Commercial & AppraisalAdvanced

What Is Real Estate Turnover?

Turnover rate most often refers to the percentage of a rental property's units that vacate and turn over to a new tenant within a given year — a key operating metric for multifamily and rental portfolios; the same term can also describe how frequently properties in a market resell.

Most useful for: Commercial Investor

At a Glance

Real Estate Turnover

Tenant Turnover Rate=Units Vacated÷Total Units×100

Formula

Tenant Turnover Rate = \frac{Units Vacated}{Total Units} \times 100

Tenant Turnover Rate = Units Vacated ÷ Total Units × 100

Related Terms

Vacancy Rate Days on Market

More Commercial & Appraisal Terms

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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.

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