Updated about 11 years ago on . Most recent reply
Cash for keys
My wife and I bought our first 4 family two months ago. There are three occupied units and we are renovatimg the vacant unit now. One tenant has been 2-3 weeks late with rent both months and anticipates being late again next month. I am planning to offer her a "cash for keys" deal to forgive her rent in exchange for moving out in two weeks. Assuming that we can come to an agreement, how do I document the arrangement? Is there a formal lease modification form? Write it up in plain english and sign? Thanks.