Cash for Keys

Bex_27

2bFrank said:

We rented a property a while back (well before COVID), the tenents got 3 months behind on the rent. S8 was given but the courts system takes for ages by the time it would have reached the courts it could have been 8-10 months without any rent.

It was naughty of us, but we made an offer to the tenent, forgo the missing rent, £500 towards moving costs and deposit returned (even though they had damaged the property, which cost over £1000 to fix), they played silly beggers at first, but I brought a car full of my mates, as soon as they got out the car, they accepted the offer and was out by the end of the week.

The system is broken, but its not the tenents fault, nor the landlords. The tenents have protection due to bad landlords (technically I one of them, bringing my mates), but at the same time I couldnt afford to lose all that rent, so you have to do what you have to do. Best bet, offer a big sum of money, and ask to be out near immediately, i.e not months, they can change their mind, COVID could get worse and unable to move, then look at other options.

Wow, to not pay rent is just despicable. I would have done the exact same thing, you can't wait for the court system to catch up because by that point you would have lost a load of money that you'll never get back.

Ours is a bit easier because the tenant does pay etc. but we need him out as soon as possible. We have suggested £750 as a starting point but would go up further if needs be. We don't want to give him thousands but we will do what we can.

Comms69

Bex_27 said:

2bFrank said:

We rented a property a while back (well before COVID), the tenents got 3 months behind on the rent. S8 was given but the courts system takes for ages by the time it would have reached the courts it could have been 8-10 months without any rent.

It was naughty of us, but we made an offer to the tenent, forgo the missing rent, £500 towards moving costs and deposit returned (even though they had damaged the property, which cost over £1000 to fix), they played silly beggers at first, but I brought a car full of my mates, as soon as they got out the car, they accepted the offer and was out by the end of the week.

The system is broken, but its not the tenents fault, nor the landlords. The tenents have protection due to bad landlords (technically I one of them, bringing my mates), but at the same time I couldnt afford to lose all that rent, so you have to do what you have to do. Best bet, offer a big sum of money, and ask to be out near immediately, i.e not months, they can change their mind, COVID could get worse and unable to move, then look at other options.

Wow, to not pay rent is just despicable. I would have done the exact same thing, you can't wait for the court system to catch up because by that point you would have lost a load of money that you'll never get back.

Ours is a bit easier because the tenant does pay etc. but we need him out as soon as possible. We have suggested £750 as a starting point but would go up further if needs be. We don't want to give him thousands but we will do what we can.

Then you'd have lost a 5 figure claim....

And @2bfrank is telling porkies anyway, based upon his post history he's a bit of a fantasist. 

Tropically

Bex, I haven't done cash for keys myself as a landlord, but I absolutely would. I know that it can work really well and £750 is a good rate for an average person. Good luck! 

sweetsand

Dear OP
Please have an independt witness and papers ready to be signed and witnessed and then hand over the cash and this is to be done when he has moved stuff and self out preferrbly in the front garden as this protects both sides. He may want more noting how desperate you are.

Bex_27

Tropically said:

Bex, I haven't done cash for keys myself as a landlord, but I absolutely would. I know that it can work really well and £750 is a good rate for an average person. Good luck! 

It seems like something that gets done but not spoken of often, all of the references I have found are American. I thought £750 was a good starting point but we'd go up if he needs it. Thank you!

Bex_27

sweetsand said:

Dear OP
Please have an independt witness and papers ready to be signed and witnessed and then hand over the cash and this is to be done when he has moved stuff and self out preferrbly in the front garden as this protects both sides. He may want more noting how desperate you are.

Thanks for your response. I did think about an independent witness and now you have said it, I will ensure we do. I have written up an agreement document but I have said we'd give it to them beforehand if they need it, perhaps if they do then we will say we will pay the agent directly and then anything more to them after they move out. Hopefully, if we need to give him more we can have a proper conversation with him and tell him why etc. 

Comms69

Bex_27 said:

sweetsand said:

Dear OP
Please have an independt witness and papers ready to be signed and witnessed and then hand over the cash and this is to be done when he has moved stuff and self out preferrbly in the front garden as this protects both sides. He may want more noting how desperate you are.

Thanks for your response. I did think about an independent witness and now you have said it, I will ensure we do. I have written up an agreement document but I have said we'd give it to them beforehand if they need it, perhaps if they do then we will say we will pay the agent directly and then anything more to them after they move out. Hopefully, if we need to give him more we can have a proper conversation with him and tell him why etc. 

What you want is a deed of surrender and it must be written and witnessed. 

2bFrank

Fantasist , you are worse than Trump with his fake news. '000 cases that cost the landlord 5 - 6 figures, where have you got these cases, searching through the internet, I can name a couple of high profile landlords that have been punished but thats it.

Just because I do not agree with you doesn't make it untrue. Yes I have been a bit naughty in the past and have asked for advice on here, I am no angel, however I do know how the justice and legal system works. You are right the police do not have to attend to investigate, but what on earth thinks that they will investigate something like that, they will give you a reference number and thats the end of it.

If you get a officer that actually cares, worst they will do will be to interview, I would simply say you got aggressive, I defended myself, or if I partially do not like the officer I would just "no comment", and thats that. CPS won't push it through as lack of evidence, and even by some miracle they proceed, and agreed to be heard, the trial won't be set for at least 3 years, thats plenty of time for witnesses to forget etc.

And even then after all that, by some fluke you win, ill get a bit of community service and pay a few grand in comp and surcharges. Work it out, rent is £1200 * 10 months unpaid (prob even longer now in this climate) vs the minimal risk of getting caught, I will still be less out-of-pocket. In this country crime pays, it's a very sad fact.

Good luck though OP hopefully the tenant will be able to find somewhere, and move out sharpish.

Bex_27

He didn’t accept it due to personal reasons. We have offered £1,500 and will do £2k but if not we will pull out of our house  

moneysavinghero

2bFrank said:

We rented a property a while back (well before COVID), the tenents got 3 months behind on the rent. S8 was given but the courts system takes for ages by the time it would have reached the courts it could have been 8-10 months without any rent.

It was naughty of us, but we made an offer to the tenent, forgo the missing rent, £500 towards moving costs and deposit returned (even though they had damaged the property, which cost over £1000 to fix), they played silly beggers at first, but I brought a car full of my mates, as soon as they got out the car, they accepted the offer and was out by the end of the week.

The system is broken, but its not the tenents fault, nor the landlords. The tenents have protection due to bad landlords (technically I one of them, bringing my mates), but at the same time I couldnt afford to lose all that rent, so you have to do what you have to do. Best bet, offer a big sum of money, and ask to be out near immediately, i.e not months, they can change their mind, COVID could get worse and unable to move, then look at other options.

Giving them a week to get out, you are lucky they didn't change the locks and install cameras to catch whatever your mates decided to do the next time they popped round for a chat. Maybe get a minibus full of their mates to visit you too (as they were passing on their way to play baseball).