Occupancy

Separate people actually using the home, parties and occupants under the agreement, permitted building use, and lawful occupancy limits. Check approved plans, permits and applicable local requirements for a use question; review the actual facts and tenancy rules for a person's status. A condition visit is not automatically the same as an official occupancy inspection. No universal annual inspection rule or short list of building classes applies to every property.

State the date, property scope, unit denominator and what counts as occupied. In an original snapshot example, eight occupied units out of ten defined units gives 8 ÷ 10 × 100 = 80%. This is arithmetic, not a recommended target. Mark leased-but-empty units and unavailable units separately and explain their treatment. For a period measure, define the unit-days or other time basis. Physical occupancy, signed leases and collected rent are different measures.

A lender's occupancy category concerns the borrower's intended or actual use under a particular loan program. Fannie Mae distinguishes principal residence, second home and investment property; that is one program's framework, not a building-use approval or every lender's policy. Disclose the actual plan and ask the lender and insurer about conditions or proposed changes. A high occupancy rate does not establish financing eligibility, lawful rental use or profit.