Contracted Occupancy Rate (sqm)
What is it?
Contracted Occupancy Rate (sqm) represents the percentage of total leasable area for a property that is contracted for occupancy, including all existing contracts as well as all upcoming contracts that have not yet commenced, but excluding any terminated or cancelled contracts. It shows the portion of the property's total area that is currently leased or contracted.
How is it calculated?
(Total contracted area / Total available area) x 100 = Contracted Occupancy Rate (%)
* Including upcoming contracts, excluding terminated contracts
Why is it important to follow?
Contracted Occupancy Rate (sqm) is a crucial indicator of a property's occupancy level and potential revenue base. By tracking this metric, property owners and managers can gain insights into how well the property is leased and how much more space is available for leasing. It's important for assessing the property's profitability and for making strategic decisions regarding leasing and marketing efforts to maximize revenue from the property.
Created by Homepal
3/21/2024
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