Finance category
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Make Ready Cost Calculator
Itemize the standard make-ready turnover work: paint, deep cleaning, flooring refresh, minor repairs, appliances, and re-keying. Adds contingency and lost rent during downtime to produce the full cost of making a unit rent-ready.
Total turnover cost
$4,580
Hard costs (materials + labor)
$3,647
Lost rent during turn
$933
Contingency reserve
$332
Direct costs before contingency
$3,315
How the math works
Make-ready budgets cover the standard turn work needed to re-rent a unit: paint, deep clean, flooring refresh, minor repairs, appliance touch-ups, re-keying. Typical turn costs run $1,500-$4,000 for a single-family unit and $800-$2,500 for an apartment, plus 1-3 weeks of lost rent.
Longer tenancies reduce per-year make-ready cost because the same turn spend spreads over more years. A $3,000 turn every 1 year = $3,000/yr; every 3 years = $1,000/yr. That math strongly favors lease renewal strategies over accepting turnovers.
How to Use
- Enter each line item cost — painting, cleaning, carpet, repairs, etc.
- Add appliance and re-key costs if applicable.
- Set a contingency percentage (10-20% typical).
- Enter monthly rent and days the unit will be down.
- Review total turnover cost including lost rent.
Frequently Asked Questions
How much should I budget for a turn?
Typical turn for a well-maintained unit: $1,200-$2,500. Heavy turn with carpet + paint + appliance work: $3,000-$6,000. Set aside 6-8% of annual rent as a reserve for average turns.
Do I have to repaint every turnover?
Not always — touch-ups often suffice for short tenancies. Full repaint is common every 3-5 years regardless of tenant, and mandatory when tenant smoked or had pets that marked the walls.
Is flooring a capital improvement?
Replacement (full rip-out and reinstall) is usually capital. Cleaning, refinishing, or patching existing flooring is a repair. Capital improvements depreciate; repairs are expensed in the year paid.
What reduces turn cost?
Long tenancies (fewer turns), sturdier finishes (LVP beats carpet), professional cleaning between tenants, pet screening, and move-out checklists that catch damage during walk-through — before cashing the deposit.
Related Calculators
Tenant Turnover Cost Calculator
Broader turnover cost model.
Turn Cost Per Unit Calculator
Turnover cost across a portfolio.
Rent Ready Days Calculator
How many days down for a turn.
Rent Ready Budget Calculator
Classic rent-ready budget.
Turnover Cleaning Cost Calculator
STR-specific cleaning cost.
Rental Renovation ROI Calculator
Upgrade ROI above standard turn.
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