What is Cash for Keys?

What is Cash for Keys?

"Cash for keys" is a strategy often used by landlords or property owners to incentivize tenants to voluntarily vacate a rental property. In exchange for moving out by a certain date and leaving the property in good condition, the tenant receives a cash payment. This approach is commonly employed in situations like evictions, foreclosures, or when property owners want to quickly regain possession of their property without going through lengthy or costly legal processes.

The goal of "cash for keys" is to offer a win-win solution: tenants receive financial assistance to help with moving costs, and landlords avoid the potential legal fees, delays, and property damage that can occur with formal eviction procedures.