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Making a Lease Subordination Agreement
If you're renting property that's not owned outright by the landlord, or you're a landlord who wants to guarantee a renter's lease, you can use a Lease Subordination Agreement to help ensure that the tenant remains on the property during the length of the lease . With this agreement, tenants can stay in the property, regardless of who owns it.
Use the Lease Subordination Agreement document if:
A Lease Subordination Agreement can help protect the interests of a tenant, so that if there is a transfer of ownership of the property, they can continue to pay the rent and accept the new owner as his or her new landlord. If you're a landlord, by using a Lease Subordination Agreement you can reassure potential tenants that they can stay in the property for the duration of their lease, so as to limit concerns over signing a lease with you.
Other names for this document: Non Disturbance Agreement