The formula to calculate the Vacancy Percentage (VP) is:
\[ VP = \left( \frac{VU}{TU} \right) \times 100 \]
Where:
Vacancy percentage is a metric used in real estate to indicate the proportion of all available units in a rental property, such as an apartment complex or office building, that are unoccupied at a given time. It is an important indicator of the property’s performance, rental demand, and overall market conditions. A high vacancy percentage may suggest a need for rent adjustments, improved marketing strategies, or property upgrades.
Let's say the number of vacant units (VU) is 5, and the total number of units (TU) is 50. Using the formula:
\[ VP = \left( \frac{5}{50} \right) \times 100 = 10 \% \]
So, the vacancy percentage (VP) is 10%.
