Service — Cash for keys in Quebec
A tenant paying rent well below market, a unit sublet for years ? Opti Loyer negotiates a voluntary, compensated move-out agreement for you, then hands back a vacant unit ready to re-rent at its fair value. Pay only for results : you pay only if it works.
How much does a repossession earn you?
* Indicative estimate — annual rent gap capitalized at a 5 % cap rate (× 20). The compensation to the tenant is deducted only once; the value, by contrast, is permanent.
Cash for keys — literally "money in exchange for the keys" — is an agreement whereby a landlord pays compensation to their tenant in exchange for their voluntary move-out from the unit. In practice, the two parties agree to end the lease early : the tenant leaves on a set date and returns the keys, and the landlord pays them an agreed-upon sum. It is a mutually agreed lease termination, fully negotiated between consenting adults.
Why would a landlord pay to recover their own unit ? Because the game is often well worth the candle. When a rent is locked far below market — a 4½ at $700 in an area where it would be worth $1,300, for example — the shortfall runs into the hundreds of dollars every month, and translates into a significant loss of value on the property. Buying out the lease to take back the unit, bring it up to standard and re-rent it at its fair value then becomes one of the most profitable optimization levers there is.
Cash for keys is especially useful in three situations : a rent far below market that no annual increase will catch up with for years ; a sublet unit or one transferred repeatedly that you want to regain control of ; or a project (major renovation, conversion, sale to a buyer who wants to occupy) that requires a vacant unit. In every case, the goal is the same : turn a frozen situation into a clean, fast, win-win agreement.
Yes, unambiguously. The law allows a landlord and a tenant to end a lease by mutual agreement, at any time, and no rule sets or caps the amount of a move-out compensation. Cash for keys is nothing more than that : a voluntary termination, freely negotiated and sealed in writing. Nothing to do with an eviction.
The red line is clear and Opti Loyer never crosses it : we don't force, we negotiate. A tenant who respects their lease has the right to stay, and any form of pressure, harassment, service cut-off or threat is illegal — and counterproductive on top of that. A successful agreement rests instead on respect : we present the tenant with a proposal attractive enough that they themselves have an interest in accepting it. Everything unfolds within the framework of Québec's rental board (the TAL), with a documented agreement that each party signs with full knowledge of the facts.
This page is provided for information purposes only and does not constitute legal advice ; each situation is different and deserves to be evaluated on its own facts.
A unit is not just a monthly rent : it is capitalized income. Every dollar of rent recovered multiplies in the value of your property.
The value of an income property is calculated from its net income and a capitalization rate (cap rate). The rule is simple : the lower the cap rate, the more each dollar of additional income weighs. At a 5 % cap rate, annual income is capitalized by 20 (since 1 ÷ 0.05 = 20). In other words : an income increase of $X per month creates roughly X × 12 × 20 in value.
This is what makes buying out a lease so powerful. You pay the compensation only once ; the rent gain, on the other hand, repeats every month and durably boosts the value of the asset.
Taking back this unit raises the income from $8,400 to $15,600 per year, or $7,200 more. Capitalized at a 5 % cap rate, that represents about $144,000 in added value to the property. Against such a gain, a move-out compensation of a few thousand to a few tens of thousands of dollars remains largely profitable — and that is precisely the calculation Opti Loyer runs with you before making a move.
A structured, discreet and respectful process — designed to maximize your chances of an agreement and secure every step.
We analyze your unit, the lease in place and the market rent to measure the real gap and the value its repossession would create. You get a quantified assessment and a profitable target offer — no commitment and no charge.
We reach out to the tenant in a calm, transparent and pressure-free way. The goal : present cash for keys as an opportunity for them too, build trust and open a real dialogue rather than a standoff.
We lead the negotiation on your behalf : amount of the compensation, move-out date, conditions for handing over the unit. A neutral intermediary almost always gets a better result than a direct discussion between landlord and tenant.
We draft a complete, airtight termination agreement — parties, address, key-handover date, compensation, condition of the unit, mutual release — and have it signed by every person named on the lease. Everything is documented, in compliance with the TAL.
The tenant leaves on the agreed date ; you get back a vacant unit. We can support you in bringing it up to standard and re-renting it at market price — the final step that realizes all the value created.
Full support, from the first assessment to the keys in your hand.
Assessment of the rent gap, the value created and the optimal offer. Together we define the agreement budget that stays profitable for you.
A respectful contact, with no pressure or threat, that presents the move-out as an opportunity for the tenant and maximizes the acceptance rate.
A neutral, seasoned intermediary leads the discussion, holds the line on the amount and avoids the missteps that sink an agreement.
A complete termination agreement signed by all parties : dates, compensation, condition of the unit, mutual release. Nothing left to chance.
We stay by your side until the keys are handed over, and we can help you bring the unit up to standard and re-rent it at its fair value.
Pay-only-for-results model : the audit is free and you pay fees only if the agreement closes. Your interests and ours are perfectly aligned.
Three illustrative scenarios to see the logic in action — from the rent gap to the value recovered.
Illustrative examples for guidance only, calculated at a 5 % cap rate. The figures are not a promise of results : every unit, every lease and every negotiation is unique.
Yes. Cash for keys is a mutually agreed lease termination : the landlord and tenant freely agree to end the lease, and the landlord pays compensation in exchange for the move-out. The law allows both parties to terminate a lease by mutual agreement, and no rule sets the amount of the compensation. What would be illegal is forcing, harassing or threatening a tenant. A written, clear and voluntary agreement is perfectly compliant. This information is provided for information purposes only and does not constitute legal advice.
There is no amount set by law : everything is negotiated. The right instinct is to start from the value the move-out will create rather than from a random figure. If taking back the unit lets you recover $500 per month in net income, that represents roughly $120,000 in property value at a 5 % capitalization rate. In that context, compensation of several thousand dollars very often remains an excellent deal. Opti Loyer first calculates this created value, then builds an offer that is both attractive to the tenant and profitable for you.
Yes, always. The tenant has the right to refuse and stay in their unit as long as they respect their lease. Cash for keys is never an obligation : it is an offer. The tenant can say no, make a counter-offer or ask for time to think it over. That is precisely why the proposal must be attractive enough that they have an advantage in accepting, and why a respectful approach makes all the difference in the acceptance rate.
No. You do not force a tenant : you negotiate. A landlord cannot impose the departure of a tenant who respects their lease. The only legal ways to take back a unit are a voluntary agreement such as cash for keys, repossession of a dwelling under the conditions provided by law, or an application to Québec's rental board (the TAL) for a serious reason. Any pressure, service cut-off or threat is illegal and can backfire on the landlord. Cash for keys is the voluntary, fast and conflict-free option.
Yes, always. A verbal agreement is almost impossible to prove and exposes you to a dispute. The written agreement should specify the identity of the parties, the address of the unit, the exact date the lease ends and the keys are returned, the amount of the compensation and when it is paid, the expected condition of the unit, as well as a mutual release clause confirming that everything is settled. Opti Loyer drafts this agreement and has it signed by every person named on the lease, with a copy given to all.
This is one of its great advantages : a well-run agreement can be settled in a few weeks, rather than over the long months of a contested proceeding. The timeline mainly depends on the quality of the first offer, on the trust that develops, and on the time the tenant needs to find a new home. A prepared, respectful negotiation is almost always faster and more predictable than a dispute.
The tax treatment depends on your situation and should be confirmed with an accountant. Generally, the compensation paid to take back a unit is an expense related to your income property, and the amount received may have tax implications on the tenant's side. Since the rules vary depending on whether you hold the property in your personal name or through a corporation, and on how you will use the unit afterward, always have the exact treatment confirmed by a professional before closing.
Yes, and it is a classic case. When a unit has been sublet or transferred repeatedly and the rent lags far below market, a voluntary move-out agreement lets you recover the unit cleanly, bring it up to standard and re-rent it at its fair value. However, you must clearly identify who really holds the lease rights and have the agreement signed by the right person or people. Opti Loyer untangles these situations and secures the agreement.
Repossession of a dwelling is a right governed by law that lets you take back a unit to live in it yourself or to house an eligible relative, subject to a notice, strict conditions and a risk of contestation. Cash for keys, on the other hand, is a purely voluntary agreement : the tenant agrees to leave in exchange for compensation, with no imposed reason and no possible contestation, since everyone is in agreement. Cash for keys is more flexible, faster and free of the risk of a judicial refusal, but it requires the tenant's consent.
Yes, especially if you are comfortable negotiating and the situation is simple. The risks, when you do it alone, are misjudging the rent gap and therefore the profitable offer, overpaying or insulting the tenant with an offer that is too low, drafting an incomplete agreement, or letting the conversation slide toward illegal pressure. Opti Loyer brings a fair assessment, a neutral framework and a solid agreement. And with a pay-only-for-results model, you pay only if the agreement closes.
Get a free audit of your situation : we quantify the rent gap, the value its repossession would create and the profitable target offer. No commitment, and you pay only if the agreement closes.
