Cash for Keys - looking for suggestions

[Juan Nieto]

How do you typically structure this offer?  I have a tenant I want to do this with, but I want to make sure I structure this proposal the best way possible.  My tenant is month to month.  I know I can do a 30 day notice, but I am sure she will not voluntarily move.  My cost to evict is about $750 between court and legal fees.  Thinking about this situation, if I were to give 30 day notice and they stop paying, they will make it go to court.  This means, I will be out two month rent plus the cost of eviction.  I figure that is my worst case is 2 months rent & eviction costs.  How much do you all typically offer with cash for keys.  I was thinking a few hundred, but given my worst case, offering one month rent + a few hundred bucks.   

A little background on the tenant.  She lost her job a while back.  I tried to evict, but she challenged it and caught up on rent.   She has been paying on time since, but I recently had some work done there and my handyman told me they don't have water.  Nothing to do with pipes, simply they have not paid their water bill for some time.   Also, from his assessment the place needs a lot of work.  They have not trashed it, but they do not care for the place and it is looking rough.   Also, we found out there are termites.  I would rather get them out tent the place and fix the place up. 

Thank you all in advance.

Juan 

[Thomas S.]

You have plenty of grounds to evict. In your situation it is not really a case of getting rid of a bad tennat, at least not in regards to rent, so I would begin by issuing a termination notice. You sit down and explain all the reasons as to why you need them to leave and make it clear that she has no option, you will evict if necessary. Once you gauge her response you could then ask if you can financially assist her to move. Do not make a financial offer, let her give you a number. If she is not open to a bribe or she tries to extort a unrealistic amount then you know you have no option but to evict.  Do not negotiate with crazy. You already know what the maximum number for you is.

Never offer a number before she gives you a number first.