Rental Property Vacancy Loss Calculator
Vacancy loss is the silent killer of rental property returns. A 5% vacancy rate (18 days/yr empty) on a $2,400/mo unit costs $1,440 — plus tenant turnover cost of $1,000-2,500. This tool computes total annual vacancy + turnover loss.
Why Vacancy Matters More Than Cap Rate
Vacancy is the most-volatile rental property variable. A cap rate of 7% looks healthy until vacancy spikes from 5% to 12% — at that point effective yield drops to 5.8%. Most rental property pro formas underestimate vacancy by ignoring turnover days plus tenant-finding gaps.
Tenant Turnover Cost Breakdown
Typical SFR turnover: $800-1,200 cleaning + paint, $300-500 marketing + screening, $400-1,000 leasing commission (one month rent typical). Plus 15-45 days vacant during transition. Total: $1,500-3,500 per turnover. Long-term-tenant strategies pay back in 18-24 months.
How To Reduce Vacancy + Turnover
Three plays: (1) Pre-renewal outreach 90 days before lease end — most-effective single tactic. (2) Modest renewal incentives ($200 rent credit) save $1,500+ in turnover cost. (3) Use professional photos + virtual tours for fastest re-leasing. Class-A property managers list day-of-vacancy and re-lease in 14-21 days.
Source: NAREB Rental Market Report 2025, NAR Investment Property Survey 2025. Last updated: May 2026.