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Updated about 4 years ago,

User Stats

3
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0
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Audrey Van
  • Investor
  • Atlanta, GA
0
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3
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Cash for keys during Covid

Audrey Van
  • Investor
  • Atlanta, GA
Posted

I have a single family home in Fulton County, Georgia with a tenant that has been in place for a few years.  She has gotten behind on her rent before but would eventually clear her debts and any fees.  This tenant stopped paying rent in February 2020 and appears to have no intention of paying her back rent.  The eviction process in Fulton County has come to a standstill and in-person court proceedings may resume next month, we heard. Even with court proceedings resuming, I'm sure there will be a multi-month backlog.  The house has known repairs that are needed from tenant damage. 

The rent is around $1000 and with our estimation that it may be January or later before a court hearing, we are considering giving a cash for keys offer.  I know this has been done in foreclosure cases where back rent isn't owed.  With the unknown time period for eviction, should we offer $1-2k simply to get her to move out and begin fixing the property for a new tenant?  How does this work with rent owed? Since we have already lost about $9k in rent and with unknown timing, this seems to be a worthwhile alternative to stop our losses. 

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