If you’re new to being a landlord or have never gone through a tenant turnover, I advise you to take time to learn about the costs you could be hit with when a tenant moves out. The most obvious cost is the loss of rent when there is a gap between tenants and your rental unit is vacant. You will also have a variety of costs related to a tenant leaving, finding a new tenant, and the fees associated with
getting the rental unit ready for a new tenant, which includes things like cleaning, repairs, and maintenance.
Costs can increase if your tenant moves out acrimoniously and they leave your place in a mess without bothering to clean, or they cause intentional damage out of spite. The American Apartment Owners Association provides a comprehensive list of costs you should be prepared for.