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Updated over 1 year ago on . Most recent reply
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Frequency of turnover costs
As a multifamily property investor I should get used to spending some amount of money on every turnover process
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Quote from @Richard F.:
I would add, if you are having frequent turnover, there must be some underlying cause. Properly marketed, with well screened Tenants, a properly prepared rental unit should typically not turnover Tenants for several years.
Agree. Or could be that the renewal rent is way too high. We always recommend a smaller rent increase than market rent for good paying tenants in order to incentivize them to stay. The turnover costs will wipe out profit and be tough to recoup if you're doing it every year