A developer is building a 60-unit apartment building. Construction will take 15 months covering all of Year 0 and the first 3 months of Year 1. Tenants will begin moving in the first day of Month 4. Lease up is expected to occur at a rate of 10 units per month until reaching full (100%) occupancy (e.g., 10 units occupied in Month 4, 20 units occupied in Month 5, etc.) What forecasted vacancy rate (average vacancy for the year) should be used for Year 1 in the pro forma? Assume 100% occupancy once fully leased up. (CAUTION: The question asks for the VACANCY percent, NOT occupancy percent.) (

A developer is building a 60-unit apartment building. Construction will take 15 months covering all of Year 0 and the first 3 months of Year 1. Tenants will begin moving in the first day of Month 4. Lease up is expected to occur at a rate of 10 units per month until reaching full (100%) occupancy (e.g., 10 units occupied in Month 4, 20 units occupied in Month 5, etc.) What forecasted vacancy rate (average vacancy for the year) should be used for Year 1 in the pro forma? Assume 100% occupancy once fully leased up. (CAUTION: The question asks for the VACANCY percent, NOT occupancy percent.) (

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter18: Life-cycle Costing

Section: Chapter Questions

Problem 18RQ

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