Vacancy

Beginner ๐Ÿ  Real Estate

Definition

An unoccupied position, space, or place; an empty room or job opening. It can refer to physical emptiness or an unfilled position in employment or housing.

Example Usage

The hotel had only one vacancy left, so the travelers were relieved to secure a room for the night.

Origin

From Old French vacance, from Latin vacantia, meaning emptiness or freedom, from vacare (to be empty).

Fun Fact

In real estate, 'vacancy rate' is an important economic indicator that measures the percentage of unoccupied rental units in a market.

Source: Definition backfill (hailey)

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