Cash For Keys: What to Offer Inherited Tenant? (Non-M2M Lease)

[Steve Shaw]

Purchased a duplex in October 2019, and inherited a tenant as well as a 12 month lease that extends through May 2020. While we've attempted to show good will and provide reasonable accommodations, our tenant has unrealistic expectations in more ways than one. This ultimately led to me offering them the opportunity to break the lease early which is fine with us; the unit needs updating and sooner is better. The tenant is willing to move out early if we would like to, in their words, "buy them out of their lease." Seems like a simple enough cash for keys scenario.

My question: There's 4 months left on the lease, so what is a reasonable offer to buy them out of their lease? 

I've seen plenty of examples with month-to-month leases, delinquent tenants, eviction scenarios, and rent-stabilized situations but haven't come across anything like this particular example.

Insight and guidance appreciated!

[Mindy Jensen]

100% agree with @Aaron K.

I'd tell them that you are not willing to buy them out of their lease, but they are able to break it with no fees should they find another property.

As long as they're paying rent, it's best to keep them in the unit.