Does cash for keys make sense to get tenants out to close on a deal? I have someone that's interested in buying my property. We have price figured out but now the buyer want the units vacant. I'd like the buyer to close by June 10th with no issues and I'm considering offering a 10k holdback per unit if the tenants don't leave. I was going to offer 3k to the tenants to be out by the end of May. I would possibly also guarantee their deposit back. The state requires 60 days notice to vacate. May 31 is less than 60 days so cash for keys is the best thing I can think of short of extending the close date further.
Does cash for keys make sense to get tenants out to close on a deal?
byu/alivenotdead1 inrealestateinvesting
Posted by alivenotdead1
2 Comments
If you really want them out then that’s the way
Always cash for keys. I’ve never found a cheaper or more efficient and effective way to get someone to move.