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Updated over 9 years ago on . Most recent reply

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Wanda Singhisen
  • Investor
  • Oklahoma City, OK
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cash for keys

Wanda Singhisen
  • Investor
  • Oklahoma City, OK
Posted

What is this I keep reading about cash for keys. Who picks the dollar amount and how much time is given for tenets to vacate? Does it relinquish all lease Agee mentioned and is it really legal?  Just wondering. 

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

I did a cash for keys last month.  With the truck loaded and after a quick walk-through, I had the tenant sign a receipt (that's important), hand over the keys and I gave the money. I then immediately changed the locks.

This person was not dangerous, per se.  He just invited shady people over to 'help them'. I don't recommend a lady ever meet a potentially volatile situation or person alone.  Bring a bat and a big friend or 2 @Wanda Singhisen!

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