Example
A tenant owes $2,400 in back rent, and an eviction could take weeks or months and cost the landlord court fees and more lost rent. Instead they sign an agreement on October 5, 2026: the landlord waives the $2,400, returns the security deposit within the state deadline, and pays $1,500 when the tenant hands over the keys on or before October 31, with the unit broom-clean and empty.
In the agreement it looks like…
Tenant agrees to vacate and deliver all keys by October 31, 2026, leaving the premises broom-clean and free of personal property. Upon delivery, Landlord shall pay Tenant $1,500 and waive all rent owed through that date. If Tenant has not vacated by then, this Agreement is void.
Good to know
Put it in writing, pay only when the keys come back and the unit is empty, and say what happens to the deposit. Tenants should check that the agreement settles the back rent, so it does not come back later as a debt or a collections account.
Plain English, not legal advice. Last reviewed September 29, 2026.