Leasing
Tenant turnover
The operational transition between an outgoing tenancy and the next occupancy, including possession, reconciliation, make-ready, and leasing.
Glossary
Leasing
Tenant turnover is the period and workflow between one tenancy ending and the next beginning. It can include notice and scheduling, possession and keys, condition documentation, deposit accounting, cleaning and repairs, utilities, listing, screening, lease execution, and move-in readiness.
Turnover cost is broader than make-ready invoices. Measure lost rent, concessions, marketing, screening or leasing expense, staff or owner time, cleaning, repairs, utilities, lock or access work, and any capital project separately so the causes remain visible.
A fast turn is useful only when the legal, safety, condition, deposit, and screening steps are complete. Start planning from the known move-out date, but do not promise possession of an occupied or incomplete unit.
Turnover record
Keep notice, move-out date, possession evidence, keys, meter or utility state, move-in baseline, move-out observations, estimates and invoices, deposit accounting, readiness approval, listing dates, applications, signed lease, and actual occupancy date.
Metrics that explain the result
Track notice-to-possession, possession-to-ready, ready-to-lease, days vacant, planned versus unplanned scope, total cost by category, and repeat defects. One average “days to turn” can hide the stage causing delay.