renter turnover
nounUK /ˈrɛntə ˈtɜːnəʊvə/
US /ˈrɛntər ˈtɜːrnoʊvər/
Renter turnover is when people move out of a rented home and new people move in.
The landlord painted the apartment quickly because of high renter turnover.
OTHER MEANINGS
2. The rate at which tenants leave and are replaced in a property over time.
The building's renter turnover rate rose to 40 percent last year.
3. The process of a rental unit becoming empty and then rented again.
Cleaning fees are part of the cost of renter turnover.
4. A measure landlords use to judge how stable their rental income is.
High renter turnover can mean more repair costs for the owner.