Property, as used in Flexible Real Estate, 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 property is an account assignment object.

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

You can define details on the quality of the property, land values, municipality and topographical location as well as data on building and usage rights.

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.

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

Using the Real Estate objects, you can map rental processes (objects in your own portfolio) as well as lease-in processes (externally owned objects). A time-dependent indicator controls which objects are available for which processes.

With the Plant Maintenance (PM) component you have the option of assigning functional locations or the system assigns them automatically if you make the appropriate setting in Customizing.

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