How long does your average tenant stay?

Question

Just curious as to how long your average tenant stays.  I know there are extremes, but on average are you seeing one year and they are gone or are you averaging something like 5 years.  I'm in the $1250 range in a suburb so if you have experience in that range I'd love to hear it.

Allen Clark · Answer

I rent month to month in the city so I am actually very happy with medium term stays. I have two properties. Tenant #1 moved into the house in January and was supposed to stay 5 months. They're now probably leaving at the end of the year for a 12 month stay. Tenant #2 is a group of students that are in town for six months so that seems like a very defined period.

I prefer 3-9 months for my places but I let the tenants set the lease length terms. For that flexibility I can charge a premium.

Jonna Weber · Answer

Great question.  I haven't run stats, but it would be an interesting exercise.  Currently my longest term tenant is going into their 8th year.  If I had to guess - it would be about a 3 year average  Working on making it longer though!  Mine is the SFH rental market.

Account Closed · Answer

3-4 yrs seems to be my average.

Account Closed · Answer

thanks for the responses. I'm also curious if you find that you over calculate the vacancy amount.  I factor one month a year for tenant turn over but if your able to have the same tenant for 4 to five years, that would be an extended vacancy time to hit that 1 month per year.

Aly W. · Answer

I have 3 tenants going on their 4th year, another one hopefully will re-sign for a 4th year at year end. The rest are between new ones on their first year, and some on their 2nd.

How long does your average tenant stay?

Most Popular Reply