CASH FOR KEYS — ONTARIO

Get Your Tenant Out Faster —
Without the LTB Wait

When the formal eviction process doesn't fit your timeline, a properly drafted cash-for-keys agreement can get your unit back in weeks — not months. Stonegate handles the strategy, the negotiation, and the paperwork. Landlords only. We never act for tenants.

Book A Free 20-Minute Call →

25+

Years of experience

3,200+

Landlords represented

518+

Five-star reviews

5,360+

LTB matters handled

CASH FOR KEYS — ONTARIO

What Is a Cash for Keys Agreement?

A cash-for-keys agreement is a private, negotiated settlement between a landlord and a tenant. In exchange for a lump-sum payment, the tenant agrees to voluntarily vacate the rental unit on a specified date, return the keys, and release any claims against the landlord.

It is not a formal LTB process and does not require filing an application or attending a hearing. When done right, it is faster, more private, and sometimes cheaper than the formal eviction route.

It is not a loophole — it is a legally recognized settlement tool used regularly by landlords across Ontario. The key is getting the agreement drafted properly so it is binding and enforceable if the tenant changes their mind.

⚡

Fast

Weeks, not months. Skip the LTB waitlist entirely when both parties agree.

🔒

Private

No public LTB record. The agreement stays between you and the tenant.

📋

Binding

A properly drafted agreement is legally enforceable — the tenant can't take the money and stay.

Cash for Keys vs. The LTB Route — Which Is Right for You?

Neither option is always better. Our team helps you assess which path makes the most sense for your situation before you spend a dollar.

Cash for Keys

  • ✓Can be completed in 2–6 weeks
  • ✓No hearing, no adjudicator, no LTB file number
  • ✓Good when the tenant is cooperative but needs an incentive
  • ✓Ideal when you need vacant possession fast (sale, renovation, personal use)
  • ✗Upfront payment required — no guarantee if tenant backs out without a proper agreement
  • ✗Does not recover rent arrears — combine with L1 if money is owed

Formal LTB Application

  • ✗LTB hearing wait times: 6–18 months in most regions
  • ✗Public LTB record of the application and order
  • ✓Best when tenant is adversarial or refuses any negotiation
  • ✓Required when recovering significant rent arrears (L1/L9)
  • ✓Order is enforceable via sheriff if tenant doesn't comply
  • ✓Stronger remedy if N12 bad faith is a concern

Not sure which route fits your situation? Our first call is free. We'll tell you straight — CFK, LTB, or both running in parallel.

Book A Free Call

OUR PROCESS

How Stonegate Handles Your Cash for Keys

From first call to keys in hand — here is what the process looks like.

01

Strategy Call

We assess your situation, confirm CFK makes sense, and advise on a realistic offer range.

02

Draft the Agreement

We draft a legally binding settlement agreement that protects you if the tenant backs out.

03

Negotiate & Sign

We manage the conversation with the tenant and ensure both parties sign before any money moves.

04

Keys & Possession

We confirm vacant possession on the agreed date and keep full records in case of any dispute.

BOOK YOUR FREE DISCOVERY CALL

20 minutes · No obligation · We call you

Why You Should Not Do This Alone

The Most Common DIY Cash for Keys Mistakes

✗

Paying before signing. Tenant takes the money, refuses to leave, and you have no enforceable agreement.

✗

Weak agreement language. Missing the right terms means the agreement may not hold up if challenged.

✗

Offering too much. Landlords routinely over-pay because they don't know what the tenant would actually accept.

✗

No vacant possession process. No formal handback of keys, no inspection record — opens the door to damage disputes.

Who Handles Your File

Not a call centre. Not a junior staffer. Every file is worked by a licensed Ontario paralegal from day one.

At Stonegate Legal Services, your cash-for-keys file is handled by our paralegal team throughout — from assessing whether CFK is the right move, to drafting the agreement, managing the negotiation, and confirming vacant possession. We act for landlords only. We have never represented a tenant. That focus is why Ontario landlords keep coming back.

500+

LTB Applications Filed

10+

Years Landlord-Tenant Law

100%

Ontario Landlords Only

0

Tenants Ever Represented

What We'll Need From You

  • Signed lease (current rent amount and due date)
  • Tenant's full legal name and unit address
  • Reason you need the unit back (personal use, sale, renovation)
  • Your target vacant possession date

+ 5 more items in the full checklist →

Cash for Keys Checklist

NEW

Everything we need before your first call — download it now and come prepared.

Download PDF

What Ontario Landlords Say

Real landlords. Real results.

★★★★★

“I needed my unit back for my son and didn't want to wait a year at the LTB. Stonegate put together the agreement, handled everything with the tenant, and we had the keys in three weeks. Unbelievable.”

James R. — Toronto Landlord

★★★★★

“My tenant owed two months' rent and I was looking at a six-month wait. Stonegate suggested a cash-for-keys approach alongside an N4. The tenant took the deal. Saved me months of stress.”

Linda M. — Oakville Landlord

★★★★★

“We were selling the property and needed vacant possession. Stonegate drafted the agreement, the tenant signed, and the sale closed on time. The fee paid for itself ten times over.”

Kevin S. — Mississauga Landlord

Frequently Asked Questions

Cash for keys questions we hear every week.

Is cash for keys legal in Ontario?

Yes. A cash-for-keys agreement is a private settlement between a landlord and a tenant. There is no law preventing it. The key is that the agreement must be voluntary — you cannot coerce the tenant into signing. When documented properly, it is fully enforceable.

There is no fixed rule. Typical cash-for-keys payments range from one to three months' rent depending on how quickly you need the unit, how cooperative the tenant is, and what the alternative (LTB wait time, legal fees) would cost you. Stonegate advises on a realistic range during the strategy call.

This is exactly why the agreement must be drafted correctly before any money changes hands. A well-drafted agreement is a legally binding contract — if the tenant breaches it, you have legal recourse. Payment should only be made against the signed agreement and upon confirmation of vacant possession, or structured in instalments tied to key milestones.

Not if the cash-for-keys route is successful. However, in some situations we recommend filing an LTB application in parallel — especially when there are rent arrears — so you have leverage if negotiations break down. We'll advise you on the right combination.

Yes. Many landlords serve an N12 to establish the formal eviction timeline while simultaneously offering a cash-for-keys deal. If the tenant accepts, the N12 is withdrawn. If they refuse, the LTB process continues. It's a common and effective dual-track strategy.

When both parties are willing, a cash-for-keys deal can be completed in two to six weeks. The agreement is drafted and signed first, then payment is made against handback of keys on the agreed date.

WHERE WE SERVE

We Serve Landlords Across All Of Ontario

We represent landlords throughout Ontario.

TorontoMississaugaBramptonHamiltonOttawaLondonKitchenerBarrieMarkhamVaughanOakvilleBurlingtonWindsorOshawaSudbury

Ready to Get Your Unit Back Faster?

Book a free 20-minute call. We'll tell you whether cash for keys makes sense, what to offer, and how to protect yourself. No obligation.

Book A Free 20-Minute Call →

Landlords only · Flat fees · No surprises