A lease guarantee bond is a surety bond written to ensure the payment of assessments under a rental agreement. This obligation is often underwritten as miscellaneous commercial surety however it is essentially a financial guarantee. Lease guarantee bonds are often required by landlords that may as part of a rental contract agree to make significant upgrades and enhancements to the property. That capital investment may be partially or wholly financed and the rents under the agreement earmarked for repayment of that financing. A lease bond might also be required as financial assurance when a lessee consents to a very long term agreement and the obligee has concerns about the lessee’s operational continuity.