Glossary – V

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Vacancy

Vacancy by definition is the unrented or unoccupied unit. Most often it represents a unit available for sale or rent, and it currently does not generate income.

Vacancy Rate

The vacancy rate is the percentage showing the number of all unoccupied units in the rental. Meaning the owner can calculate the profitability of the rentals in comparison to the area’s vacancy rate. The units perform better if the percentage is lower.