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by tuna-piano
2096 days ago
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Those people would be surprised to learn how common "cash for keys" agreements are... When a landlord wants to evict a tenant who hasn't been paying rent, it's not uncommon for the landlord to actually pay the tenant cash to leave! This is so the landlord doesn't need to wait months with no rent income while spending significant time going to court, etc[1]. In much of the country it likely takes several months. Each step in the multi-step process generally has lots of loopholes, gotchas and potentially weeks of waiting. [1]https://www.nav.com/blog/cash-for-keys-357679/ |
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It’s a win/win for everyone.
The tenant won’t have an eviction on their record making it harder to rent somewhere else, they can move their own stuff out without the risk of it being damaged, they have cash in hand to stay somewhere else temporarily like a weekly stay hotel [1], and/or they could put their stuff in storage.
I should have been willing to pay up to two to three months mortgage for a cash for keys deal. They weren’t paying anyway, I could have saved the aggravation and they wouldn’t have trashed the place.
[1] all weekly hotels aren’t bad. I stayed in one with my wife and son for months after my lease was up and we were waiting for our house to be built.