What is a tenant estoppel certificate?
What items are typically found in a tenant estoppel certificate?
- That a lease exists and is in full force and effect;
- That there are no defaults under the terms of the lease by either the landlord or tenant;
- The amount of each security deposit made, if any;
- That the tenant has no claims, defenses or offsets against payment of rent or enforcement of the lease by the landlord; and
- The amount of any rental payments made in advance, if any.
Good leases will have a provision requiring the tenant to provide to the landlord a tenant estoppel certificate upon request, but the details of what is included in the tenant estoppel certificate vary. Click here for an article I guest wrote on essential lease terms. The list of above is a good starting point but is not meant to be an exclusive list.
Why is it important?
Tenant Estoppel Certificates – The Bottom Line
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