Property Management
In South Dakota, 'occupancy rate' for a commercial property is calculated as:
AOccupied square footage ÷ total leasable square footage✓ Correct
BNumber of occupied units ÷ total units in the building
CAnnual rent collected ÷ potential gross income
DBoth A and B are correct measures of occupancy
Explanation
For commercial properties, occupancy rate is typically expressed as occupied square footage divided by total leasable area (rentable square footage). For residential, it may be units-based.
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