Occupancy Level
Definition of "Occupancy level"
The number of units currently occupied in a facility, neighborhood, or city, stated as a percentage of total capacity. For example, a hotel has 80 rooms available for guests. Its average occupancy during the off season is 50. Therefore, its average occupancy level during the off season is 50/80=62.5%. The opposite term is vacancy rate would be 30/80=37.5.
Popular Real Estate Terms
Judicially determined minimum selling price for auctioned property. For example, a judge rules that a foreclosed home may be sold for less than $200,000, ...
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There’s no mystery. The actual age of a property is the chronological age of a property. Say a house was built two decades ago. That house’s actual age is 20 years old.The ...
Arrangement the insured and insurer share on a proportional payment for a loss. ...
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In appraisal jargon, property currently being appraised. ...
Legal proceeding to exercise a right in a disagreement between private individuals or businesses. One party seeks a remedy against the other. It does not involve a criminal situation. ...
Dry ravine formed by water runoff. ...
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