Rental Turnover Rate

The average duration that a tenant remains in a rental property before moving out. It indicates how frequently a property cycles through tenants. A turnover rate of 4.7 years suggests that, on average, each tenant stays in the property for 4.7 years before leaving, after which the property becomes available for a new tenant. Landlords, property managers, and investors use this figure to gauge stability in occupancy and the frequency at which they must find new tenants, handle associated maintenance, and incur vacancy costs.