How Cash For Keys In Louisville Works

If you are a landlord or property owner, you might be familiar with the term ‘cash for keys,’ a strategy used primarily to avoid the long, expensive process of evicting a tenant. How Cash For Keys In Louisville Works? If you haven’t heard of it, or if you’re looking for more information on how it works, this blog post will provide you with all the details you need to know.

What is Cash for Keys?

Cash for keys is a simple and straightforward concept. Instead of going through the tedious and costly eviction process, a landlord offers the tenant a sum of money to voluntarily leave the property. This strategy benefits both parties: the landlord can regain control of the property without the hassle of eviction, and the tenant avoids having an eviction on their record.

How Cash For Keys In Louisville Works

How Does Cash for Keys Work?

Initiating a cash for keys strategy involves the following steps:

  • Communication: Talk to your tenant about the situation. Explain that instead of going through the eviction process, which could potentially harm their credit score, you are willing to offer them a certain sum of money if they agree to move out.
  • Offer: The amount of money offered varies, but it can range from $500 to $1000 or more. This money can help the tenant cover moving expenses or the cost of finding a new place to live.
  • Agreement: If the tenant agrees to the offer, they will move out, take their belongings with them, and hand over the keys to the property. In some cases, you might even offer to help them move.

Why Choose Cash for Keys?

The cash for keys approach is beneficial for several reasons:

  • Cost-effective: Evicting a tenant can cost hundreds, if not thousands, of dollars. Factoring in the time it takes, which also costs money, cash for keys can be a more cost-effective solution.
  • Time-saving: Evictions can be a long, drawn-out process. Offering cash for keys can save you valuable time.
  • Less stress: Evictions can be stressful for both landlords and tenants. Cash for keys can be a less stressful alternative.

Getting Help with Cash for Keys

If you’re considering the cash for keys approach but are unsure about the process or need help, don’t hesitate to reach out to a professional. For instance, you can contact us at 502-461-1450. We have experienced professionals on our team who can provide you with free advice.

If you need a cash for keys document for your tenant to sign, Borders and Borders, located at 920 Dupont Road, can provide or draft one for you.

Referral Program

If you know someone looking to sell a property, refer them to us. When we buy their property, you’ll receive a check for $1,750 at the closing table. It’s our way of showing appreciation for your trust and support.

Thank you for reading about How Cash For Keys In Louisville Works. We hope this guide has helped you understand the cash-for-keys strategy. Remember, if you have any questions or need assistance, don’t hesitate to reach out to us. Have an amazing day!

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How Cash For Keys In Louisville Works
Video Transcript

What is cash for keys? Have you ever heard this terminology if you’re an owner or a landlord? So, what this means is instead of evicting a tenant and going through that long, drawn-out process that costs hundreds of dollars, if not thousands, if you have to have people come in and set their stuff to the curb, it costs thousands of dollars to evict somebody. Nobody wants to go through that, and time costs money. So, what is a very viable situation that people do? It is cash for keys. So, essentially, cash for keys is where you talk to your tenant, you’re like, ‘Hey, instead of us going through all kinds of stuff and maybe me having to evict you, that going on your record, what if I gave you 500 or a thousand bucks for the keys to the property? We sign them over, you move out, get all your stuff out, and I can even help you move it.’ So, cash for keys is essentially where you offer money to a tenant who is currently living in the property to move out before having to evict them or go through that process. And this works a lot of times because nobody wants to go through an eviction or go through that process. Nobody wants to do that. So, if you’re able to do cash for keys in this situation, then that helps you out as the owner by being able to get access back to the property. And if, when you get to the property, if you just don’t want to fix it up or you want to offer it to see what you can get on it, please give us a call at 502-461-1450, again, 502-461-1450. We’d love to give you an offer for it. Or if you just have any questions in general about cash for keys or evictions or tenants, please give us a call. I’ve been through a lot of those situations, so me or one of my team members will be able to help you out with some free advice for that. So, thank you all for watching, and hopefully, you can get your tenant out with cash for keys. And if you need a cash for keys document for them to sign because they need one, please call Borders and Borders. They will be able to provide a document for you or draft one up for you. Again, that is Borders and Borders at 920 Dupont Road. And we also have a referral program. So, if you know anybody looking to sell a house, send them our way. Their phone number and name, we’ll call them, and whenever we buy their property at the closing table, you’ll get a check for $1,750. Thank you and have an amazing day.

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