Santa Ana requires landlords offering cash-for-keys buyout agreements to provide tenants written disclosure of their just-cause rights, a 30-day rescission period, and to file the executed agreement with the city for transparency.
Cash-for-keys deals are landlord-tenant buyouts where a tenant accepts payment to vacate a rent-stabilized unit voluntarily. Santa Ana requires that any buyout offer be preceded by a written notice listing the tenant's right to refuse, the right to consult an attorney, and the right to rescind within 30 days of signing. Buyout agreements must be filed with the city to track displacement patterns. Buyouts with vulnerable tenants face heightened scrutiny. Failure to comply makes the agreement unenforceable and exposes the landlord to relocation-pay liability as if the unit were a no-fault eviction.
Soliciting buyouts without prior written notice of tenant rights, missing the 30-day rescission window, or failing to file the agreement renders the buyout unenforceable.
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