You’ve probably not heard of an estoppel certificate if you are a residential tenant but probably have if you are a commercial tenant. In real estate terms, an estoppel certificate is an important document used to confirm the details of a lease agreement by the tenant to a third party such as a potential buyer or a financial institution.
It is used as part of due diligence to confirm that what the landlord says about the property is true and to get an accurate picture of details such as the rental income, agreements captured and not captured in the lease, and any obligations that a landlord has towards to the tenants, promises made by the landlord, amendments to the lease, protected tenancy status and many more such material details that may affect the new buyer once they take ownership of the property.
The ExecOS team has prepared a comprehensive guide on Estoppel certificate and what it entails. We hope that this guide will help both Landlords and Tenants know how to accurately fill an estoppel certificate.