What it means
Cash for keys is a voluntary deal: the owner (or buyer) pays a tenant, relative or former owner a set amount to move out by a date and hand over keys, often broom-clean. It's usually faster and cheaper than eviction and avoids court records for the occupant. The agreement should be in writing, with payment made at move-out after a walkthrough.
A landlord offered his tenant $2,000 to move in 30 days instead of a three-month eviction. The tenant left on day 28 and was paid at the walkthrough.
Why it matters to you
When a notice, a death in the family or a house you can't keep shows up, the words on the paperwork decide your deadlines and your choices. Understanding them early keeps more options — and more of your equity — on the table.
What to know and do
Offers often roughly equal one or two months of rent or moving costs.
Some buyers handle cash-for-keys themselves after closing.
Local tenant protection laws may require specific notices or relocation assistance.
Agree on amount, date and condition in writing.
Confirm who else lives there.
Do a walkthrough on move-out day.
Pay and collect all keys.
- Typical payment
- Often around $500–$5,000
- Typical timeline
- 2–6 weeks
- Eviction alternative
- Often faster and cheaper
Rules, deadlines and forms vary by state, county and the exact wording of your loan, court or tax documents. For decisions with legal or tax consequences, talk with a licensed attorney, tax professional or HUD-approved housing counselor. This is general information, not legal advice.
General information, not legal advice. Rules vary by state.
- Include utility final readings in the agreement.
- Have both parties sign and date.
- 1Agree on amount, date and condition in writing.
- 2Confirm who else lives there.
- 3Do a walkthrough on move-out day.
- 4Pay and collect all keys.
Paying the full amount before the occupant leaves.
Tell us the address and what's going on. We pull the property facts, show you your options side by side — including ones that don't involve selling to us — and never pressure you to sign.
See every situation we help withQuestions about Cash for Keys
What is Cash for Keys in real estate investing?
An agreement paying an occupant to move out by a set date and leave the home in agreed condition. Cash for keys is a voluntary deal: the owner (or buyer) pays a tenant, relative or former owner a set amount to move out by a date and hand over keys, often broom-clean. It's usually faster and cheaper than eviction and avoids court records for the occupant. The agreement should be in writing, with payment made at move-out after a walkthrough.
Why does Cash for Keys matter to investors?
When a notice, a death in the family or a house you can't keep shows up, the words on the paperwork decide your deadlines and your choices. Understanding them early keeps more options — and more of your equity — on the table.
What's the most common mistake with Cash for Keys?
Paying the full amount before the occupant leaves.
Are there legal risks with Cash for Keys?
Rules, deadlines and forms vary by state, county and the exact wording of your loan, court or tax documents. For decisions with legal or tax consequences, talk with a licensed attorney, tax professional or HUD-approved housing counselor. This is general information, not legal advice.
Is cash for keys legal?
Yes, as a voluntary agreement.
How much should I offer?
It depends on rent, market and timeline.
What if they don't leave?
You may still need to evict.
Can a buyer handle it?
Often, yes.
Dealing with this right now?
Get a no-pressure cash offer and see all your options side by side. No repairs, no showings, and you choose the date.