Leasing
Physical occupancy is the share of units that are leased, regardless of whether the contracted rent is at market.
Updated Sep 12, 2026
Physical occupancy = Occupied units ÷ Total units
Physical occupancy answers “how full is the building?” It does not tell you whether those leases are profitable.
Use it with economic occupancy and days vacant. A 97% physical occupancy with heavy concessions can still miss the budget.
Unitz shows occupancy from live unit and lease status. See Portfolio Analytics.
Economic occupancy is collected or contracted rent as a share of gross potential rent, capturing vacancy, concessions, and loss to lease.
Turnover rate is the share of units that changed occupants during a period, usually a year.
Vacancy loss is the rent you did not earn because a unit was empty or taken off the market during a period.
See this in the product: Portfolio Analytics
Start with an account. Add your properties and finish setup at your own pace.