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Possession
Cash for Keys Explained
Paying a tenant to leave voluntarily can seem faster than court, but it must be documented carefully. Inform your insurer before agreeing any settlement.
Updated 15 January 2026
Cash for keys — paying a tenant a lump sum to vacate — can shorten void periods, but it sits outside standard possession routes and may affect rent protection if not handled correctly.
Before you offer anything
Check your policy terms. Some insurers require ongoing possession action; abandoning proceedings without approval can affect cover. Get written agreement from the tenant and a clear vacate date.
Document everything
Use a written settlement, witness the property handover, and change locks only after confirmed vacation. Keep receipts and correspondence — they may be needed for tax and claim records.