What is third-party management in SAP RE - Real Estate Management?

SAP Term: third-party management

• Component: RE

• Component Name: Real Estate Management

• Description: All tasks taken on by a property manager when managing real estate objects that belong to another owner. One specialized type of third-party management is acting on behalf of a condominium owners' association.

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• Key Concepts: 
  Third-party management in SAP RE Real Estate Management is a process that enables companies to manage their relationships with external parties, such as tenants, landlords, and service providers. It allows companies to track and manage all of their interactions with these external parties, including contracts, payments, and other documents. 
  
  How to use it: 
  In SAP RE Real Estate Management, third-party management is used to manage relationships with external parties. Companies can create contracts and agreements with these external parties, track payments and other documents related to the relationship, and monitor the performance of the external party. 
  
  Tips & Tricks: 
  When using third-party management in SAP RE Real Estate Management, it is important to ensure that all contracts and agreements are up-to-date and accurate. Additionally, it is important to keep track of all payments and documents related to the relationship in order to ensure that everything is running smoothly. 
  
  Related Information: 
  For more information on third-party management in SAP RE Real Estate Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tips and tricks for using this feature.