Cash for Keys
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
Cash for Keys (by 002 [IL]) Jul 31, 2020 10:09 PM
       Cash for Keys (by Coplin [CA]) Aug 1, 2020 1:03 AM
       Cash for Keys (by myob [GA]) Aug 1, 2020 10:53 AM
       Cash for Keys (by BRAD 20,000 [IN]) Aug 1, 2020 12:16 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Cash for Keys (by 002 [IL]) Posted on: Jul 31, 2020 10:09 PM

Is anyone willing to share Cash for Keys verbiage they have used. Iím trying to write one up and it just doesnít seem to flow.

Thanks, 002

Cash for Keys (by Coplin [CA]) Posted on: Aug 1, 2020 1:03 AM

Found several Cash for Keys agreements:

Lease Break Paperwork (by WMH [NC]) Posted on: Oct 20, 2013 4:13 PM

cash for keys help (by Josh [CA]) Posted on: Jun 3, 2010 6:45 PM

Cash for Keys (by myob [GA]) Posted on: Aug 1, 2020 10:53 AM

In 35 years I've only done one cash for keys-- just recently.

I foreclosed on a house and the person wouldn't move after the foreclosure. Owner/now a tenant. Tenant tried several STALL tactics-- with frivious court action.

So I had tenant sign, in front of witnesses and notary that keys would be surrendered the next day at 11am. Anything left on the premises will be removed and placed on the curb.

The foreclosure just muddied the waters and wasn't so cut and dry as we would have liked. To be honest I felt like the man in the cartoon who tied the tenant to the tracks as the train approached. Didn't matter how the tenant got into the position-- I just didn't want to be the cause of the train RUNNING over the tenant. So I gave 1K-- she signed - witnessed by her family and the local sheriff.

I thank god that I did this before this current C19 stuff or I would have been stuck. Feel like it was worth it.

Additionally I was making 500 on the mortgage but now renting is for 1190.00. New HVAC courtsey of previous tenant/resident/owner.

Cash for Keys (by BRAD 20,000 [IN]) Posted on: Aug 1, 2020 12:16 PM


My take on this:

Giving the squatter money does not solve his problem. He is squatting because he has no money now for a new place or help to move, so I offer to pay the deposit to his new LL AND my helpers/truck/trailer to move the big stuff. We even rent a storage unit for their stuff.

For a rental move out I bill the labor and the dep money to his move out settlement.

The only time anyone every took me up on a CASH FOR KEYS I gave them $300 to be out in a week.

I don't bother talking about cleaning because they won't.

The offer MUST have a deadline. I learned this the hard way in court.


Click Here to send this discussion to a friend
Report discussion to Webmaster

Subject: RE: Cash for Keys
Your Name:
Your State:

Cash for Keys
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: