Memphis, TN · Member since 2015 · 20 posts · 2 votes
We have unexpectedly decided to sell our personal home and will need somewhere else to live in the next month or two. We own a rental property that has tenants who always pay late, we have to hunt them down to get rent, and they have done repeat damage to the home. We were already planning to not re-lease to them when their lease ends. My preference would be to ask these folks to vacate the property early so we could move in and have somewhere free to live until we find a new home to buy.
Knowing them, I am positive if we offered cash for keys, they would move out early. My question is: how much? 1 month's rent in cash? 2 months? They will only have about 3 months left on their lease by the time they'd need to move.
Also, will we need to draw everything up in writing and have them sign agreeing to the new terms, to over-ride our current lease agreement?
Check your state landlord tenant regulations. Most will allow owner to evict for personal occupancy. If allowed you do not need to pay them anything just ask them to leave and if they refuse evict them. You do not need to bribe them to leave.
If on the other hand you would prefer to offer a bribe just ask them how much they want and pay it. No point in risking offering too much or too little.
San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
10y
For all you know, they'd love to get out of their lease. Why not first go talk to them and tell them that you're planning on moving into the rental when they move out, and was wondering if they'd like to move early.
Who knows, maybe you'll get lucky and it won't cost you anything extra.
If they say they don't want to move early, ask them if they'd move early for one-month's rent, and their full security deposit on move-out day - if they leave the place clean.