What is a cash for keys agreement?
A cash for keys deal is often quicker and cheaper for both sides than a contested eviction: the landlord gets the property back on a known date and the tenant leaves with money for the move. It only works if the terms are written down clearly and the payment is tied to the handover.
This template sets the move-out date and time and what the tenant must do by then: leave with everyone and everything, broom-clean, and hand back every key. You set the payment and can pay part up front. You choose how rent up to move-out and the deposit are handled. The payment is made at the handover after a joint check, then a mutual release ends claims about the tenancy, with the usual exceptions.
- Best for
- Ending a tenancy by agreement in exchange for a payment
- Signed by
- Landlord and every adult tenant, initialled on every page
- Options
- Part payment up front, three rent choices, three deposit choices
- Length
- 2-3 pages
When to use a cash for keys agreement
- A landlord selling a house who needs it empty by closing
- Settling a dispute instead of going to court
- A tenant behind on rent who would rather leave with a fresh start
- Renovating a building that can't be done with residents in place
- An inherited property with a tenant on a rolling tenancy
What you fill in
14 blanks, then the name and email of each person who signs: landlord, tenant.
1 The tenancy
- Date of this agreement*
- Landlord*
- Tenant name(s)*
- Address of the rented property*
- Date of the lease (optional)
2 Moving out
- Move out by*
- Time on that date*
3 The payment
- Currency*
- Payment to the tenant*
- How the payment is made* by bank transfer to an account the Tenant names in writing · by cashier's cheque handed to the Tenant · by cheque handed to the Tenant
- Part paid when this agreement is signed (optional)
4 Money matters
- Rent until move-out* The Tenant does not have to pay rent for the period from the date of this agreement to the move-out date, and any rent owed before this agreement is waived. · The Tenant will keep paying rent as normal until the move-out date. Any rent owed before this agreement is waived. · The Tenant will keep paying rent as normal until the move-out date, and any unpaid rent stays owed and may be deducted from the payment.
- Security deposit* The Landlord will return the Tenant's security deposit in full with the payment, without deductions. · The Landlord will deal with the Tenant's security deposit in the usual way, under the Lease and the law, after the Tenant moves out. · No security deposit is held.
- Governing law*
5 Who signs
- Landlord signature and date, job title, initials on every page · The landlord, or the person signing for a landlord company.
- Tenant signature and date, initials on every page · The tenant moving out. Every adult tenant on the lease should be named above and sign.
What the cash for keys agreement covers
- The deal in brief
- Moving out
- The Payment
- Rent and deposit
- End of the tenancy
- Release
- References and general
Using the cash for keys agreement, step by step
1 Name the parties and property
Enter the landlord, every adult tenant, the property address and, if there is one, the lease date.
2 Set the move-out
Choose the move-out date and time. The handover conditions — empty, broom-clean, keys returned — are written in.
3 Agree the money
Enter the payment, how it is paid and any part paid up front. Choose how rent until move-out and the deposit are handled.
4 Send it well before the date
Add the governing law and send it with enough time for the tenant to read it and plan the move. Both sides initial each page and sign at the end.
Tips before you send it
- Encourage the tenant to get independent advice. The agreement says they were told they could.
- Some places have specific rules on buyout or surrender agreements, such as required notices or a cooling-off period. Check before you use it.
- Arrange the handover in person, check the unit together and pay on the spot, so nobody has to trust the other for days.
- Change the locks after the handover and file the signed agreement and key receipt together in your vault.
Sign it online in minutes
- Fill in the blanks. Names, dates and amounts go straight into the agreement — the preview shows exactly where.
- Name who signs. Tick “This is me” for your own part. FileIt builds the PDF with every signature, date and initials box on the right line, and you can check or move anything before sending.
- Send it. Each signer gets a secure link and signs from any device — no account needed. The signed PDF, with an audit trail and a Certificate of Completion, is filed in your vault and emailed to everyone.
Cash for keys agreement: frequently asked questions
What if the tenant doesn't leave on time?
The remaining payment is only made at the handover once the conditions are met. If the tenant is late or a condition isn't met, the landlord doesn't have to pay the rest, though the parties can agree a new date or a smaller amount in writing.
Does it stop an eviction case already started?
The landlord agrees not to take further steps while the deal is on track, and to end or pause the case after the handover as that process allows. If the tenant doesn't move out on time, the landlord can continue.
What does the release cover?
Once paid in full, both sides drop claims about the tenancy and the property up to the move-out date. Obligations under the agreement, the deposit as chosen, and claims the law doesn't allow to be released are kept.
Can a cash for keys agreement be e-signed?
Generally yes. It is a private contract, and e-signatures are accepted for contracts like it in the US, UK, EU and Canada. Where local law requires a specific form or notice for ending a tenancy, follow that as well.