the act of occupying or taking possession of a building
"occupation of a building without a certificate of occupancy is illegal"
The act of occupying, the state of being occupied or the state of being an occupant or tenant.
"The hotel's occupancy rate has reached its highest level since last summer."
In plain English: Occupancy is when people are actually living in or using a place instead of it being empty.
"The hotel occupancy was at ninety percent during the summer vacation season."
Usage: Occupancy refers to the condition where people are living in or using a space, such as when checking hotel room availability. It is often confused with occupation, which describes one's job rather than their residence.
Occupancy comes from combining the word occupant with the suffix -cy. It was formed to describe the state or quality of being an occupant.