Property Management
What is 'tenant estoppel certificate' in Rhode Island commercial real estate?
AA certificate from the tenant's insurance company
BA statement signed by the tenant certifying the status of their lease, including rent, term, any defaults, and amendments✓ Correct
CA certificate from the municipality confirming tenant occupancy
DAn eviction notice signed by the tenant
Explanation
A tenant estoppel certificate is a signed statement from a commercial tenant confirming the current status of their lease—rent amount, term, lack of defaults, and any modifications. Lenders and buyers rely on these certifications when acquiring or financing leased properties.
People Also Study
Related Rhode Island Questions
- A commercial lease 'estoppel certificate' is a document in which the tenant:Property Management
- A Rhode Island property manager negotiates a lease renewal for a commercial tenant at a higher rate. This is an example of the manager's duty of:Property Management
- A Rhode Island commercial tenant's lease expires and they remain in the space while negotiating a new lease with the landlord's knowledge and acceptance of rent. This is most likely a:Property Management
- A Rhode Island landlord wants to increase the rent for a tenant under a fixed-term lease. The landlord may:Property Management
- A Rhode Island commercial property is under a long-term lease below current market rent. How would an appraiser typically account for this?Property Valuation
- A Rhode Island property rents for $1,800/month. The landlord wants a 12% annual return on their $180,000 investment. Is the current rent sufficient?Real Estate Math
- When a Rhode Island appraiser estimates the value of a duplex using the gross rent multiplier method, they divide the sale price of comparables by their annual gross rents to derive the GRM. The subject property has annual gross rents of $30,000 and the market GRM is 12. What is the indicated value?Property Valuation
- A Rhode Island buyer's offer is accepted, but the buyer then loses their job and can no longer qualify for financing. Which contingency protects the buyer?Contracts
Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Study This Topic
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →