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In this one-minute tutorial, Walt Boutin explains the Subordination and Non-Disturbance Agreement (SNDA). The SNDA involves tenants agreeing to subordinate their lease to any existing or future financing, in exchange for a guarantee that their lease will be honored in the event of a foreclosure. This means tenants will not be disturbed, have their leases honored, or face rent increases even if the property is foreclosed. The tenant also agrees to respect the landlord's rights. While smaller tenants may struggle to obtain an SNDA, larger tenants or significant investments in a property should pursue this agreement for added protection.