A free tool for Brooklyn landlords
What does an empty apartment cost you?
A small rent adjustment can look expensive until you put the empty days beside it. Compare two scenarios over the same next 12 months.
The next 12 months
- Rent forgone while vacant
- $4,000
- 12-month cost of the rent reduction
- $1,200
- Vacant days that equal that reduction
- 9.0 days
- Rent collected: wait, then asking rent
- $44,000
- Rent collected: lower rent, immediate start
- $46,800
Starting immediately at the lower rent produces $2,800 more over the next 12 months in this scenario.
How to read the result
At $4,000 a month, 30 empty days forgo about $4,000 in rent. A $100 monthly reduction costs $1,200 over a full 12 months. In that example, avoiding more than nine vacant days outweighs the reduction within the comparison period.
This does not tell you which rent the market will accept. It shows what the delay would cost under your assumptions. A lower asking rent may still take time to secure a renter.
The assumptions matter
- Both scenarios start today and end 12 months from today. This is a fixed comparison window, not a comparison of two complete leases with different start dates.
- For simple estimates, each month is 30 days. The waiting scenario earns no rent during the vacant days and earns the asking rent for the rest of the window.
- The lower-rent scenario assumes an immediate start and full rent collection throughout the window.
- The calculation excludes concessions, leasing fees, repairs, carrying costs, renewal changes and missed payments.
Use the formulas yourself
Annual reduction = (asking rent − lower rent) × 12
Break-even vacant days = annual reduction ÷ asking rent × 30
Before you change the asking rent
Look at what is happening between the listing view and the application. Missing layout information can stop an inquiry. Difficult showing access can stop a visit. If renters view the apartment and repeatedly choose competing apartments, review their feedback alongside the price.
The rental launch checklist walks through the details to check. For a rent review, send me the address, current listing and when the apartment will be ready.