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8 points

What’s an acceptable vacancy rate for you, considering people need to move occasionally? Anything under 5% is generally considered a “very hot” rental market and will likely see price increases.

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No, but people move from out of town, and even for people moving within a city, they don’t move into currently-occupied apartments.

There need to be some number of apartments open at any given time so that people who need to move can do so. 100% occupancy would mean that every move would have to be a swap, or that no one new could move to town.

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