Occupancy

The percentage of lots in a park that have a home on them and a paying resident.

Occupancy in a mobile home park context refers to how many of the park's lots are currently rented and producing income. Operators distinguish between physical occupancy (lots with a home on them, regardless of payment status) and economic occupancy (lots that are actually paying). A park can have 100 percent physical occupancy while running 88 percent economic occupancy because of delinquent residents, and the gap between the two is one of the cleanest indicators of collection-side health. Multi-park portfolios typically report occupancy at both park level and portfolio level, with trended-over-time charts that lenders and investors expect in monthly statements.

Related Terms

Economic Occupancy

The percentage of expected rent that a park is actually collecting.
Lot

The individually rented parcel of land within a mobile home park where a single home sits.
Physical Occupancy

The percentage of lots in a park with a home on them, regardless of whether the resident is paying.

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