Property Management
What does 'vacancy rate' mean in Rhode Island property management?
AThe percentage of units in a building currently occupied
BThe percentage of total rentable units or space that are unoccupied at a given time✓ Correct
CThe number of days a property was on the market
DThe ratio of expenses to gross rents
Explanation
Vacancy rate is the percentage of rentable units or space in a property or market that are currently unoccupied. It is a key indicator of market conditions and property performance.
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