Tenant Turn Over Cost Rules of Thumb

[Matt Morand]

Is there a general rule of thumb that is used when underwriting the cost of tenant turn over?

[Steve Vaughan]

Mine run about $30 after deducting the carpet shampooing fee from the deposit per lease. That's if they haven't been there for a decade and I've upgraded to laminates already and stabilized.

That doesn't include my generally negative vacancy rate. I have someone new in before the end of the month. But I self-manage. 

A PM will probably run $1-2k, plus an extra month of vacancy, plus their fill fee.  3-4 months rent per turn at one thousand per month. I've paid buildings off by turning and filling myself.