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
The grantee who is the tenant of a life estate. When the tenant dies, the estate goes back to the grantor. For example, President Eisenhower and his wife, Mamie, were life tenants of the ...
Right to property depends on some occurrence. ...
Listing Agreement A.K.A. Listing is basically a contract allowing a real estate agent or broker to list a home for sale and act as the home seller agent representing his/her interests ...
Term indicating a resemblance or analogous to a legal classification. For example, a quasi corporation, quasi contract, quasi possession, quasi offense. ...
The closing process is the final step of a property sale. It starts when the home seller agrees to the home buyer’s offer and it ends after all Closing costs are paid ...
Rear lining of chimney. An acceptable chimney back lining can be achieved by plastering the interior surfaces of the chimney. A better alternative, however, is a manufactured lining of ...
Legal contract in which the lender controls the pledged property being financed. The agreement describes the property and its location. Of default occurs, the lender may sell the ...
Limited partnership in which limited partners rely on the general partner to choose specific properties after the funds are available. ...
A column designed to support a concentrated load. A pier column is made out of steel, steel reinforced concrete or wood. A structure extending out into the water supported by numerous ...
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