Tenant Estoppels and Profit & Loss Statements – Income Property
One of our investment clients recently asked us about some of the income property forms involved in selling their seven unit complex. While this client does have a manager on-site, he was still concerned about the procedures, paperwork, and expectations for these forms. Tenant Estoppel Certificate: This form verifies that the tenant/landlord/manager/new buyer all agree on the stated monthly rent, security deposit, lease dates (if any) and ownership of any appliances. Typically the tenant is provided a copy once the property is going into escrow and then it is signed by all other parties. In addition to the estoppels, landlords [...]