Cash for Keys Explained
Insurers during mediation may offer cash for keys and ensure it is legally binding. Without insurance, proceed with caution and only pay once vacant possession is obtained.
Updated 15 January 2026
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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 and Legal Protection if not handled correctly.
Let your insurer deal with it
Insurers during mediation may actually offer this option and they will ensure that it is legally binding. Let your insurer deal with this element — but if you don't have insurance, be careful.
Get it in writing
Ensure that you have everything in writing and only pay the agreed amount once Vacant Possession has been obtained. Use a written settlement, witness the property handover, and change locks only after confirmed vacation. Keep receipts and correspondence for tax and claim records.