# Landlords-how long is your average tenant stay?



## tobuyornottobuy (Nov 19, 2011)

It was just out of interest really.
I have been a landlady for 5 years and my tenants have ranged from 8months (evicted) to 5 years and still there.
my other tenants have been in for 2years and counting and 9 months and counting.

Apart from my evicted-tenants I have had a generally +ve experience and was wondering if anyone else was able to share how long there tenants have stayed.

If they all stayed 5years (and paid) I would buy more properties!

MC


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## sags (May 15, 2010)

Many of the people in our townhome complex have been here for 20 to 30 years.

It makes me wonder why they never bought a home.............. but some people just don't want the bother.


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## nathan79 (Feb 21, 2011)

In my own experience, about 2 years is average with a minimum of 1 year and a max of 3 years.

My mom has managed a rental for about 18 years, and she's had tenants stay anywhere between a few months and 4 years. Again, 2 years being about the average.


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## tobuyornottobuy (Nov 19, 2011)

sags said:


> Many of the people in our townhome complex have been here for 20 to 30 years.
> 
> It makes me wonder why they never bought a home.............. but some people just don't want the bother.


WOW...how do you deal with renos etc, presumably in 20 years some major remodelling may be required!


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## jcgd (Oct 30, 2011)

I'm curious what the average stay is depending on age group.


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## Ethan (Aug 8, 2010)

So many factors come into play, including the market, size/quality of the unit, rental price etc.

My house has a bachelor suite in the basement. In the 35 months I've owned the house, I've had 5 different tenants, with stays ranging from 2 months to 13 months. Given that its only a bachelor, it tends to attract students and transient workers (Regina's refinery is going through a major upgrade where they'll bring in workers from Ontario, Quebec and the maritimes for 2-15 months at a time). Anyone who isn't a student or has longer-term employment will want a bigger living space. It's worked out well for me, the suite has been rented out for $700-$800/month the entire time and hasn't been vacant for a single day. I require 1 months notice when the tenants leave and have always found a replacement in that time.


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## Plugging Along (Jan 3, 2011)

I think it really depends on the type of rental and the demographics you are renting to.

Our 2 bedroom condo near the dowtown has averaged about 3 years. Shortest was one year, and most around 4. We rent to young professionals just starting out their careers. Generally, these renters are low maintenance and saving up for their first place. 

The one bedroom in the same place is 10+ years. It's a single guy, mid career, not looking to settle down and now kids.

The single family units I have been managing for my parents average about 9 years. The shortest has been about 4 years, and we have one tenant that will be 20 years. My parents have places near all school, from k to 12, and at least 3 bedrooms. We generally try to find tenants with young kids, and most will stay until their kids are out of school. The rents are relatively low as we want low maintenance tenants. We usually get a call once a year to renew, And occasionally have to fix something. We also try to find handy people, and ask if they are willing to do their own repairs. They get cheap rent, we get a well maintained place.


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## sags (May 15, 2010)

tobuyornottobuy said:


> WOW...how do you deal with renos etc, presumably in 20 years some major remodelling may be required!


The landlord has their own crews to look after the outside maintenance and they usually replace one major thing each year.........two years ago it was the basement window, last year it was the roof.................

Inside.........it is up to the tenant. They allow people to paint and lots of people have remodeled the inside and landscaped their private patio areas. Their units are pretty swanky looking now.

When a tenant eventually moves out............they totally renovate and ramp up the price to current market rates, which can be a huge increase. The landlord said they can't do a proper renovation with the people still living in the unit.........and because people have stayed so long some of the units are nice but outdated.

The lady beside us went into a nursing home after living in the unit for 37 years. Unbelievable, I know. She said her rent "doubled" over the 37 years. I figure she was probably only paying 600 a month or so.

They did virtually nothing to the inside over the years, except she recalled a carpet replacement once.

Inside it was pure 1960s vintage..............turquoise bath tiles and the like.

In our own unit, we painted, ripped out the carpet to discover great maple hardwood floors throughout, and are considering replacing the moldings, doors, putting in a rec room, and professionally landscaping..................if we decide not to buy again.

I figure it is better for us to pay for the remodel ourselves and keep the rent the same, if we intend to stay for a long time.


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## sags (May 15, 2010)

I think the rental market is changing a bit these days.

When we rented our unit in this complex, it was the only one available and we never saw a moving truck for years.

Lately, the long time renters eventually move out, and are being replaced by people who may move again in a year or so.

The people moving in are getting younger and are probably waiting until they buy a home.

Change of demographics, I guess.


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## sags (May 15, 2010)

jcgd said:


> I'm curious what the average stay is depending on age group.


Although it is slowly changing, our units were mostly older people and they don't seem to move very often once they get settled into a place.

The like the area, know some neighbors, catch the buses in front, blah blah..........but older people really don't like change all that much.


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## nathan79 (Feb 21, 2011)

We've never noticed any correlation between age and length of stay. Then again, we've never had a senior tenant either.


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## Jungle (Feb 17, 2010)

1-2 years. Wish it would be longer.


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## Ihatetaxes (May 5, 2010)

My rental terms are 7 days up to 4 months. 

$175-$285/night plus taxes, exit cleaning, etc.

The good thing about short term rentals is they are paid in full before arrival plus a security deposit that is paid in cash and I only return it after they depart and my property manager has inspected the place (and I have looked online at the phone calls made to make sure there were no international calls made). No way for them to stay longer than the contracted term and so far only one small damage that was repaired for under $100.


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## marina628 (Dec 14, 2010)

Our average is 2-3 years but one tenant has been with us 6 years .Ihatetaxes where is your STR?I have done some investigating into this model but the expenses are very high compared to managing a LTR.


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## Rusty O'Toole (Feb 1, 2012)

Years ago the statistics were average 2 years for apartment tenants 4 years for houses. I think this may be over optimistic.

Longest tenancy I know of was 42 years, I know 2 tenants who stayed in the same place that long. One was renting a 3 bedroom apartment for $240 a month, heat and hydro included. This was in the early 2000's. I declined to buy the building because I couldn't afford to subsidize her. The other was a duplex I did buy, because I knew the tenants were moving out in a year. They were paying $400 a month for a 3 bedroom 1 bath brick semi detached in a good neighborhood, worth about $900 at the time.

There was a story in the news a while back about an apartment in Paris that had been rented by the same woman for over 70 years. She left for the south of France at the outbreak of WW2 and never went back, but continued to pay the rent. Recently the apartment was opened up for the first time since the 30s. I think the woman died, in her 90s.

http://parisapartment.wordpress.com...-sleeping-beautys-paris-apartment-discovered/

If they still have rent control in Paris the monthly rent would probably buy a pack of cigarettes.


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## Berubeland (Sep 6, 2009)

I would say across all the properties I manage, one bedrooms run around 18 months, two bedrooms are longer around 2 years and 3 bedrooms longer than that. 

Young people are just usually moving on through waiting to buy. 

If the landlord has failed to increase their rents, it's easy to have an entrenched tenant paying well below market rent. Maybe this is a stereotype but they tend to be very entitled and think the landlord is shitty almost without fail. Seriously real boats rock and 20 years is a long time and lots of stuff will happen in a building in that time. Sit down for tea and 3 hours to waste and you'll get all the gossip since the construction workers laid the foundation.


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## the-royal-mail (Dec 11, 2009)

I must be living on a different planet because in the apt towers I've lived in, my neighbors and myself all lived there for at least 5 years. Usually seniors end up staying until taken away on a stretcher. I see estate sales and notices up on the bulletin board & hear the gossip.


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## sprocket1200 (Aug 21, 2009)

wish all you want. people are fooled by the housing purchase fallacy...!
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Jungle said:


> 1-2 years. Wish it would be longer.


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## Jungle (Feb 17, 2010)

its great they pay the mortgage off for me since 2008, never missed a rent payment, plus some cash flow I use to pay my investment loan. Then there is still money leftover. I've raised rent 3 times now. I will make those tenants pay otherwise they will take advantage of you. But I am getting sick of dealing with tenants, would rather do something ,more passive so when mortgage rate is up, I will kick them out, sell and use equity to pay my own mortgage. 

With some of these reits paying 5-8 % and you do nothing , makes it much easier, you can leverage other places.


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## cfriesen46 (Jan 3, 2014)

I've had a rental house for 6 years now. Consistently had tenants stay for 1 year. This isn't a concern for me and I'm in for the long haul


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## Sasquatch (Jan 28, 2012)

I have an aunt in Berlin who has been living (and still is) in the same apartment for 63 years. Talk about an ideal tenant!!
My wife and I stayed in the apartment for a bit last summer and it was a bit outdated but very comfortable and right in the center of the city.


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## OurBigFatWallet (Jan 20, 2014)

We have had the same tenants for almost two years. It's been great so far. We have strategically priced our rental lower than market so that we can pick the best tenants and so far it's worked out for us


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