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General Landlording & Rental Properties

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Allan Smith
  • Developer
  • Nashville, TN
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Does Cash For Keys include the Security deposit? 1 Other Question

Allan Smith
  • Developer
  • Nashville, TN
Posted Nov 19 2018, 13:22

1. If I offer a tenant $500 cash for keys, do I also give them the security deposit even though I don't have rent late into the month?
2. When exactly does one offer this? If grace period ends on 5th of month, sending a letter offering cash for keys right away sounds a bit rash, especially since if they end up paying, they know they can try to get paid in later months to leave.  But if you offer it after they still haven't paid from the pay or quit notice, it's so late into the month even if you only give them a couple days more to move. 

Just trying to establish my process for my tenant who lied about mailing rent, and process for future tenants as well! Thanks!

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