What is Tenant Turnover Rate?
What is Tenant Turnover Rate?
Section titled “What is Tenant Turnover Rate?”Tenant Turnover Rate measures how often your properties actually change tenants, over the last 12 months:
Tenant Turnover Rate = New Tenancies Started (trailing 365 days) / Number of Owned Properties × 100Where you’ll see it
Section titled “Where you’ll see it”Dashboard, in the portfolio hero stats, alongside Vacancy Rate.
How it’s calculated
Section titled “How it’s calculated”Property Insights walks through each property’s recorded rent history and counts a genuine tenant change — not just a rent increase for the same tenant. A rent rise recorded against the same tenant name doesn’t count as turnover; only a change to a different tenant does. The very first tenant a property ever had is counted as a move-in, not turnover — the rate measures churn, not occupancy starting.
How to read it
Section titled “How to read it”A lower turnover rate generally means better tenant retention — less time and cost spent re-letting, less vacancy risk, and (usually) a more stable rental history. A higher rate isn’t automatically bad — it can simply reflect a property type that naturally turns over faster (student or short-lease accommodation, for example) — but it’s worth investigating if it’s rising unexpectedly on a property that hasn’t changed.