Also known as a tenant buyout or “cash for keys,” a tenant surrender of possession agreement is a contract where typically, in exchange for compensation or rent waiver or both, both parties release all claims arising out of the tenancy.

Although our office has handled more of these agreements in the heyday of little oversight and relaxed rules, Bornstein Law still uses this vehicle quite a bit to secure vacancies, especially when there are no legal grounds for a proper termination notice.

Distrustful municipalities throughout the Bay Area, however, have enacted strict regulations governing the negotiations of buyouts. We share the deadlines and disclosures here, along with a checklist of items our office needs to begin the process. 

We’ll also avail the opportunity to share changes in store for landlords in Concord and Hayward and invite you out to a September 17th event to discuss everything property management and rent control.
Get the rules straight from the source.
The documentation for tenant buyouts is specialized, deadlines are unforgiving, and disclosure requirements must be followed to the letter. Download these handy resources.
Items we need to draft a Tenant Surrender of Possession Agreement. Once we have this information, our turn around time is 48 hours.
IN OTHER NEWS
In an earlier alert on Hayward's hastily inked emergency "just cause" eviction ordinance, we promised an update as a more permanent solution took shape. Now that the city has developed a comprehensive package of proposals to protect tenants' rights, we'll highlight key provisions of the Rent Stabilization and Tenant Protection Ordinance (RRSO)

Concord’s long discussion on rent control and tenant protections has recently come to a head when the Concord City Council convened a special meeting to weigh recommendations from the Ad-Hoc Committee on Rental Housing, giving us a window into what Concord rent control will look like.
Join Bornstein Law and Bay Property Group Tuesday, September 17th to discuss best practices in property management and a refresher on rent and eviction controls .

Some of you may be fatigued by our invites to the Fort Mason Center over the years, but we promise to break up the monotony by having Bay Property Group in the house, the Bay Area's leader in developing and maintaining successful rentals through a comprehensive management approach.