In Real Estate? Of course you are. I am sure you have heard the term SNDA thrown around. But what really is a SNDA and how does it affect me? The three players here are the Lender, the Tenant and the Landlord. The SNDA is a document that establishes the parties legal rights should a Landlord default on a loan. The tenant subordinates their rights to the mortgage and the tenant wants to make sure that their rights are not affected if the Lender forecloses. A lot of the time, national tenants require a SNDA from the Landlord. Also, the SNDA is typically a requirement in Landlord’s leases. Chances are, if your discussing a SNDA after the lease is signed, things at your property are not all Rainbows and sunshine. Have a SNDA question? I would be happy to serve as a resource, having negotiated many between Lenders and Tenants. #leasingattorney
I believe it is crucial for tenants to understand their rights and protections, especially in the event of landlord default. Thanks for sharing , Moshe Genet!
Adam Dickert
8mo
DEFFINITELY not sunshine and rainbows Moshe Genet. Great simple breakdown man!
Due Diligence Expert | Argus & Excel Modeling | Underwriting & Financial Analysis Services For Commercial Real Estate | Founder & CEO of Deals CRE
8moMoshe Genet well said. Typically there is lease language detailing the subordination with a timeframe when the SDNA should be delivered to the landlord-tenant.