A 2023 Zego survey of apartment managers put average turnover cost at about $3,872 per unit, mostly lost rent, concessions, repairs, and marketing. For a small landlord, the biggest variable is how long the unit sits empty. Keeping a tenant usually costs far less: answer repair requests quickly, start renewal talks about 90 days out, and keep increases modest.
Your tenant of three years has given notice because they're buying a house. You're happy for them, and you now have a unit to clean, repair, list, and fill, with no rent coming in while you do it.
What Turnover Costs
The obvious costs are cleaning, some paint touch-ups, and a week or two of vacancy. The full number is usually higher.
A 2023 Zego survey of 630 apartment managers put average turnover cost at $3,872 per unit (reported by Multifamily Dive). That figure comes from communities of 250 or more units. For a single-family rental or small building, the biggest variable is how many weeks the unit sits empty.
Where the money goes, in rough ranges for a small landlord (our estimates):
| Category | Typical Cost |
|---|---|
| Lost rent (vacancy) | $1,750-$4,000 |
| Deep cleaning | $200-$500 |
| Paint and repairs | $500-$2,000 |
| Marketing/advertising | $50-$500 |
| Tenant screening | $30-$75 per applicant |
| Administrative time | 10-20+ hours |
Those ranges assume nothing major is wrong. Damage beyond normal wear and tear adds to the repair line.
To see whether a turnover pays off, divide its cost by the monthly rent increase you'd get from a new tenant. At $3,800 in costs and a $100 increase, it takes 38 months to break even.
The Time It Takes
Finding a new tenant involves:
- Cleaning and preparing the unit
- Taking photos and writing listings
- Responding to inquiries and scheduling showings
- Showing the property (often multiple times)
- Processing applications and running background checks
- Negotiating lease terms
- Coordinating move-in
For a self-managing landlord, this can take 20-40 hours.
Why Tenants Leave (And What You Can Control)
Common reasons tenants don't renew include rent increases, buying a home, household or job changes, and a poor experience with the landlord or the unit.
You can't control whether someone buys a house or gets transferred for work. You can control how quickly you answer messages and handle repairs, and how you set renewal terms.
The Maintenance Connection
We haven't found a reliable figure for how many tenants move out over a single repair. Slow or ignored maintenance is still one of the most common tenant complaints, and a tenant who feels unheard has a reason to start looking. If they leave, that's a $3,800+ turnover.
What helps:
- Acknowledge every request quickly, even when the fix takes longer
- Give a repair date and keep it
- Check back after the work is done
The Retention ROI
Scenario: 10-unit building with 50% annual turnover
- 5 turnovers × $3,800 = $19,000/year in turnover costs
Scenario: Same building with 70% retention (only 3 turnovers)
- 3 turnovers × $3,800 = $11,400/year in turnover costs
- Savings: $7,600/year
Now consider what it costs to improve retention:
- Responding to maintenance quickly: $0, only your time
- Occasional rent discount for great tenants: $600/year
- Small renewal incentives: $200-$500
You could spend $1,000 per retained tenant and still come out thousands ahead compared to turnover.
Practical Strategies to Reduce Turnover
1. Respond to Maintenance Fast
Some fixes take days. Acknowledge the request quickly and say when the repair will happen.
- Respond to all maintenance requests within 24 hours
- Set expectations for repair timeline
- Follow up after completion to confirm satisfaction
2. Start Renewal Conversations Early
At 30 days before the lease ends, your tenant may already be apartment hunting. Reach out 90 days before expiration to ask about their plans and discuss terms. That leaves time to address concerns and negotiate.
3. Price Renewals Thoughtfully
Keeping rent near market is reasonable, but a 10% increase carries far more move-out risk than a 3% one.
Rules of thumb (estimates without hard data behind them):
- Small increases ($25-50/month) are generally absorbed without issue
- Increases over 10% noticeably raise the odds of a move-out
4. Offer Renewal Incentives
For good tenants you want to keep:
- Lock in rates with a longer lease term
- Offer a small upgrade (new appliance, fresh paint)
- Provide a one-time rent credit for early renewal commitment
5. Make Rent Payment Easy
Paying rent should take a tenant as little effort as possible:
- Offer online payments
- Enable autopay
- Provide multiple payment options (ACH, card, etc.)
Rentra logs every repair request tenants text in, sorts it by urgency, and collects rent by autopay with email reminders. See how it works.