and easy — but they have real limitations. Here is what free tools deliver, what they miss, and when you need structured output instead.
Upload a commercial lease PDF and get 125+ structured fields — including all the terms defined in this glossary — extracted in under 3 minutes. $20 per lease.
Upload Your Lease