Turnover in a rental complex is typically a cause for concern for landlords. However, turnover in a unit can often be a benefit. If a problem tenant previously occupied the unit, then landlords cannot wait for this person to be removed. Turnover is typically caused by a tenant deciding to move to a different type of residence or simply relocate to another city or state. This kind of turnover is uncontrollable, however, there are options to manage turnover and even control.

The national turnover rate in 2012 was set at 54 percent. This has proven to be a consistent figure since that year, with a single community needing to replace half of its occupants per year. Classical thinking would lead landlords to believe that a vacancy could still be filled at a higher rate. However, this is becoming increasingly difficult to do because of the economic downturn.

While one cannot stop someone from a desire to move to a new city, there are many strategies that landlords can use to aid in reducing turnover in their buildings. Residents need certain aspects of the place they live in to be maintained. There must some form of a “sense of community” between all residents (something that could prove difficult if the rental complex is just a building on a lot). If this proves difficult to establish, landlords should look to improve the appearance of their units and exteriors as much as possible. This means that they should either take the initiative and monitor the condition of these factors, or hire a competent on-site/off-site manager to routinely inspect these qualities. Residents also appreciate heightened safety and security in buildings. Perhaps above all, residents appreciate timely and dependable response from those managing the building. All of these factors are used by residents to determine the value of the property, as well as if they would like to remain where they are. Landlords are encouraged to instill some form of community rules and regulations to keep tenants pleased.

Source: http://www.aoausa.com/magazine/?p=1846