Work out tenant turnover cost instantly with clear inputs, formula shown and shareable results.
Turnover cost combines the void rent, making good the unit and the cost of finding a new tenant. Expressing the total in months of rent makes the case for retention concrete: a turnover costing four months of rent means a rent reduction of five percent to keep a good tenant pays back in under seven years, and much sooner if it avoids two turnovers.
Turnover cost
Total = rent x void months + refurbishment + rent x letting fee months
In months
Months of rent = total cost / monthly rent
Total = rent x void months + refurbishment + rent x letting fee months. Turnover cost combines the void rent, making good the unit and the cost of finding a new tenant.
Rarely. One extra void month costs about 8 percent of annual rent, so holding out for a five percent higher rent takes twenty months just to break even.
This calculator takes 4 inputs: Monthly rent, Void period, Refurbishment and cleaning, Letting fee. The pre-filled defaults are a realistic worked example — replace them with your own site or project figures.