What is considered good vacancy duration and good tenant duration

[Cali Skier]

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!

[Dave Chapa]

@Cali Skier Depends on the type of property. MFH (Apartments) are higher turnover than SFM. All my budgets include vacancy rates, so the number I must beat, is my budget.

You are doing great if you have a line of qualified people waiting to rent and, a 2 to 3 day make ready. However, that's not always reality. So, we try to control what we can by having product ready for showing as soon as possible, and being proactive with listings, we require a 60-day notes.

If you have long term tenants, 3 + years, you may want to run rent comps (you should be doing this annually anyway) you may be too low on rents :). However, who does not like a long-term tenant? I agree with @Charles Carillo, we like to keep tenants in our SFH for a minimum of 2 years. As for the MFH, I am happy to get 1+ years.