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Property management glossary
Maintenance & operations

Turnover

Plain-English definition

The transition of a rental from one resident to the next, including move-out, make-ready, leasing, and move-in.

What turnover means in practice

Turnover cost includes more than repairs: vacancy days, labor, utilities, marketing, screening, and coordination all matter. A shared timeline reduces gaps between possession, inspection, scope approval, and readiness.

Example

The owner pre-schedules inspection and vendors before the lease ends, then tracks the unit from keys returned to ready-for-move-in.

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This glossary is educational and not legal, tax, lending, or accounting advice. Rules and terminology can vary by jurisdiction and professional context.