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Updated about 4 years ago on . Most recent reply

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196
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Ishmael Johnson
  • New to Real Estate
  • New York
29
Votes |
196
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Cash for keys during the moratorium

Ishmael Johnson
  • New to Real Estate
  • New York
Posted

I want to get my tenants out of my property so i can do some renovations to force the value up and sell the property, but the tenants cannot be evicted. Is cash for keys a good strategy to do so?

Most Popular Reply

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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
3,856
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2,465
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

It's about the only way to proceed if there are no lease violations. However, they don't have to accept your offer.  The lease term protects the tenant as much as it does the owner.  You may want to sweeten the deal by offering a realtor to help them find a new place and even arranging for a moving company.  The easier and less expensive you can make it for the tenant, the most likely they'll go for it.

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