What is maintenance reserve in SAP RE-FX - Flexible Real Estate Management?

SAP Term: maintenance reserve

• Component: RE-FX

• Component Name: Flexible Real Estate Management

• Description: Condominium owners' association COA In Germany, condominium owners' associations are legally required to build up maintenance reserves of an appropriate amount. According to these laws regarding maintenance reserves, the association can also build reserves for other purposes, such as swimming pools, or other shared facilities. Maintenance reserves are the property of the condominium owners' association, and are not returned to the individual owners if they sell their condominiums, for example.

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• Key Concepts: 
  Maintenance reserve is a feature of the RE-FX Flexible Real Estate Management component of SAP. It allows users to set aside a certain amount of money for future maintenance and repair costs associated with a property. This money is held in a separate account and can be used to pay for any necessary repairs or maintenance that may arise in the future. 
  
  How to use it: 
  To use the maintenance reserve feature, users must first set up a separate account in SAP. This account will be used to store the funds that are set aside for future maintenance and repair costs. Once the account is set up, users can then specify how much money they want to set aside for future maintenance and repair costs. The funds will then be transferred from the user’s main account into the maintenance reserve account. 
  
  Tips & Tricks: 
  It is important to remember that the funds in the maintenance reserve account are not available for other uses. Therefore, it is important to ensure that enough money is set aside in this account to cover any potential future maintenance and repair costs. Additionally, it is important to regularly review the balance of this account to ensure that it is sufficient for any potential future needs. 
  
  Related Information: 
  The maintenance reserve feature of RE-FX Flexible Real Estate Management can be used in conjunction with other features such as budgeting and forecasting tools. Additionally, this feature can be used in combination with other SAP components such as Financial Accounting (FI) and Controlling (CO).