What is Estoppel Certificate?
A signed tenant statement confirming key lease terms, rent amounts, and the absence of landlord defaults — required during property sales and refinancing.
Definition
An estoppel certificate is a signed document in which a tenant confirms the current terms of their lease, including rent amounts, CAM obligations, security deposits, and whether the landlord is in default. Estoppel certificates are required during property sales, refinancing, and loan underwriting to verify that lease terms match the landlord's representations. From a CAM reconciliation perspective, estoppel certificates are important because they confirm the tenant's understanding of their expense obligations, pro-rata share, and any outstanding disputes. Discrepancies between estoppel responses and the landlord's records often surface CAM billing issues that should be resolved before a transaction closes.
Validate Your CAM Reconciliations
CapVeri catches gross-up errors, cap violations, and billing mistakes before tenants or auditors find them — from your Yardi or MRI exports.
Start Free Audit