Tenant buyouts (sometimes called “Cash for Keys”) are agreements in which tenants agree to move out of their home in exchange for payment from their landlord. Sometimes, landlords want to regain possession of the property for innocent reasons, but frequently they do it to raise the rent on a new tenant.
Regardless, landlords often resort to high-pressure tactics when trying to convince a tenant to enter into a buyout agreement. In response, many of the cities in the Greater Los Angeles area have enacted ordinances designed to protect tenants.
It is important for tenants always to remember that they are never required to accept or sign a buyout agreement. It is also important for tenants who enter into a buyout agreement to understand the rights they have before and after they sign. Tenants should also be cautious about making sure they receive a sufficient amount of money in exchange for moving out of their home and giving up certain rights.
If your landlord has discussed a buyout agreement with you, you need competent and reliable legal representation. Our attorneys have extensive experience negotiating, drafting, and enforcing buyout agreements on behalf of tenants.
If your landlord is seeking a buyout, or you are contemplating a buyout agreement, contact a LA Tenant Lawyer to discuss your case.