Turnover

Apartment turnover is the cycle from move-out notice to the next move-in. It includes the move-out inspection, the cleaning and repairs, the paint and flooring work, the new listing and the next lease. It is also a rate: how many residents leave in a year compared with total units.

Turnover touches everyone. Leasing needs the unit listed and ready for tours, maintenance needs a schedule and parts, the community manager tracks the vacant days and the owner sees the cost on the budget. Each turn costs rent while the unit sits empty plus make-ready labor and materials, so lower turnover usually means more income.

Example: a unit is vacant for 30 days. You lose a month of rent, pay for cleaning, paint and a carpet repair, and spend on marketing. Even if each piece is small, the total is easy to underestimate. Cutting vacant days by a week on a block of units adds up.

Common mistake: managing turns one at a time with no board or schedule. A simple turn board with dates for move-out, inspection, scope, work, final check and ready date keeps vendors and leasing in step. The other is ignoring why residents leave. Ask, record and fix what you can.