Cash for keys

[Ed Rataj]

My wife and I bought our first 4 family two months ago.  There are three occupied units and  we are renovatimg the vacant unit now.  One tenant has been 2-3 weeks late with rent both months and anticipates being late again next month.  I am planning to offer her a "cash for keys" deal to forgive her rent in exchange for moving out in two weeks.  Assuming that we can come to an agreement, how do I document the arrangement?   Is there a formal lease modification form?  Write it up in plain english and sign?  Thanks.