What is general vacancy?
Income lost when units are physically unoccupied or unavailable for rent during the year: turnover gaps, lease-up time, and units offline for repairs. A common stabilized baseline is ~5% of GPR.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.