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 Object Availability of Real Estate Objects

Use

You can use the Real Estate component to assign real estate objects ( business entity , property , building , rental unit ) to various business processes:

The system checks the availability of an object including the lower-level objects in a hierarchy to ensure business consistency at all times during the assignment.

Prerequisites

The availability of real estate objects is only checked in the tenant rental and (traditional) rental processes. Object availability is not checked in a management contract so the assignment of objects is always possible.

Features

The time-dependent attributes listed by the system for each real estate object contain information about availability. The system can set these attributes or you can enter certain availability statuses manually in the master data of the objects.

Object Availability Status

Effect

In own portfolio (in a company code)

If a real estate object is created (standard assignment period is normally 00/00/0000 - 12/31/9999), the system automatically sets the status.

If, for example, you purchase an object that you previously tenant rented and want to transfer it to your own portfolio, you can set the system status manually.

The system allows:

  • the rental of the object

  • the tenant rental of the object

The system does not allow the tenant rental of the object (except for own usage).

Tenant rented

If an object is assigned to a tenant rental contract, the system automatically sets the status. An object is also assigned this status if an object that is a lower-level one in the hierarchy is tenant rented such as all rental units in an assigned building.

The status cannot be manually changed.

The system allows the rental of the objects.

The system does not allow the tenant rental (assignment to a lease-in) of the object in the same period or in periods that overlap.

Not available

The system is not in your own portfolio. For example, the corresponding lease-in may have expired (the system automatically sets the status) or an object is sold from your own portfolio (set status manually).

We recommend setting this status if the object has been created for the tenant rental. This ensures that the object is not rented to another party prior to the assignment.

Exception: tenant rental of newly created objects: If an object is transferred to a lease-in while it still has a status that corresponds to the default status ( In own portfolio for entire time period), the object has the status tenant-rented and the status Unavailable is automatically assigned for the remaining time period (in this case, the default status In own portfolio is not applied to the remaining period).

The system allows the new tenant rental of the object (assignment to a lease-in).

The system does not allow the rental of the objects.

Mixed/undefined

Describes the status of an object if the lower-level objects belonging to it have a different status. For example, a building has three rental units with the status Tenant rental, In own portfolio and Unavailable respectively.

This is the case if the lower-level object is assigned to a lease-in but the higher-level object is not.

This status can be manually changed to:

  • Not available: always allowed

  • In own portfolio: allowed if all the lower-level objects are in your own portfolio

The system allows the rental of the objects only if:

  • All lower-level objects have the status In own portfolio and/or tenant rented status

  • Their lower level objects also (in whole or in part) have Mixed status.