# iii. Leasing, Tenancy & Occupancy Leasing, tenancy, and occupancy govern how space within a property is allocated, contracted, and utilized. These dynamics directly influence revenue stability, operating performance, and long-term asset value across real estate asset types. #### **Base Rent** The fixed rental amount paid by a tenant for the right to occupy space, excluding additional charges. #### **Creditworthiness** An assessment of a tenant’s financial ability to meet lease obligations. #### **Lease Abstract** A summarized record of key lease terms used for analysis, reporting, and management. #### **Lease Term** The length of time a lease agreement remains in effect. #### **Leasing Strategy** The approach used to attract, retain, and structure tenants to meet asset performance goals. #### **Net Lease** A lease structure where tenants pay some or all property operating expenses in addition to rent. #### **Occupancy Rate** The percentage of rentable space that is occupied by tenants at a given time. #### **Rent Concession** Incentives offered to tenants, such as free rent or tenant improvements, to secure or retain occupancy. #### **Tenant Improvement (TI)** Build-out or modifications made to leased space to accommodate tenant needs. #### **Tenant Mix** The composition of tenants within a property, influencing income stability and risk. #### **Turnover** The rate at which tenants vacate and new tenants occupy space within a property. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://info.building.inc/lexicon/operations-and-asset-management/iii.-leasing-tenancy-and-occupancy.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.