 Cash for keys (by Bodybuilder [SC]) Jul 9, 2014 9:48 AM
 Cash for keys (by BRAD 20,000 [IN]) Jul 9, 2014 10:22 AM
Cash for keys (by Dan [MA]) Jul 9, 2014 12:13 PM
Cash for keys (by Dave [MO]) Jul 9, 2014 12:18 PM
Cash for keys (by Robert J [CA]) Jul 9, 2014 12:25 PM
Cash for keys (by Chris [CA]) Jul 9, 2014 4:17 PM
Cash for keys (by Mike SWMO [MO]) Jul 10, 2014 5:14 AM
Cash for keys (by Mike SWMO [MO]) Jul 10, 2014 5:16 AM
Cash for keys (by CTLL [CT]) Jul 10, 2014 5:56 AM
Cash for keys (by Bodybuilder [SC]) Posted on: Jul 9, 2014 9:48 AM
Message:
First time in 10 years of LL'ing offering cash for keys. Idiot tenant that I'd like to get rid of before her eviction date at the end of the month. Verbal agreement was for her to be out by Sunday night leaving none of her belongings and leave the place clean - or no cash.
Question is - I'm guessing I need to have her sign something stating that she has vacated the property so I can't be accused of locking her out later. Do I state anything about the cash in the document? Get any other information such as forwarding address?
--162.207.xx.xx |
Cash for keys (by BRAD 20,000 [IN]) Posted on: Jul 9, 2014 10:22 AM
Message:
Bodybuilder,
I put mine in writing with a written deadline. A verbal came back to bite me later in court. "He said he'd give me $XXX if I moved out." so judge deducted that from what she owed.
If she will cooperate, yes have her sign that she is out.
BTW: I also add this to what they owe as a move out cost.
--67.175.xx.xxx |
Cash for keys (by Dan [MA]) Posted on: Jul 9, 2014 12:13 PM
Message:
Also, when you reach the point of handing her the cash, have her first sign a receipt for the cash which also includes a general release of liability.
Your lawyer can write it up for you or you can piece one together from the internet, but basically it says that in return for the cash, they agree to hold you harmless for anything that might've occurred during the tenancy. --64.197.xx.xx |
Cash for keys (by Dave [MO]) Posted on: Jul 9, 2014 12:18 PM
Message:
I would also add, items left at the property after the agreed upon move out date are considered abandoned. --174.126.xx.xx |
Cash for keys (by Robert J [CA]) Posted on: Jul 9, 2014 12:25 PM
Message:
Tenants never get out exactly by their deadline. Even if you have a verbal agreement that you can discard anything left behind, unless it's in writing, signed, dated and with a witness -- you could be held liable for their value.
Each City/State requires the landlord to hold for so many days. --98.119.x.xxx |
Cash for keys (by Chris [CA]) Posted on: Jul 9, 2014 4:17 PM
Message:
It might work and save you - but will create more issues for her future LLs, that's for sure. as she will brag about it and soon a dozen of her friends may try it.
Guys, start using LL references. A simple call would bring up such an incident. The OP as her last LL would spill the beans and tell it all. While there wouldn't be a record - or would there? (You are just speeding up a court order? Then I'm taking back the criticism as the eviction should show up on her credit report).
Be careful. The author of the first LL book I ever read was shaken down for $ 4,000 over a verbal agreement. --101.108.xxx.xxx |
Cash for keys (by Mike SWMO [MO]) Posted on: Jul 10, 2014 5:14 AM
Message:
Verbal isn’t much good in today’s world.
When my wife tells me she loves me I ask if she will put that in writing.
--98.19.xxx.xxx |
Cash for keys (by Mike SWMO [MO]) Posted on: Jul 10, 2014 5:16 AM
Message:
Now I know why dogs like to have heat lamps in their house in the winter. --98.19.xxx.xxx |
Cash for keys (by CTLL [CT]) Posted on: Jul 10, 2014 5:56 AM
Message:
Cash for Keys. No guessing game. The cash would be given at the time the moving van is in the yard and loaded because YOU are there.
The premises would be inspected at the same time and the keys are exchanged for the cash as they are ready to drive away.
Next step, the locks are changed - preferably Ernie's Locks.
--98.182.xx.xxx |
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