Análisis de Renovación de Contrato — Fórmula

Lease Renewal vs. Turnover Analysis

Deciding whether to renew a current tenant or turn the unit for a new tenant requires comparing total net revenue, not just the monthly rent difference.

Renewal Path

Total Revenue = Renewal Rent x Lease Term

Turnover Path

Total Revenue = (Market Rent x Lease Term) - Vacancy Loss - Make-Ready Cost - Leasing Fee

Hidden Turnover Costs

  • Vacancy loss: Typically 2-6 weeks of lost rent
  • Make-ready: Paint, cleaning, minor repairs ($500 to $5,000+)
  • Leasing costs: Advertising, screening, agent commission
  • Administrative time: Showings, applications, lease preparation

    • When to Renew vs. Turn

  • Renew if turnover costs exceed the rent difference over the lease term
  • Turn if market rent is significantly higher and the unit needs updates anyway

    • Ejemplo Resuelto

    Current rent $1,650, renewal offer $1,750, market rent $1,850, 30 days vacancy, $2,500 make-ready, $1,000 leasing fee, 12-month lease.

    1. Renewal revenue: $1,750 x 12 = $21,000
    2. Vacancy cost: $1,850 / 30 x 30 = $1,850
    3. Total turnover cost: $1,850 + $2,500 + $1,000 = $5,350
    4. New tenant gross: $1,850 x 12 = $22,200
    5. New tenant net: $22,200 - $5,350 = $16,850
    6. Renewal wins by: $21,000 - $16,850 = $4,150
    7. Break-even new rent: ($21,000 + $5,350) / 12 = $2,196