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Updated over 4 years ago,

User Stats

22
Posts
16
Votes
Chrystian Tapia
  • Real Estate Broker
  • Franklin Park, IL
16
Votes |
22
Posts

What to do when tenant breaks Cash for Keys agreememt?

Chrystian Tapia
  • Real Estate Broker
  • Franklin Park, IL
Posted

Hello BP Community,

I'm a first time landlord, I recently purchased a multifamily building in Chicago, Cook County. I made a cash for keys agreement with a tenant. About a week before the vacancy date on our agreement, i gave the money to the tenant so they can move into their new apartment. Both the agreement and the reciept of the money was documented and notarized. As you may have already guessed, the tenant did not vacate the property. Aside from the traditional eviction process, are there any other options available to remove the tenant from my property? Does the notorized cash for keys agreement, carry any weight? Is breaking the agreement a criminal offense? If anyone can shed some light on this topic or offer a suggestion, I would greatly appreciate it. Thank You!

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