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Updated over 4 years ago,
Formulate a cash for keys letter or forgiveness of rent letter
I have a tenant in my house since Sept 2019. He has not paid rent since June 2020. I offered to take half the rent but he refused to pay anything. When I went to check on the house after giving a one-week notice, I discovered that he had changed the locks and he told me to get off his property. He said the only way I could come into the house will be to take him to court. We all know that the courts are not open for evictions at the moment. I filed an eviction back in July 2020, but of course, that is on hold. He now owes me about $9,000 in rent, not including fees and damages.
I finally wrote him a letter stating that I cannot pay the mortgage anymore and I will have to sell the house. I offered to drop the eviction, forgive the owed rent if he moves in 30 days. I am looking for help formulating the contract. Also, what would I do about damages in the house? Should I even forgive the rent or should I wait the indefinite amount of time until the courts open again?
I am very envious when I read about landlords whose tenants are actually paying rent. I wonder what they did right and what I did wrong. This is my first rental property when the tenant is not living with me. I hired a company to vet the tenant and was very picky. He was a good tenant for 7 months and then stopped paying even though I know he was receiving unemployment. This is a class A-B house and the tenant drives a newer Mercedes. I was willing to work with him but he knew that I had no recourse so he did not put in any effort and barely answered my phone calls, texts or emails.
I'm guessing the best thing to do is to cut my losses and let go. I know the courts are so backed up, my case might not even be heard until March 2021 or later. I really need help with the contract. All I'm seeing are "Cash for Keys" contracts that do not exactly pertain to my situation.