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Updated almost 4 years ago, 03/21/2021
What is considered good vacancy duration and good tenant duration
We are on our 3rd property and out 6th set of tenants. Summary Question: What is considered a good vacancy duration, and what is considered good tenant duration?
For us, the last two vacancies were 1 day and 1 month. I think the 1 day is incredible and we got stellar tenants on that one. The one month I think is good but I don't know what others are doing.
Our longest tenant has been 3.5 years, Air Force. Shortest tenant was 9 months, but we bought that property with them in it. 3 and a half years is good I think for Air Force tenants. We own in a base town and like base tenants.
How would you complete these sentence:
"You are doing good if you can get your houses rented in XXXXX days/months" -assuming normal qualifying tenants
"You are doing good if your tenants stay for at least XXXXXXX months/years"
Thanks so much!