Finance category
Mortgage, loan, investing, tax, and money calculators.
Economic Occupancy Calculator
Economic occupancy = rent collected ÷ gross potential rent. It is the single best revenue metric because it captures everything — physical vacancy, concessions, loss to lease, credit loss, non-revenue units. Physical occupancy is vanity; economic occupancy is sanity.
Economic occupancy
86.1%
Physical occupancy
95.0%
Gap (physical − economic)
8.9%
Total revenue leak
$100,000
Physical vacancy loss
$36,000
Concession/credit/other loss
$64,000
How the math works
Physical occupancy counts occupied units. Economic occupancy counts collected rent as a share of gross potential. A 95% physically occupied property can leak to 88% economic occupancy through concessions, loss to lease, credit loss, and non-revenue units (employee, model, maintenance).
The gap (physical − economic) is the single best read on whether advertised occupancy actually turns into cash. Watch for large gaps — they reveal concession-heavy lease-ups and collection problems.
How to Use
- Enter gross potential rent (every unit at market rent, fully occupied).
- Enter rent actually collected from the last complete year.
- Enter physical occupied unit count and total unit count.
- Read economic occupancy, physical occupancy, and the revenue leak breakdown.
Frequently Asked Questions
Healthy gap size?
A 2-4% gap is normal. 5-8% suggests concession-heavy lease-ups or meaningful collection problems. 10%+ almost always signals a rent roll that will not hold up under ownership transition.
Should employee units count as vacant?
Physically no, economically yes. A rent-free employee unit is 100% economic vacancy — no rent collected. Include it in the leak analysis.
Why does the lender care?
Loans size off NOI, and NOI starts with EGI, which starts with economic occupancy. A physical 95% / economic 86% property gets underwritten at economic — not the marketing number.
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