1. What is Vacancy Percentage?

Vacancy percentage is a key metric in real estate and property management that shows the proportion of unoccupied units relative to the total number of units available. It's an important indicator of property performance and market conditions.

2. How Does the Calculator Work?

The calculator uses the vacancy percentage formula:

Where:

• \( \text{Vacant Units} \) — Number of unoccupied units
• \( \text{Total Units} \) — Total number of units in the property

Explanation: The formula calculates what percentage of the total available units are currently vacant.

3. Importance of Vacancy Percentage

Details: Vacancy rates help property owners and managers assess property performance, make pricing decisions, and evaluate market conditions. Lower vacancy rates typically indicate stronger demand.

4. Using the Calculator

Tips: Enter the number of vacant units and total units. Both values must be positive numbers, and vacant units cannot exceed total units.

5. Frequently Asked Questions (FAQ)

Q1: What is a good vacancy percentage?
A: This varies by market and property type, but generally 5-8% is considered healthy in most residential markets.

Q2: How often should vacancy percentage be calculated?
A: Monthly calculations are common for property management, but quarterly may be sufficient for individual investors.

Q3: Does this work for commercial properties?
A: Yes, the same formula applies to residential, commercial, and mixed-use properties.

Q4: Should I include units under renovation?
A: Typically yes, unless they're completely uninhabitable and not marketable in any way.

Q5: How does this differ from occupancy rate?
A: Occupancy rate is simply 100% minus the vacancy percentage.