Advice needed on alternative to doing an eviction

[Andy K]

Hi all,

I would like some advice from the more experienced investors on the forum.

We have a family that lives in a rental property we own. They have been there for close to 4 years and have paid the rent each month (they have been late in paying the rent sometimes, but after some follow-up with them, they have paid it). They did not pay the rent in March, and after talking to them, the tenant told me he lost his job recently. He said he would get the money to pay the rent soon, and with them being there for 4 years, we gave him some time. Now it has come to a point where March and April rent is not paid, and May rent will be due in a week. Since we didn't see any other option, we sent them a 3-day pay or move notice this week.

I would rather not pursue the eviction route on these tenants if it is not needed. The last couple times that we had to evict someone, they left the property in a mess, and one of them contested the eviction case just to buy 2 more months of free rent. So it cost us a lot more in time and stress when we did the eviction. I would rather just have these tenants move out and get the property back in good shape as soon as possible, so that I can do the clean-up and rent out the home again.

My question is - how should I approach this issue? What can I say to the tenants, so that they may agree to move out of the home in a week or two, and leave the home in decent shape without causing any major damage? In the end, if they don't move out, I will have to pursue the eviction route to get possession of the property. But I rather not do that if it is not needed.

Any advice on how I could handle this case is much appreciated. Thanks for your help.

- Andy.

[Kyle J.]

One option would be "cash for keys" where you pay them an agreed upon amount of money to move out in a very short time frame. The advantage for you is you get them out quicker without the time, expense, and loss of rent normally associated with an eviction. The advantage for them is they get some money to help them move (which it sounds like they need) and they avoid having an eviction on their record and possibly a monetary judgment against them. Just make sure they're out and you actually get the keys and inspect the place before you pay them.