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
Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
Lease where, in addition to the rent, the lessee pays the taxes, insurance, and maintenance. As a guarantee for the lessor, the lessee posts a bond payment equivalent to one year's tax, ...
A fixed asset whose utility is derived from its physical attachment to a property and which usually cannot value or damage. A fixture, under the terms of a lease or other agreement, can be ...
Removal of land by the action of water. See also erosion. ...
Pipes transporting water. ...
Also called real property. Anything permanently affixed to the land, such as buildings, walls, fences, and shrubs, as well as the rights to own or use them. It is distinguished from ...
Giving one's approval to another, e.g., a fiduciary, to manage his or her finances. ...
Unexpected growth in an urban locality. ...
Same as term financial institutions and markets: Institutions acting as intermediaries between suppliers and users of money. The financial markets are where those wanting funds are matched ...
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