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Vacancy cost calculator

Every empty day costs rent you'll never get back. Put a number on it, and test whether pricing a little lower to fill the unit sooner comes out ahead.

Cost of this vacancy

Daily rent–

Lost rent–

Leasing fee–

Utilities–

As % of annual rent–

Vacancy rate this represents–

Discount vs. waiting–

Total vacancy cost–

How it's calculated

Daily rent = rent × 12 ÷ 365
Vacancy cost = daily rent × days vacant + leasing fee + utilities + turnover costs
Discount test = days sooner × daily rent − discount × lease months

Example (defaults): $1,825 rent is $60 a day. Thirty vacant days lose $1,800 of rent. Add a half-month leasing fee ($912.50), $90 of utilities and $800 of turnover work, and the vacancy costs $3,602.50, which is 16% of the year's rent.

Should you drop the rent to fill it faster?

If a $25 discount gets the unit rented 14 days sooner, you gain $840 of rent and give up $300 over a 12-month lease. The discount wins by $540. Overpriced units often sit empty long enough to cost far more than a small discount. Your mortgage, taxes and insurance continue whether the unit is full or not.

Track actual vacancy days per unit over time. Our tracker's rent ledger shows empty months at a glance, and the cash flow calculator lets you plug in a realistic vacancy rate.

Related calculators

Rent increaseNew rent, % change and turnover break-even.Cash flow calculatorMonthly NOI, mortgage, cash flow and DSCR.Expense ratio & 50% ruleHow much of your rent goes to expenses.

FAQ

What vacancy rate should I budget for a rental?

Use your own history or local data where you can. Many investors budget 5–8% of rent as a default, but it varies widely by market, property and how you manage turnovers.

Is lost rent tax-deductible?

No. Rent you never received isn't income, so there's nothing to deduct. Costs you actually pay during a vacancy, like utilities, advertising, cleaning and repairs, generally are deductible rental expenses.

How can I reduce vacancy?

Renew good tenants early, price at market, market the unit before the current tenant leaves, schedule turnover work in advance, and keep the unit in rent-ready condition.