How Long Do Your Tenants Stay?

[Curtis Bidwell]

I just did an annual report for a lender, and while reviewing my rent roll discovered an interesting breakdown. My complex is 24 units, all 2 bed 1 bath, avg rent $860.  I have Aprox 33% of residents that have been there less than 2 year, 33% have been there 3-5 years and another 1/3 have been there over 5 years!

Our student population is most transient - though they often stay for 2 years. Our sec-8 population only moves when they have to (I have 3 of 8 who are going on 7 years!), my general population is a mix from 1-15 years.

In my SFR portfolio I have exactly the same 1/3, 1/3, 1/3 breakdown even though the clientelle and price point are considerably more than the apartments ($1200-$1850).

So, I'm curious, How do your rentals breakdown? And if you know why, include that too. Thanks for your responses!