Vacancy
The number of units or space (of a specific commercial type) that are vacant and available
for occupancy at a particular point in time within a given market (usually expressed as a
vacancy rate).
Vacancy allowance
A desirable level of vacancy that is known to facilitate transactions and turnover in a
housing market (for example, a vacancy rate that allows the market to operate smoothly
and efficiently by enhancing household mobility); an index used for estimating housing
demand.
Vacancy rate
The percentage of the total supply of units or space of a specific commercial type that is
vacant and available for occupancy at a particular point in time within a given market.
Variable
A measurable attribute of a person, place, property, location, or other phenomenon of
interest, whose value may vary from observation to observation.
Variable expenses
Costs, such as utilities, that vary with a building’s occupancy rate.