Cash for Keys Agreement
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This form lets a Landlord enter into a Cash for Keys Agreement where the Tenant agrees to vacate a rental property by a certain date in return for a one-time cash payment.
Document Last Modified: 10/19/2021
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Eviction proceedings are time-consuming and expensive. If you have a bad Tenant that you want to vacate your property, it might be worth considering a Cash for Keys Agreement.
In this Agreement, the Landlord agrees to make a one-time payment, usually for a few hundred dollars, to a Tenant. In return, the Tenant agrees to vacate the property by a certain date, to leave the property in good condition, and to remove all personal property.
This form lets the Landlord enter the amount of the payment and the Move-out date. Further, it specifies the conditions that Tenant must comply with to get the payment. Finally, it includes an Addendum to sign once both parties have fulfilled their obligations under this Agreement.
It might sound counterintuitive to pay bad Tenants, but the truth is that it’s often worth it to get the Tenant to leave. This type of Agreement can save Landlords a lot of time, money, and stress.