Free tool
Turnover cost calculator
Every move-out costs more than the paint. Add up lost rent, make-ready, marketing and leasing to see what one turnover costs and what keeping residents is worth.
How it works
The cost of one turnover is lost rent while the unit is empty, plus make-ready (paint, cleaning, repairs and flooring), marketing, the leasing commission or staff time, and any concession given to the new resident. Lost rent is a day of yearly rent for each vacant day: rent times 12, divided by 365.
The yearly cost multiplies that figure by the number of turnovers you expect, which is units times your turnover rate. Cost as months of rent shows how many months of rent one move-out takes with it.
The retention line takes the points you enter off the turnover rate and prices the move-outs you avoid. It uses your own cost per turnover, so the savings are only as good as the figures you put in.
Frequently Asked Questions
How do I calculate turnover rate?
Divide the number of move-outs in a year by the number of units, then multiply by 100. Twenty-five move-outs across 50 units is a 50 percent turnover rate.
What counts as lost rent?
Lost rent is the rent you would have collected for the days the unit sat vacant between residents. Count days from move-out to the new lease start.
Should staff time be included?
Yes, if your team spends real time on showings, applications, inspections and move-ins. Enter a leasing commission if you pay one, or a dollar value for the hours spent.
Why do small retention gains matter?
Each avoided turnover saves the full cost of one move-out. Multiply that across all your units and a few points of retention add up quickly. The savings figure here is an estimate based on your inputs, not a promise of results.
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