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

SAP Term: usage type

• Component: RE

• Component Name: Real Estate Management

• Description: Describes the purpose of a rental unit. Example: office, privately financed, parking space. There are two types of usage types - external and internal. External usage types are maintained in Customizing and have particular characteristics of internal usage types. An external usage type always corresponds to an internal usage type. Internal usage types cannot be changed and are grouped in different usage categories. The following internal usage types are delivered: 01 Privately financed apartment 02 Public authority supported accommodation 03 Commercial tenancy law 04 Commercial parking space 05 Private parking space 06 Mixed usage rental units 07 Advertizing space 08 Stand area 09 Commercial and private parking space

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• Key Concepts: 
  Usage type is a feature of 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 helps users to better manage their real estate portfolio and make informed decisions about their investments.
  
  How to use it: 
  Usage type can be set up in the RE system by creating a usage type master record. This record contains information about the usage type, such as its description and the associated cost factors. Once the master record is created, it can be assigned to a real estate object in the system. This will allow users to track and analyze the usage of each object in their portfolio.
  
  Tips & Tricks: 
  When setting up usage types in the RE system, it is important to ensure that all relevant information is included in the master record. This will help users to accurately track and analyze their real estate portfolio. Additionally, it is important to keep usage types up-to-date as changes in the market may require adjustments to existing usage types.
  
  Related Information: 
  For more information on usage types in SAP Real Estate Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_RE/latest/en-US/f9f8d7a2b3e14c8a9f3d7c2b6f5e4d1a.html