Current occupancy refers to the current state or status of occupancy of a property, typically in the context of real estate transactions or property management. It indicates whether a property is currently being used or occupied by tenants, owners, or occupants. Understanding the current occupancy of a property is essential for various purposes, including determining rental income, assessing property value, conducting inspections, or facilitating property transfers. In real estate transactions, buyers, sellers, lenders, and investors often inquire about the current occupancy status to evaluate the property’s income potential, risks, and marketability. Property managers also monitor current occupancy to ensure compliance with lease agreements, maintain occupancy levels, and address any issues related to vacant or occupied units.
The current percentage of units in a building or property that is leased.
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This glossary post was last updated: 29th March 2024.
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