What is external usage type in SAP (RE - Real Estate Management)?

SAP Term: external usage type

• Component: RE

• Component Name: Real Estate Management

• Description: The purpose for which a rental unit is used, for example, as an office, privately-financed apartment, parking space, and so on. External usage types are maintained in Customizing and influence the: Field status of the rental unit Real estate contract Rent adjustment Service charge settlement

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• Key Concepts: 
  External usage type is a feature in SAP Real Estate Management (RE) that allows users to define the purpose of a real estate object. It is used to classify objects according to their usage, such as residential, commercial, or industrial. This classification helps users to better manage their real estate portfolio and make informed decisions. 
  
  How to use it: 
  External usage type can be used in SAP RE by creating a new external usage type in the system. This can be done by navigating to the “External Usage Types” tab in the system and selecting “Create”. From there, users can enter the name of the external usage type and select the appropriate category from the drop-down menu. 
  
  Tips & Tricks: 
  When creating an external usage type, it is important to ensure that all relevant information is entered accurately. This will help ensure that the data is properly classified and can be used for accurate reporting and analysis. Additionally, it is important to keep track of any changes made to external usage types as this can affect how data is reported and analyzed. 
  
  Related Information: 
  For more information on external usage types in SAP RE, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/REAL_ESTATE_MANAGEMENT/100/en-US