What is condominium management contract in SAP RE - Real Estate Management?

SAP Term: condominium management contract

• Component: RE

• Component Name: Real Estate Management

• Description: Third-party management A form of management contract. Condominium management contracts are represented in the system by real estate contracts with a contract type for individual condominium management. They define the business relationship between the manager and the condominium owner.

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• Key Concepts: 
  A condominium management contract is a type of contract used in SAP Real Estate Management (RE-FX) to manage the relationship between a condominium owner and a condominium management company. The contract defines the services that the management company will provide, such as maintenance, repairs, and other services, as well as the fees that the owner will pay for those services. 
  
  How to use it: 
  In SAP RE-FX, a condominium management contract is created by entering the details of the contract into the system. This includes information such as the start and end dates of the contract, the services that will be provided, and the fees that will be charged. Once the contract is created, it can be used to track payments and other activities related to the contract. 
  
  Tips & Tricks: 
  When creating a condominium management contract in SAP RE-FX, it is important to ensure that all of the details are accurate and up-to-date. This includes making sure that all of the services that are included in the contract are clearly defined, as well as ensuring that all of the fees are correct. Additionally, it is important to review the contract regularly to ensure that it is still valid and up-to-date. 
  
  Related Information: 
  SAP RE-FX also includes other features related to condominium management contracts, such as tracking payments and generating reports. Additionally, SAP RE-FX can be used to manage other types of contracts, such as rental contracts and service contracts.