Turn costs

Glossary

Turn costs are the expenses to prepare a vacant apartment for the next resident, including repairs, cleaning, and make-ready work.

Definition

Turn costs are the expenses required to prepare a vacated apartment home for the next resident. They commonly include cleaning, painting, repairs, flooring, appliance work, and other make-ready tasks needed to return the unit to leasable condition. In some operating views, the broader turnover cost also includes vacancy loss, marketing, and utilities tied to the unit transition.

Example

A resident moves out of a two-bedroom unit. The team uses the move-out inspection to estimate damage charges, assigns a technician for minor repairs and a vendor for carpet replacement, tracks the turn timeline, reconciles the deposit, and marks the unit ready only after final QA is complete.

Why It Matters?

Turn costs matter because they affect controllable operating expenses, vacancy downtime, and net operating income. Tracking open turns, repair scope, vendor timing, and deposit reconciliation helps operations leaders spot delays, control spend, and get units ready for leasing faster.

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