TENANT ESTOPPEL CERTIFICATE & SNDA AGREEMENT SERVICES
An estoppel certificate is a series of statements about the lease that a tenant certifies to be accurate and true to the current landlord or potential purchaser. Typically, it is a one or two page form that contains blanks for the tenant to complete. Once the certificate is filled out and signed, the tenant is "estopped," or legally barred, from asserting a contrary claim.
An SNDA Agreement (Subordination, Non-Disturbance and Attornment Agreement) is a declaration whereby one party to a lease formally agrees to subordinate (or rank lower) their claims to those of another party, i.e. the claims of a Tenant against a Landlord are often ranked below those of a mortgagee or a ground lessor.
Real Diligence will draft, prepare, deliver and track tenant an estoppel certificate and SNDA agreement.
- Consultation and Drafting - Real Diligence will work with clients to fully understand their objectives and assist in the creation of a proprietary tenant estoppel form.
- Preparation - Whether the client would like to use Real Diligence's estoppel certificate, its own proprietary form, or a form created for a specific transaction, we assist in the preparation of the document that will be delivered to the tenant.
- Delivery - Real Diligence can either deliver the estoppel certificates or prepare them in such a way as to be sent directly from the client.
- Tracking - Once our clients select the frequency and mode of contact, Real Diligence can follow up with each tenant and track the progress of the estoppel certificate. A contact log is always created so that clients can track our progress.
- Negotiation - Real Diligence can negotiate tenant estoppel certificates with tenants and/or their counsel on behalf of our clients.
- Review - Real Diligence can review the executed estoppel agreement for any open issues or conflicting information and can compile a variance report.
Real Diligence's SNDA Agreement Services, center on the preparation, delivery and tracking services detailed above.