IFMA CFM Question Answer
What is the definition of physical vacancy?
Percentage of units that are unoccupied and available for lease
Spaces occupied but in delinquencies
Percentage of units that are occupied but are not producing income
Leasable space that is used for other purposes or is otherwise impossible to lease
Physical vacancy (A) is defined as the percentage of units that are unoccupied and available for lease.
Facility managers track vacancy rates to measure space utilization and rental potential.
Why not other options?
(B) Spaces occupied but in delinquencies relate to financial issues, not physical vacancy.
(C) Occupied but non-revenue-producing spaces refer to economic vacancy.
(D) Leasable but unusable space is classified as "non-leasable inventory."
TESTED 02 Aug 2025
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