What is occupancy obligation in SAP RE - Real Estate Management?

SAP Term: occupancy obligation

• Component: RE

• Component Name: Real Estate Management

• Description: Laws, guidelines or other rules including internal company rules governing accommodation and usage entitlements. &EXAMPLE& Statutory requirement within authority-supported accommodation §4 WoBindG - German law governing housing commitment, whereby the landlord can rent an apartment only to people in possession of an appropriate accommodation entitlement certificate.

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• Key Concepts: 
  Occupancy obligation is a term used in SAP Real Estate Management (RE-FX) to refer to the contractual agreement between a tenant and a landlord. It outlines the terms of the lease, such as the duration of the lease, the amount of rent to be paid, and any other conditions that must be met. 
  
  How to use it: 
  In SAP RE-FX, occupancy obligations are created when a tenant signs a lease agreement with a landlord. The details of the agreement are entered into the system, including the duration of the lease, the amount of rent to be paid, and any other conditions that must be met. The system then generates an occupancy obligation document which is used to track and manage the agreement. 
  
  Tips & Tricks: 
  When creating an occupancy obligation in SAP RE-FX, it is important to ensure that all details are accurately entered into the system. This will help ensure that all parties involved in the agreement are aware of their obligations and can easily track and manage them. 
  
  Related Information: 
  SAP RE-FX also includes features such as rent calculation, payment processing, and reporting. These features can be used to help manage occupancy obligations and ensure that all parties involved in the agreement are aware of their obligations.