Offering cash for keys on a purchased property

[Lior Golan]

Hello everyone.

I Sheva property just I just acquired that has section 8 tenants. The are paying now 860$ as per their lease and because they didn’t renew it from the former owner (they are there from 2012), so my agent told me that they are on a month to month lease.

I need to flip this one hence need them to get out of the property.

I want to offer them cash for keys if they wouldn’t accept to get out with a 30 day notice.

I prefer to give them cash for keys because don’t want to get into eviction which will take at least 6 month with all the COVID situation which not give me to take action until the end of the year.

So my question is how would you act instead of my talking to the tenant? Like money wise... give them X amount of money to leave in 2 weeks, and decrease the money after every week. Or give them at least 30 days?

Again, they are there from 2012, paying 860$ rent section 8 (probably paying from their own pocket something like 250$), the estimated rent for a 3/1 or 3/2 is 1200-1400k...

Thank you