Tenant buyouts (sometimes called “Cash for Keys”) are agreements in which tenants agree to move out of their home in exchange for payment from their landlord. Landlords often use psychological tactics to pressure a tenant to move out: false or exaggerated landlord claims, demands for inspections, withholding communication or collection of rent.
You do not have to accept or sign any buyout agreement. If your landlord has discussed a buyout agreement with you, stop discussions and get a lawyer to help you understand your rights. Attorney Louis Anthes has extensive experience negotiating, drafting, and enforcing buyout agreements on behalf of tenants.
Tenants should know that the two most important factors to a buyout agreement is TIME and MONEY: when does the tenant want to leave and how much money does the tenant want. A tenant should rely upon a lawyer to help them prioritize the terms of any buyout deal.
If your landlord is seeking a buyout, or you are contemplating a buyout agreement, make an appointment for assistance.