Need Help Cash For Keys

[James Nix]

Hey everyone,

So I have a situation where my tenant is currently late on her rent right now. I served her the 10 day notice on the 7th. So she have till the 17th to pay or I file for eviction. But at the time I called her on the 5th on why she didn't make her rent payment yet she gave me a story about her not really doing good financially & that she really not in a position to have an eviction on her record because no one can help her. So I told her I might can have another way to avoid eviction and I'll let her know about it. 

So before I even start to say what I proposed to her let me just say the story she told me is not the only thing that got me thinking about this Cash For Keys strategy I took that from a lot of forums & different podcasts saying its better to just get them out vs paying the eviction fees and waiting and such. 

So I told her if she could moved all her stuff completely out the unit by the 17th & returned the keys to me that we could sign an agreement to break the lease and she get her security deposit back less any remaining balance & fees after 30 days. Also less any damages to the unit.

So my first question for everyone is Am I dumb for doing this? and why 

2. Do I have to go to an attorney to get the form to break the lease or is it something I can get off google?

3. Would you have done this? & if you would how would you have done this differently 

[Erik W.]

It depends on what your local court system is like and what this tenant does on the way out if you just evict.  It also depends on how much you are considering paying her.

First, keep this in mind: you don't owe her anything.  Anything you give her at this point should be gratefully received on her end.  All you are doing is controlling how much you are losing.  Think about it this way: she told you she's "not doing well financially."  Okay, so she could have just moved out and asked you for a payment plan to pay off what she owed for breaking the lease early.  That's always an option.  Anything you offer at this point is purely grace on your part.

Next, how long does it take to get her out from the day you file court papers?  2 weeks, 4 weeks, 2 months, etc?  Are your judges likely to give stays on evictions or drag out to a bench trial?  The longer the law gives her to sit in there soaking up free rent, the more valuable it is for you to get her out quicker.  

Finally, having her move out by the 17th.  Is she going to move her entire household somewhere else in 3 days?  Not dumb, but perhaps unrealistic?  Is she going to try to rent elsewhere, or does she already have a place lined up?  Tenants who sit on their hands until they are in trouble are seldom highly motivated "go getters" who can move out in 72 hours.

I've never done cash for keys.  I get the whole cost/benefit analysis side of it.  Call it my sense of justice, but I do not like rewarding people for breaking their word to me and being too lazy to do the right thing by moving out without forcing me to bribe them.  If she "is not in the position to have an eviction on her record", then I'd tell he if she is 100% out by next week Monday (that gives her the weekend to move), I won't file the paper work.  No money paid.  Her "reward" is getting to keep her name clean, and if she is telling the truth about valuing her name, she will make it happen.  If not, then probably best to just evict and send the bill to collections.

Food for thought.