Property Leasing :

A FEW TERMS YOU SHOULD KNOW

Tenant turnover: When one tenant moves out and another
moves in.

Tenant turnover rate: The frequency with which tenants move
in and out. An average tenant turnover rate is about once every two years. A low tenant turnover rate would be once in four or five years,
while a high turnover tenant rate would be more than once
a year.

Vacancy loss: The amount of loss experienced by a landlord
while a rental stands empty. This is the sum of lost rent, cost of
refurbishing and repairs, salaries for any workers hired to help
prepare the property for new tenants, advertising, utilities paid
by the landlord during the vacancy, costs for checking out new
applicants (including telephone expense), and any other
expenses involved in placing new tenants in the property.

Vacancy period: The time during which a property is unrented.

Property Nashik