Property 

Definition

Property, as used in Flexible Real Estate Management, refers to the land only; it does not include the buildings on it.

Properties are parts of a business entity.

The system automatically creates property as an internal Controlling object; in other words a property is an account assignment object.

Use

This object forms the basis for renting properties or parts thereof, such as parking spaces or storage spaces.

Structure

General Data/Building Law and Usage/Economic Balance/Values/Posting Parameters

You can enter details on the quality of the property, land values, municipality and topographical location as well as data on building and usage rights. This is all informational data only.

You can also make assignments to a profit center or a business area.

The parameters for calculating deductible input tax (option rates) in the rental process are based on German law.

Partner

You assign owners to the property according to their ownership share.

Availability

Using real estate objects, you can map lease-out processes (objects you own) as well as lease-in processes (externally owned objects). Time-dependent indicators control which objects are available for which processes.

Plant Maintenance

Using the Plant Maintenance (PM) component, you can assign functional locations, or have the system assign them automatically if you make the appropriate setting in Customizing.

Architectural View

It is possible to link a property with an architectural object that already exists in the system.