New York City Assessor – Civil Service Practice Exam

Question: 1 / 400

What is the formula for calculating the vacancy loss rate expressed as a percentage?

Fixed area (units, sq ft) / total area

Vacant area (units, sq ft) / total area

The calculation of the vacancy loss rate as a percentage is determined using the concept of vacant space in relation to the total available space. The correct formula takes the amount of vacant area, whether that's in units or square feet, and divides it by the total available area, which provides insight into how much space is not currently generating income.

By using the vacant area divided by the total area, you arrive at a ratio that represents the portion of the entire property that is unoccupied. This ratio is then multiplied by 100 to express it as a percentage, indicating the rate of vacancy compared to the total available area.

Understanding this formula is crucial for property management and assessment because it helps stakeholders identify potential revenue loss due to unoccupied spaces and guide strategies to minimize that occurrence.

Get further explanation with Examzify DeepDiveBeta

Vacant units / occupied units

Total area / vacant area (units, sq ft)

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy