Cash for Keys - saving time and money for landlords
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- เผยแพร่เมื่อ 5 ส.ค. 2024
- What is cash for keys and who should consider using cash for keys? More people and landlords should probably be using cash for keys! We started negotiating cash for keys in the last bust and have been negotiating cash for keys again! We’ll explain and answer more about cash for keys. Stick around to the end for steps for successful cash for keys negotiation!
✔️ Is cash for keys legal❓
✔️ What is cash for keys❓
✔️ How much should be offered for cash for keys❓
✔️ Who can pay cash for keys❓
✔️ When should you use cash for keys❓
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Sections
00:00 WIRE Associates intro from Christian Walsh
01:09 What is cash for keys?
01:57 Is cash for keys legal?
02:29 When to offer cash for keys?
04:42 How much should be offered for cash for keys?
06:14 Who can pay cash for keys?
07:04 Steps for successful cash for keys negotiation
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What are your cash for keys questions? Are you negotiating cash for keys? Let us know...
I closed the escrow today, show up at my home, Renters in it. Their lease just expired the day before
This is not a free country!!!!
Hello sorry dumb question what if they signed, but they decided not to move out what's the process on that?
@@PyroRox1 Actually a good question. If they signed the CAR form, then you'll be able to hire an attorney and get the unlawful detainer going.
As always, an excellent Christian Walsh video.
Thanks Jerry!
appreciate the info~
It's like, your house has been abducted and you have to pay ransom to get it back. It may be legal, but it's obviously immoral on the part of the tenant who does not pay rent but still wants to be paid for moving out. God have mercy on their souls.
with me, my landlord came into my home and stole electronics and forced me to clean the house really good before i left and then she would return my electronics. so ummm no i didnt clean nothing and the dumb lady was texting it all. gonna sue her azz, i was the first person she ever rented to and she obviously doesnt know i have rights.
You never get any thumbs down! That's because you're awesome!
Haha, thanks Paula! I get a few thumbs down, but can't please 'em all... 😂
Hello Mr. Walsh - thank you so much for your channel and the help you give landlords in California. I’m going to call your company tomorrow to see if you can help me as I never knew something. I cash keys existed and I really need to get a terrible tenant out of my property so I’m thinking about doing a cash for keys deal with these people to get them out. Thanks again for your helpful channel.
Good to connect and good luck!
Appreciate info 🙏
Thanks for watching! 😍
Educational for sure
Thanks for watching! 😍
Initially, I'm thinking, Wow, really, my tenant owes me over $12,000 due to being out of work from Covid. It seems like it ought to be more like some debt forgiveness🤔 over paying out money....
Thank you for posting your educational videos! 👍🏼
Thanks for watching! Yes, I completely understand...it's tough to stomach paying someone who owes money, but it still may be cheaper in the long run. Of course, make sure you and the tenant apply for the rental assistance that's out there....then you can offer cash for keys, if that's what makes sense for you.
This might be another contract what if tenant kept money and stay to get evicted rather do they get evicted faster ?
@@Genesis--me8ud Great question! We'll cover in the next video because the cash for keys agreement addresses this.
The tenants are above the landlords!!!! Wow, what a country!
We're trying to sell out in San Berdu before the market tanks.
Would pay $ 5000 to $ 10000, but sometimes even that isn't enough if the tenant gets greedy or is "coached ".
Yes, cash for keys can be a challenge if there are unrealistic expectations! 👍
Great info!
Update: 🏠Officially in escrow! I will be a landlord in 30 days 😳😱 Locked in 2.99% Tenant lease up in October.
Woohoo! Congrats Lizzy, that's amazing!
@@WIREassociates Thank you!
howd that work out
Don’t be right check everything I have to fight year history of the tenet and if you are in California I don’t wanna comment Trent you’re gonna suffer
I paid my rent on time for 14yrs. A negotiator comes to my apartment with a low ball offer of 11k to move out of my LA apartment. It cost 1k or more for similar apartment plus around 5k to move. I LAUGHED IN HIS FACE
Here's a video for LA on owner move in and cash for keys 👉 th-cam.com/video/2uCqgbXTcKA/w-d-xo.html
That means you would have made 6K…bud what?
I got offered cash for keys ,the owner put up the property for sale . But only giving 2 weeks to move if not 60 days with an eviction . Is that legal
Do you still have to pay a relocation fee for cash for keys? Also, can it be for any reason - ie. They pay on time but you just want to move in before the 60 days?
If a relocation fee is required usually that is also covered by the cash for keys. Of course, make sure you have that in writing with the tenant. As for no fault just cause termination, as of 10/1/21, yes.
If we generate the “cash for keys” agreement and if tenant don’t agree to sign the paperwork, can we serve them eviction right away?
No, it doesn't work that way, Linda. Cash for keys is negotiable...neither tenant nor landlord has to agree. But if they do agree AND the tenant signs the agreement, but doesn't move out in the agreed upon time, THEN you could potentially move forward with an unlawful detainer (eviction). Make sure to discuss with a good local eviction attorney.
Can I use the lease agreement from the association of realtors even though I don’t have a realtor I’m working with? Can I get a copy of the agreement if I’m allowed to use it?
You theoretically could do that, just make sure that it's the most recent version of whatever form you're going to use. You can also reach out to your local apartment/landlord association and join to use their forms.
What if a property is being sold and the new owner is purchasing the home to live in but the tenant who was paying rent on time refuses to leave ? Closing takes place after the end date of the lease.
If it's in California, then the tenant can be evicted if the appropriate steps are followed. Here's a video on the 60 day notice: th-cam.com/video/kw60zmLnfYU/w-d-xo.html
The buyer may want to extend the closing date just to make sure the tenant moves out...
I am a "no-fault" tenant for 24 years at a property that was sold without my knowledge. The new owners are only offering $12,500 - cash for keys. What are my options to get more money to move?
You can try discussing with Legal Aid in your area or visiting lawhelp.org to discuss with an attorney for guidance.
What are you fees I need help almost 10 years and only $1000 offer, pritty bad condition, mold no AC no reliable electric @@WIREassociates
My landlord ( ex sister In law) sold the property for cash. I've been paying my rent for the back house. ( it's my self & my three daughters) the new landlord didn't know we were still living there and that we weren't aware that the property was sold. They asked if I would take cash for key but never was given a number to work with ) I don't know what to do because they also had a senor renting the garage as a house . What is the idea amount I should be getting if the property was sold for 679k
Sorry you're in this situation, Linnet! I'd keep asking them to offer a number first. Otherwise, think about what it will cost for you to move and what you'll need to rent the next place (deposit, etc.) That would be a good place to start, but remember that it's fully negotiable.
So when they gave me a 60days notice to substantially remodel the unit which I didn’t pay my rent for the month of September signed a notice due to Covid which protected me through September and the 60 day notice was not given court order that my living arrangements was unlivable
You need to reach out for legal assistance ASAP. You can find free or low cost legal assistance by looking for Legal Aid in your area and/or visiting lawhelp.org. A good local attorney will help you understand your rights in your specific situation. Good luck!
So, just inherited and apparently the new tenant had an eviction pushed on him. Went thru court and everything, but the owner never pushed it through sheriff to serve him. I have the Execution for Possession letter towards the owner, but previous owners name. But judge signed for tenant to be out. Would I be able to use this?
Seller never disclosed this info to me, sounds like withholding the info to me…
I'd get an attorney involved ASAP...that's a material fact that should have been disclosed. You could probably force the previous owner to get the tenant out...or rescind the sale. Did the listing agent know anything about it?
I am a no fault tenant and have live at my residence for 24 years. My building was recently sold and the new owners will only pay me $12,500 plus six months to vacate my home of 24 years. What are my options?
I believe you're in LA, based on a comment in another video. See if this applies to you: hcidla2.lacity.org/rental-property-owners/tenant-buyout-notification-program and you can also reach out to Legal Aid in your area or visit lawhelp.org to discuss with an attorney.
Buy your own house!
Is it mandatory for landlords to pay cash for keys in Los Angeles?
You'll need to see if the rental is covered under this LA program: hcidla2.lacity.org/rental-property-owners/tenant-buyout-notification-program
Hello, I hope I can get a response! A cash for keys was agreed upon and followed through appropriately and paid out funds. But the property back doored and still sued in court. Is that not a valid agreement? How can they still sue???? Thank you
Sorry, can you clarify: who sued in court? Landlord or tenant?
@WIRE Associates - Christian Walsh A management company agreed and paid out a tenant cash for keys. Then one month later, sued them " past tenant" in court for unpaid rent
Can they give you only 2 weeks to move out when your offered cash for keys
Under cash for keys, everything is negotiable...the amount of money and time for move out. See if there are local requirements for relocation assistance and make sure the cash for keys offer is at least that amount.
What should tenants do, if 2/3 of roommates want to take a deal but only 1 refuses ?
Unfortunately, not much you can do...cash for keys only works if all tenants agree. Just make sure #3 knows the outcome if you don't take cash for keys...whatever it may be in your situation.
@@WIREassociates would a majority rule situation come into play or is that a grey area on how it can be resolved ?
Thanks for the help!
I am a "no-fault" tenant and have been diligent in paying rent for 15 years at my apartment. It was recently was sold and the new owner is planning to build a new apartment and wants to remove all of us and offered us cash for keys. If I refuse the offer and continue to pay rent, they can't evict us right?
It depends on where the property is, for example LA County or LA City, they would have a hard time evicting you. Discuss the situation with an attorney from lawhelp.org.
@@WIREassociates Thanks. Yes, I live Los Angeles.
How can I move plus clean up in 2 weeks to me that's not fair
With a big enough relocation fee it could be worth it...ask for more money.
I'm here because I saw property I like and I said Yeahhhhhh. Then I saw tenant occupied and I said, Oh No, it's probably one of those no rent ones.
Is there a form you recommend?
Here's a video I did on the CAR form 👉 th-cam.com/video/xF0S1QVYqc4/w-d-xo.html
@@WIREassociates thanks for the reply. Just so you're aware, there is supposedly an updated form due to a new case (Frank Antenello VS Sam Basilious)
@@halodave thanks for the heads up! That video was an old one....definitely time for an update! 👍
@@WIREassociates yes they morphed it into an offer to surrender.
Hi Christian, is cash for keys going on still? I’m not sure what to do at this point. My landlord refuses to accept any payment, so it’s become very uncomfortable, as there is no communication of anything that’s going on. Thanks ton!
Yes, Cash for Keys is legal. Where's the property located?
@@WIREassociates I’m in a studio in Manhattan Beach
Please leave the property and give the keys back to the landlord!!!
@@ChatBloom why? And who are you?
What if we pay them and they don’t move out , then what ?
You don't give the $ until you meet after they have moved out.
@@WIREassociates what if the tenant are really bad and threatens us and doesn’t want to pay rent and if we offer them cash for keys what happens if they don’t accept .
How about she want wave only no cost for a key I gave her cash for a key and she refused. She want waive and she didn’t pay for two months. She wanted me to take her to court. And she is section 8 in Okland C A she pay more than the housing ?
They shouldn't pass out checks if it's even call cash for keys
Thats ok bro, even lawyers cant give legal advice nowaddays lol
Haha! I've heard a few say that! Good luck out there!
@@WIREassociates Thank you! Great work by the way! Appreciated
Can lawyer help me do cash for key ？
Yes, you can hire an attorney who specializes in evictions to negotiate cash for keys.
😂 That's all? $2500 cash for keys? I'd want $50K sent to me in MONERO!
Haha! And you're worth it and more!!
Q: the owner of my home purchased the property along with several others with profits derived from sophisticated money laundering, tax evasion and being a marijuana smuggling kingpin before serving 12.5 years in prison. Is it a State Secret why the IRS/DEA/DOJ did not seize this property? If not, where can the convicted felon owner's "silent partners" identity be learned? Did informants get sweet deals in 2004?
You buy. You rent. There's two sides to the story.