Eviction is not the only option to remove a non-paying resident. We forget the residents are people and people make poor choices or sometimes life happens and people end up in bad situation. The eviction route leaves all parties with a bitter taste. This process is costly, lengthy, and emotionally draining. If you have evicted someone you know there are chances they may damage the property before move out, not because they are bad people but they may feel out of control and doing something gives them a sense of control. Consequently the owner will have to spend thousands of dollars to clean, repair and remake the property, all the while property is vacant further accentuating the loss.
An alternate solution is cash for keys. Some of you may have heard of this option. Many attorneys suggest this path as it is quick, simple and keeps everyone happy and provides that sense of control that they have an alternative choice than being humiliated. The mentality of some people is to punish the resident due to non-payment. As mentioned above, people make poor choices and by punishing them they may never get out of the vicious debt cycle. I am not suggesting that landlords need to be saviors, just help the resident move out with not a harsh consequence. Win-Win sounds like a cliché but when looked from a person given a choice of either eviction, or move out without long term consequences, it is a Win for that person. And ability to quickly put the property back on the market with minimal of work should be considered a Win for the owner.
Cash for Keys is just that, the landlord offers a couple of hundred dollars and the resident turns in the keys. The resident can use the money for moving, new place or whatever they want. No unnecessary drama, no unnecessary damage to the property and everyone is happy.
We have utilized this process twice in 2018 and the outcome was favorable to all parties.
