General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Chicken or Egg Question: Eviction or Cash-for-keys?
Hello BP,
This question may only make sense for Detroit landlords...in other markets it will sound idiotic. I have an occupied property I bought in the tax auction. I had initially worked out a deal with the previous owner to do a cash-for-keys arrangement where she would pay $200 / mo. and I would reimburse her the funds at an agreed upon move out date so long as the water bill current. I wrote a lease spelling it out, and she made one attempt to pay on through eRentPayment and her debit card was denied, and I never heard from her again. She is still living in the property, and I am fine to let her stay a two more months until I have time to deal with the renovation of the property because she is effectively a house-sitter, but as of now she is unresponsive to email and text message (I live out of town). I started the eviction process by sending a 7-day notice, but now I'm wondering what the best strategy is....should I follow through with the eviction and get a the judgement as a bargaining chip to work out a new cash-for-keys arrangement.... and is it possible to still exercise the judgement if she breaches that new contractual agreement? I'd rather avoid getting the mandatory bailiff and dumpster, and would prefer to use the cash I'd spend on setting someone out to find an arrangement for a cash-for-keys deal that would actually work instead. What's my best move here?
Best,
marc