TENANT BUYOUTS "CASH FOR KEYS"
Tenant buyouts (aka “Cash for Keys”) are increasingly popular in rent-controlled cities in California, which otherwise limit the landlord’s ability to regain possession of a controlled rental, rehab the unit and increase rents to fair market value.
Landlords are obligated to follow several steps and meet certain guidelines for a buyout to be legally binding. The laws and ordinances are designed to protect tenants, so making sure everything is done correctly and completed on time is critical to a successful buyout.
Tenants have the right to refuse any offer presented to them and many cities allow tenants up to 45 days to cancel an agreement after they sign. The tenant may also assert an affirmative defense to an unlawful detainer action if the landlord does not meet all of their obligations.
Tenant buyouts are an art form. It takes the right balance of understanding perspectives and equal level of empathy for both parties. Deals are not often struck right away. My approach is to be consistently persistent without making a tenant feel intimidated or forced. I handle the buyout process from beginning to end reducing landlord-tenant tension. My services include:
Presenting Initial Offer
Calculated & Consistent Follow Ups
Preparing Disclosures & Agreements
Filing Disclosures & Agreements with RSO boards
As your advocate, I will keep you informed of the progress throughout the process and make myself available to answer any questions you might have. My goal is to make the tenant buyout process as easy and stress-free as possible for you.