Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

The True Cost of Losing a Tenant

7 Apr 2026 · 1 min

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This content was created by Joe Downs. This content was uploaded by Joe Downs. This is a YouTube video titled "The True Cost of Losing a Tenant" (uploaded 2026-04-07). The excerpt is a short monologue by a single speaker (labeled SPEAKER A) giving practical financial advice to boat/RV park owners and real estate investors about tenant retention: the high cost of losing tenants versus retaining them, how vacancies affect occupancy and NOI, and the importance of calculating breakeven occupancy and modeling downside cases.

The cost to lose one tenant is 3 to 7 times what it costs to keep one. Multiply that by any churn you're experiencing and the financial, financial case for investing in retention is overwhelming. Here's the frame you want to carry with you at every boat and RV deal. Know the math. At 100 spaces, every 10 vacancies is 10% occupancy. Calculate your breakeven occupancy on every deal before you bid. Know what a 10-vacancy event does to your NOI. Model it in your downside case.