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Real Estate Terms
 
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Occupancy Rate
In real estate, the number of units in a building that have been rented out as compared to the total number of units in the building. An apartment building containing 20 units, 18 of which had renters, would have a 90% occupancy rate. A 200-room hotel with 150 rooms occupied would have a 75% occupancy rate. Conversely, the vacancy rate is the number of units in a building that are not rented out as compared to the total number of units in the building.

Open Car Park

Open House
A scheduled period of time in which a house or other dwelling is designated to be open for viewing for potential buyers. Open house can also refer to the real estate property itself. In either case, it applies to dwellings that are for sale by the owner. Open houses will often be held to advertise a newly developed community.

Outside Broker
1. A real estate salesperson and deal facilitator who works for a competing real estate company. 2. A securities broker who does not belong to a major exchange or who deals mainly in securities that aren't traded on exchanges.

Owner-Occupant
A resident of a property who also holds the title to that property. In contrast, an absentee owner holds title to the property but does not live there. A landlord is a type of absentee owner.

 

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