What is contract type in SAP RE - Real Estate Management?

SAP Term: contract type

• Component: RE

• Component Name: Real Estate Management

• Description: A determiner of the attributes and processes for a contract that defines the following: Lease-out or general contract Permitted adjustment types Permitted periods of notice Correspondence type

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• Key Concepts: 
  Contract type is a feature of SAP Real Estate Management (RE) that allows users to define and manage different types of contracts. It enables users to create and manage contracts for rental, leasing, and other types of agreements. Contract types can be used to define the terms and conditions of a contract, such as the duration, payment terms, and other details.
  
  How to use it: 
  Contract types are created in the RE system by defining the contract type in the contract type master data. This includes setting up the contract type name, description, and other details. Once the contract type is created, it can be used to create contracts in the system. The contract type can also be used to define the terms and conditions of a contract, such as the duration, payment terms, and other details.
  
  Tips & Tricks: 
  When creating a contract type in RE, it is important to ensure that all relevant information is included in the master data. This includes setting up the contract type name, description, and other details. Additionally, it is important to ensure that all relevant information is included in the contract itself when creating a new contract. This includes setting up the duration, payment terms, and other details.
  
  Related Information: 
  For more information on SAP Real Estate Management (RE) and how to use Contract Types, please refer to SAP Help Portal or contact your local SAP representative. Additionally, there are many online resources available that provide detailed information on how to use Contract Types in RE.