Property Management
What is a vacancy rate and how is it calculated?
AThe percentage of time a property is leased
BThe percentage of units that are unoccupied during a given period, calculated as vacant units / total units✓ Correct
CThe percentage of rent that is uncollected
DThe time between tenant move-out and new lease signing
Explanation
Vacancy rate = Number of vacant units / Total units x 100. A 5% vacancy rate means 5 out of 100 units are unoccupied. It is used to calculate effective gross income (EGI = PGI x (1 - vacancy rate)).
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