Cash for Keys

An informal payment to a resident to leave the property voluntarily, avoiding court-ordered eviction.

Cash for keys is an offer made by an operator to a resident facing eviction or non-renewal, in which the operator pays a small sum (typically $500 to $1,500 in MHP) in exchange for the resident voluntarily vacating, removing the home, or signing a release. The arrangement avoids court costs (often three to ten thousand dollars in legal fees), avoids the time of the eviction process (60 to 180 days), and avoids potential damage to the lot during a contested eviction. Operators document cash-for-keys agreements in writing and require a release of claims as part of the deal.

Related Terms

Eviction

The legal process of removing a resident who has violated their lease or is delinquent on rent.
Notice and Cure

A formal process where a landlord notifies a resident of a lease violation and gives time to correct it.

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