Definition: Occupancy, in the context of business terms, typically refers to a situation where an entity has both employees and/or customers, as defined by the industry or organization. It may also include services provided such as rent, utilities, and maintenance for buildings. In general, occupancy refers to when all aspects of a building are occupied by occupants, including staff members, visitors, and customers. This often includes physical space but can extend beyond it, such as retail stores that have multiple employees, or offices with both employees and tenants. Occupancy is an important element in any business transaction, as it indicates the financial health of the company. If a business has a high occupancy rate, it may indicate good customer satisfaction and potential for increased sales or revenue. The term "occupancy" can be used to describe various aspects of a business operation, such as managing and maintaining buildings, handling employees and customers, or providing services to businesses.