A professional property manager can walk you through the decision-making process and provide you with the steps to offer tenants cash for keys. The end result is a vacant property, which you can quickly rent out to new tenants.

How Does Cash for Keys Avoid Eviction?

Cash for keys is a name that’s been given for a legally binding private agreement between a property owner and a tenant. In this situation, the owner offers a cash payment to the tenant as an incentive to vacate the property in a certain number of days. This avoids a lengthy and expensive formal eviction process. It can be an easy alternative.

Using Cash for Keys to Remove Squatters

Another scenario where cash for keys can work is when you’re vacating squatters. Sometimes, homes are vacant for long periods of time, and squatters set up house. According to Texas law, you have to go through the entire eviction process to remove squatters from your property, even though they don’t have a right to be there. This is expensive and lengthy, and cash for keys can save you money.

Avoid Eviction Outside the Courts

Asset Hero Property Management – Cash for Keys

Landlords will often ask us if this is legal. Yes, it’s legal. Cash for keys agreements are legal and permitted in all 50 states. Some people see making an offer like this as depriving tenants of their due process. But, that’s not the case. You’re settling a dispute outside of the court system.

Make sure your lease is legally compliant, and that it clearly explains the grounds for eviction.

If you have any questions about cash for keys programs, evictions, or anything pertaining to property management, please don’t hesitate to contact us at Asset Hero Property Management.

OFFICE INFORMATION

Asset Hero Property Management

1580 Copperfield Pkwy

College Station, TX 77845

(979) 353-2567