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

SAP Term: management contract

• Component: RE

• Component Name: Real Estate Management

• Description: Third party management A contract between the owner of real estate and the real estate manager, who administers the real estate on behalf of the owner. Management contracts are represented using real estate contracts, for example, a contract with the contract type for individual condominium management.

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• Key Concepts: 
  A management contract in SAP Real Estate Management (RE-FX) is a legally binding agreement between a landlord and a tenant. It defines the rights and obligations of both parties, such as the duration of the contract, the rent amount, and other conditions. The contract also includes information about the property, such as its location, size, and features. 
  
  How to use it: 
  In SAP RE-FX, a management contract is created by entering the relevant information into the system. This includes details about the landlord and tenant, as well as the property itself. Once all of the information has been entered, the contract can be saved and used for future reference. 
  
  Tips & Tricks: 
  When creating a management contract in SAP RE-FX, it is important to ensure that all of the information is accurate and up-to-date. This will help to avoid any potential disputes or misunderstandings between the landlord and tenant in the future. 
  
  Related Information: 
  For more information about management contracts in SAP RE-FX, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials on how to create and manage contracts in SAP RE-FX.