Only 7% of executives believe their companies are extremely or very prepared to comply with new lease accounting standards proposed by the Financial Accounting Standards Board (FASB), according to a recent Deloitte survey.
What is an SNDA?
Tenants who become tired when reading complex and lengthy leases may be tempted to skip over a paragraph at the end of the document that starts with the words “Subordination, Non-disturbance, and Attornment” (SNDA). However, the SNDA language has taken on new importance in this economic environment in which it is no longer shocking to learn that a commercial landlord has walked away from the mortgage on his major office building.
With cutting costs top-of-mind for every retail chain trying to make ends meet in a lingering downturn, the National Retail Tenants Association (NRTA) is using its influence and expertise to address the occupancy side of the retail expense equation.