Rental Vacancy Cost Calculator
What Is Vacancy Costing You?
See the true cost of an empty rental: the rent you lose every day, plus the bills you keep paying while it sits.
One vacancy event · Pre-tax
Red Roof Rentals · 253.222.3387
30-Day Rental Guarantee
If Red Roof cannot lease your home in 30 days or less, you get one month of management free.
Daily figures use a 30-day month. Total Vacancy Loss is the cost of one vacancy; the projection repeats it for the years selected. For planning only.
| Line Item | How It's Figured | Cost |
|---|---|---|
| Total Vacancy Loss (one vacancy) | $0 | |
It takes 0 days of full rent just to earn back this one vacancy. Every day shaved off turnover goes straight to you.
Unlock your full vacancy report
See your daily lost rent, multi-year projection, the line-by-line breakdown and how long it takes to recover.
Ready to shorten your next vacancy?
Get My Free Rental AnalysisHow the Cost of a Rental Vacancy Is Calculated
An empty rental is the most expensive month a landlord has. The rent stops, but the bills keep coming. The calculator above adds up the full cost of vacancy so you can see what each empty day is really worth on your Tacoma rental property.
Lost rent
Lost rent is the biggest piece. The calculator turns your monthly rent into a daily rate, then multiplies it by the number of days the home sits empty.
Lost rent = (Monthly rent ÷ 30) × Days vacant
Carrying costs
While no one lives in the home, you pick up costs a tenant would normally cover, like utilities. HOA dues are counted the same way, by the day. Your mortgage, taxes and insurance are left out, because you pay those whether the home is rented or not.
Carrying costs = ((Monthly utilities + Monthly HOA) ÷ 30) × Days vacant
Turnover costs
Every move-out comes with one-time costs: cleaning, paint touch-ups, rekeying and small repairs. These are added once per vacancy.
Total vacancy loss = Lost rent + Carrying costs + Turnover costs
Worked Example: A Tacoma Rental Sits for 45 Days
This example uses the calculator's starting numbers, so you can follow along. Picture a Tacoma home that rents for $2,500 a month and takes 45 days to lease after the last tenant moves out.
| Daily rent ($2,500 ÷ 30) | $83 |
| Lost rent (45 days) | $3,750 |
| Utilities while vacant ($150 a month) | $225 |
| Turnover costs (one time) | $500 |
| Total vacancy loss | $4,475 |
That one vacancy wipes out about 15% of the home's yearly rent. It also takes about 54 days of future rent just to earn back what was lost.
Now look at the same home leased in 30 days instead of 45. Those 15 days are worth about $1,325 to the owner. Every extra week the home sits empty costs roughly $600 more.
The fastest ways to shorten vacancy are simple:
- Price to the market from day one, using current rental data.
- Get the home rent-ready before it is listed, so showings start right away.
- Market it widely with strong photos and fast replies to every lead. See our rental marketing services.
- Keep good tenants longer, because the cheapest vacancy is the one that never happens. Learn about our lease renewal and retention process.
Want to see how vacancy changes your bigger picture? Plug your numbers into our rental property ROI calculator.
Rental Vacancy FAQ
How do I figure out the cost of a vacant rental?
Divide your monthly rent by 30 to get a daily rate, then multiply by the days the home was empty. Add the utilities and HOA dues you paid while it sat, plus one-time turnover costs like cleaning and repairs. The calculator above does this for you.
Is it better to lower the rent or wait for a higher-paying tenant?
Run the math before you wait. On a $2,500 home, pricing $50 a month lower costs $600 over a full year. One extra week of vacancy costs about the same. If a slightly lower price leases the home weeks sooner, it usually comes out ahead.
How long does it take to rent a home in Tacoma?
It depends on price, condition, location and the time of year. Homes that are priced to the market, clean and ready to show, and marketed well lease the fastest. A free rental analysis will show you what rent current data supports for your home.
What is the Red Roof 30-Day Rental Guarantee?
If we cannot lease your home within 30 days, you get one month of management free, credited to your owner statement. The clock starts once the home is ready to rent, can be shown, and is priced to what current data supports. It covers the management fee only, not the leasing fee or lost rent. Read the details on our guarantees page.
Why aren't my mortgage and property taxes in the calculator?
You pay those every month whether the home is rented or not, so they are not caused by the vacancy. The calculator only counts the costs that come from the home sitting empty: lost rent, utilities, HOA dues and turnover work.
How can a property manager reduce vacancy?
A professional manager prices the home with live market data, handles showings fast, screens tenants carefully and works to renew good tenants before they give notice. Red Roof Rentals has managed Tacoma and Pierce County rentals since 2009 and is a NARPM® affiliate member. Book a consultation or call 253.222.3387.