Vacancy is the most expensive line in a rental's budget, and it never shows up on a statement. There's no invoice for rent you didn't collect. That's why it's so easy to underestimate.
The math
Annual rent ÷ 52 gives you the cost of one vacant week. On a $1,850 rowhouse, that's about $427 a week, or $61 a day. A turn that takes five weeks instead of two costs about $1,280. That's more than a year of the difference between a 9% and a 10% management fee.
Then add what you keep paying while the unit is empty: mortgage interest, taxes, insurance, utilities, lawn care. Vacancy costs more than the lost rent.
The four levers that cut vacancy
- Know about the move-out early. A 60-day renewal conversation tells you who's leaving in time to pre-market the home.
- Turn fast. The gap between keys returned and rent-ready is usually waiting: for a painter, a cleaner, a part. Having our own crew is how we target rent-ready within 10 days of a typical move-out.
- Price right on day one. Overpricing by $100 can cost more in vacant weeks than it earns in a year. Price from real comps, then adjust quickly based on showing activity.
- Show fast. Answer inquiries the same day. A good applicant who waits two days often rents somewhere else.
Run your own numbers in the vacancy and net-to-owner calculators.