What is current occupancy principle in SAP RE - Real Estate Management?

SAP Term: current occupancy principle

• Component: RE

• Component Name: Real Estate Management

• Description: A specific expenses settlement in Austria for settlement periods in which a rental object was not fully rented or was empty. This principle can only be applied to costs that do not fall under the Austrian heating expenses settlement act Heizkostenabrechnungsgesetz, or HeizKG. Example for operating costs and cold water costs: If the rental object is not rented on the last day of the settlement period, the landlord bears the operating costs and cold water costs for the entire settlement period. If the rental object is rented on the last day of the settlement period, the renter bears the operating costs and cold water costs for the entire settlement period. This is the case even if the renter was not living in the rental object for the entire settlement period. In return, he/she will be credited with the advance payments or agreed imputed advance payments for the vacancy rent for the entire settlement period. According to Section 23 of the HeizKG, the renter of the rental object th

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• Key Concepts: 
  The Current Occupancy Principle (COP) is a concept used in SAP Real Estate Management (RE-FX) to manage the occupancy of a property. It is based on the idea that the current occupant of a property should be given priority over any potential new occupants. This means that when a tenant moves out, the current occupant should be given the first opportunity to renew their lease or move into the newly vacated space. 
  
  How to use it: 
  The COP is used to ensure that tenants are not displaced unnecessarily and that they are given the opportunity to remain in their current space if they wish. In order to use the COP, the tenant must first be registered in SAP RE-FX. Once registered, the tenant can then be assigned to a property and their occupancy status will be tracked in SAP RE-FX. 
  
  Tips & Tricks: 
  When using the COP, it is important to ensure that all tenants are registered in SAP RE-FX and that their occupancy status is up-to-date. This will ensure that when a tenant moves out, the current occupant will be given priority over any potential new occupants. 
  
  Related Information: 
  The COP is just one of many features available in SAP RE-FX. Other features include lease management, rent calculation, and reporting capabilities. For more information on SAP RE-FX, please visit the official SAP website.