A Step-by-Step Guide to Calculating Turnover Rent in Rental Properties

2. Introduction to turnover rent in rental properties Yardi Voyager is a leading property management software that offers a wide range of features to streamline the management of rental properties. One of the most game-changing features of Yardi Voyager is the ability to leverage turnover rent. In this article, we will explore the concept of turnover rent, its benefits, and how to effectively use it in Yardi Voyager to drive success for your business. Understanding the concept of turnover rent in rental properties Turnover rent in rental properties is a unique and innovative approach to rent calculation that allows property owners to share in the success of their tenants. Traditionally, rent has been determined based on a fixed amount per square footage or a percentage of the property’s value. However, turnover rent in rental properties considers the income generated by the tenant’s business. As the tenant’s business grows and becomes more successful, the rent also increases, creating a win-win situation for both parties.

3. Benefits of using turnover rent in rental properties with Yardi Voyager There are several benefits to using turnover rent in Yardi Voyager. First and foremost, it allows property owners to align their interests with their tenants. By tying the rent to the tenant’s income, property owners have a vested interest in helping their tenants succeed. This can lead to stronger tenant relationships, increased tenant retention, and, ultimately, higher rental income. Additionally, turnover rent provides a more accurate representation of the property’s value. Instead of relying solely on fixed amounts or percentages, turnover rent in rental properties considers the actual performance of the tenant’s business. This ensures that the rent is fair and equitable for both parties.