Reducing Vacancy Rates in Managed Properties

Vacancy rates are a common challenge in multifamily real estate. Property owners should develop effective strategies to minimize this rate so as to optimize their investment returns.

Vacancy rate is the percentage of vacant units in a multifamily property. It represents units that are vacant because a tenant left, as well as those that are not rentable because they require repairs or renovations. Property owners and managers calculate vacancy rate by adding up all vacant units, dividing this number by the total units a property has, and multiplying the result by 100. For example, a property with 200 units, 20 of which are vacant, has a vacancy rate of 10 percent (20/200x100).

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