Tenant Turnover Cost Calculator

Background.

A reader arrives at Tenant Turnover Cost Calculator to combine make-ready, leasing and vacancy loss for one tenant change. Turnover cost includes both cash work and opportunity cost while a rentable unit produces no rent. For that reason, this page names its convention as “turnover cost = repairs and cleaning + leasing and advertising + monthly rent x vacancy days / 30.”

The editable entries are repairs, cleaning and make-ready work, leasing and advertising cost, monthly rent lost during vacancy, turnover vacancy days. Use values from the document or measurement that governs this tenant turnover cost question; the defaults are only the worked fixture below. Before relying on the number, check this tenant turnover cost boundary: use achievable downtime and actual scope; security-deposit deductions and capital improvements should not automatically be treated as owner turnover cost.

Fannie Mae Selling Guide B3-3.1-08, Rental Income; documented gross and net rental-income treatment documents the convention or governing rule used here. The tenant turnover cost output is a transparent scenario under those facts: it does not manufacture an unentered market price, professional determination, carrier quote, legal eligibility finding or locally adopted code value.

What is tenant turnover cost calculator?

Tenant Turnover Cost is the relationship behind this decision: turnover cost includes both cash work and opportunity cost while a rentable unit produces no rent. On this page it means turnover cost = repairs and cleaning + leasing and advertising + monthly rent x vacancy days / 30. Use achievable downtime and actual scope; security-deposit deductions and capital improvements should not automatically be treated as owner turnover cost; that is the line between the reported quantity and a broader real estate analysis.

How to use this calculator.

1. 01Confirm that “turnover cost = repairs and cleaning + leasing and advertising + monthly rent x vacancy days / 30” matches the tenant turnover cost convention you need.
2. 02Replace the fixture values for repairs, cleaning and make-ready work, leasing and advertising cost, monthly rent lost during vacancy, turnover vacancy days with dated values from the governing record.
3. 03Keep all currencies, measurement units and time periods on the same basis before calculating.
4. 04Read total tenant-turnover cost together with this boundary: Use achievable downtime and actual scope; security-deposit deductions and capital improvements should not automatically be treated as owner turnover cost.

The formula.

The calculation uses turnover cost = repairs and cleaning + leasing and advertising + monthly rent x vacancy days / 30. In this tenant turnover cost model, the entered terms are repairs, cleaning and make-ready work, leasing and advertising cost, monthly rent lost during vacancy, turnover vacancy days. Turnover cost includes both cash work and opportunity cost while a rentable unit produces no rent, which is why the relationship is presented under this name rather than as a universal alternative. Use achievable downtime and actual scope; security-deposit deductions and capital improvements should not automatically be treated as owner turnover cost. Calculations keep full decimal precision through the relationship and round only the returned display values.

A worked example.

Frequently asked questions.

References& sources.

1. [1]Fannie Mae Selling Guide B3-3.1-08, Rental Income; documented gross and net rental-income treatment. Retrieved 2026-08-07. access: open unless marked otherwise.
2. [2]Freddie Mac, Modeling Multifamily Potential Rental Income; current rent roll, concessions and vacancy treatment. Retrieved 2026-08-07. access: open unless marked otherwise.
3. [3]National Association of Realtors. Research and statistics. Retrieved 2026-08-07. independence: secondary-check; access: open.