What is Vacancy Rate?
The vacancy rate (or rental vacancy rate) of a property represents;
- Vacant units ready to be rented
- Units recently made vacant by tenants
- Units in need of repair
A Vacancy rate (or rental vacancy rate), is usually presented as a percentage of the empty/vacant/unoccupied/available units in a rental property.
This figure is an important indicator for property owners to know how their investment is performing in the rental market.
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