What is Your Average Tenant Duration?

[Joe Splitrock]

What is your average tenant length stay? Just to qualify the number, it would be good to state how many properties you have and whether they are SFH or MFH units.

[Joe Splitrock]

@Bjorn Ahlblad it is a little hard to calculate the average, which is what got me thinking about posting the question. Some of my properties are newer and some have long term tenants who have not left after 5+ years. If I have a 3 year old property with a 3 year tenant, that property average is 3 years, but in 15 years that average will be different. I am at about 4.5 years average currently for all my SFH. My vacancy, with turn over, is near 0%, because I stack tenants back to back. As @Bill B. mentioned, turn over can be an opportunity to increase rents. That is especially true in this fast moving market. I just had a 2 year tenant move out, who was paying $1350 and the new tenant is paying $1675. I incurred no cost during turn over (accept my time) and experienced no vacancy, but I increased cash flow $325 per month. I do push rent increases, but it is pretty hard to push that type of increase to a good tenant. 

@Brandon Plombon that makes sense on student housing, but you are likely not seeing any vacancy so it is probably not a big deal. I have a short term rental that has new tenants weekly, but it stays booked every day. Just a different model.