• Difference between physical and economic occupancy? 
  • How do they differ in numbers? 
  • Importance of underwriting the deal 
  • What does occupancy/ vacancy mean? 


  • Physical occupancy is the percentage of units that have a signed lease and an occupied tenant. 
  • It's important to understand when you're underwriting your deal, which number to actually use and that's the economic occupancy. What are they actually getting in rents, either month. And some reasons why those numbers might be maybe radically different.  


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