Tenant turnover and vacancy tracker: monitor move-outs, move-ins, and prorated rent
Unit B has no tenant between one lease ending and the next starting. A turnover touches three places: the vacancy log on Units & Leases, move dates on the Rent Ledger, and one Deposits row per tenant.
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General information only, not tax, legal or accounting advice. Late-fee, deposit and notice rules vary by state, city and lease; check your own. Names and numbers in the example are invented.
What changes for this kind of rental
Three of the four units here are occupied and paid in full, so the ledger below lists only A, C and D. Unit B has no tenant: on Units & Leases its Status is typed as Vacant and its rent cell holds the asking rent, which the sheet totals apart from scheduled rent. The vacancy log at the bottom of that tab holds one row per vacancy: Unit, First vacant day and Next lease start, left empty while the unit is still vacant.
The Rent Ledger does not detect a turnover, you type it. Put a Move-out date on the leaving tenant's last row and a Move-in date on the arriving tenant's first row, and Days charged and Rent due prorate that month by the Start Here rule, Actual days or a 30-day month. The days in between go in the vacancy log. Deposits are typed the same way, one row per tenant.
A worked month: The Commons Building
Invented names and numbers, to show the shape. 4 units on the Units & Leases tab, all with the Property cell set to The Commons Building.
| Unit | Tenant | Monthly rent |
|---|---|---|
| A | Elena Rodriguez | $1,550 |
| B | Vacant (asking rent) | $1,500 |
| C | Frank Kimura | $1,450 |
| D | Grace Thompson | $1,600 |
Occupied units schedule $4,600 a month. The vacant unit adds $1,500 of asking rent, so potential monthly rent is $6,100.
One Rent Ledger row per occupied unit for the month:
| Unit | Tenant | Rent due | Amount paid | Balance |
|---|---|---|---|---|
| A | Elena Rodriguez | $1,550 | $1,550 | $0 |
| C | Frank Kimura | $1,450 | $1,450 | $0 |
| D | Grace Thompson | $1,600 | $1,600 | $0 |
| Total | $4,600 | $4,600 | $0 |
The month shows $4,600 collected of $4,600 scheduled, with $0 still owed.
Bills for the month, one Expenses row each:
| Bill | Category | Amount | How it is logged |
|---|---|---|---|
| Electric and gas, shared lobby and outdoor | Utilities | $320 | Split by units: 4 units, $80 each |
| Exterior wall caulk and paint touch-up | Repairs | $480 | Property level, not split |
| Building manager monthly fee | Management fees | $450 | Property level, not split |
| Hallway and lobby cleaning | Cleaning and maintenance | $200 | Split by units: 4 units, $50 each |
| Total | $1,450 |
The split bills total $520. The Expenses tab divides each equally by the number of units listed for the property (4), so each unit carries $130 of them.
The vacancy log row
Vacant days is next lease start minus first vacant day, within the measured period.
| Unit | First vacant day | Next lease start | Vacant days |
|---|---|---|---|
| B | 2026-02-01 | 2026-02-21 | 20 |
Where each piece goes in the workbook
- Start Here: Choose the proration rule, Actual days or 30-day month, before you type any move date. It applies to a Rent Ledger row when its month holds a Move-in date or a Move-out date.
- Units & Leases: Give Unit B a row with no tenant, Status set to Vacant and the asking rent in Monthly rent. Then add a vacancy log row below the rent roll: Unit B, First vacant day, and Next lease start once a lease is signed. Vacant days in period is a formula.
- Rent Ledger: On the leaving tenant's last row type the Move-out date. On the arriving tenant's first row type the Move-in date. Leave both cells empty for a tenant who stays all month. Days charged and Rent due fill themselves.
- Deposits: Type one row per tenant: Unit, Tenant, Deposit amount and Date received. For the leaving tenant add the Move-out date, the amount kept, a note and Settled on. Refund due appears once the Move-out date is typed; Held now drops to zero when Settled on is typed.
Two formulas worth a cell of their own
- Units in a property, the number behind every split:
=COUNTIF('Units & Leases'!$B$6:$B$15,"The Commons Building")returns 4 here. - Rent paid by one unit across the ledger:
=SUMIFS('Rent Ledger'!$G$6:$G$505,'Rent Ledger'!$A$6:$A$505,"A")returns $1,550 on this example.
Four tracking tips
- Status on Units & Leases is typed, not worked out from the tenant cell. When the new tenant moves into Unit B, type the name and change Status to Occupied yourself. The vacancy log row stays until you change or remove it.
- Physical vacancy on the P&L comes from the vacancy log, so a gap you never log does not show there. Leave Next lease start empty until a lease is signed, and the vacant days then run to the end of the measured period.
- Type a turnover cost such as a cleaning crew with Unit B in the Unit cell and Split by units on No. It then reaches Unit B's line in net operating income by unit, instead of being divided by four.
- Never reuse the old tenant's Deposits row for the new tenant. Separate rows keep what was received, kept and settled for the old tenant intact, and the new row only counts as held once its Date received is typed.
Questions
Does the vacant unit need a Rent Ledger row while it is empty?
The worked ledger above lists only the three occupied units. The Rent Ledger holds typed rows, one per unit per month, and an empty unit has no tenant to bill, so the empty stretch is recorded in the vacancy log instead. Unit B's asking rent is totaled apart from scheduled rent on Units & Leases.
What do I type on the Deposits tab when the old tenant moves out?
On that tenant's row type the Move-out date, the amount you kept, a note and the Settled on date. Refund due shows the deposit minus the amount kept once the Move-out date is there. What you may keep, and when the rest goes back, is up to your lease and local rules.
Related landlord guides
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