What is event-driven fee in SAP RE - Real Estate Management?

SAP Term: event-driven fee

• Component: RE

• Component Name: Real Estate Management

• Description: The fee payable to a property manager when a particular predefined event occurs. &EXAMPLE& After every tenant changeover On the sale of a property

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• Key Concepts: 
  Event-driven fees in SAP Real Estate Management (RE-FX) are fees that are triggered by certain events, such as the signing of a lease or the expiration of a lease. These fees can be used to cover costs associated with the event, such as legal fees or administrative costs. 
  
  How to use it: 
  Event-driven fees can be set up in RE-FX by creating a fee type and assigning it to a specific event. The fee type can then be assigned to a contract or lease, and the fee will be triggered when the event occurs. The fee can be set up to be paid by either the tenant or the landlord, depending on the agreement between them. 
  
  Tips & Tricks: 
  When setting up an event-driven fee, it is important to ensure that all relevant information is included in the fee type. This includes the amount of the fee, when it should be paid, and who should pay it. It is also important to ensure that the fee is set up correctly so that it is triggered at the right time. 
  
  Related Information: 
  For more information on setting up event-driven fees in RE-FX, please refer to SAP's documentation on Real Estate Management (RE-FX). Additionally, there are many online resources available that provide detailed instructions on how to set up event-driven fees in RE-FX.