I would suggest still using some General Vacancy, as it’s a reflection of the credit loss risk at the property. Nevertheless, I understand the conundrum about hitting the deal too hard with a General Vacancy.
With that said, the ORI module will apply downtime between leases. So if you have seven leases, when each lease expires there will be down months when occupancy will drop. This is determined by the 1st generation lease terms (ORI-RR – columsn I and J), future generation lease length (column BK) future generation renewal probability (column BJ), and future generation downtime (column BL).
You can then go to row 56 of the ORI-OpSt tab and track the physical occupancy at the property.
If you want more granularity and the above isn’t enough. You can manually restrict max occupancy using the ‘Available Space %’ row (row 55 on ORI-OpSt) tab. So you could manually max income out at say 95% during certain periods.
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