In real estate, downtime refers to the period during which rentable space remains vacant between tenants, posing a financial challenge for property owners and managers aiming for continuous revenue from their assets.
Frictional vacancy refers to the short-term, transitional unemployment situation in real estate when properties are vacant due to tenants moving in or out. It represents the natural turnover rate within the market.
Turnover rate refers to the percentage of tenants, employees, or salespeople that leave a property, company, or organization within a specific time frame, typically within a year.
