1. Manage offered objects
An offered object is a rental object that is available for rent. It is converted into an offered object to enable a concordance search to match the offered object (and not the rental object) to suitable RE search requests. You determine which rental object types are automatically created as offered objects per usage type in Customizing. For example, rental objects (rental spaces, rental units and pooled spaces) can be automatically created as offered objects when they are initially created, or when notice is given on an existing real estate contract for the rental of the object. Alternatively they can be generated using the Creation of Offered Objects report (preferably in a periodical batch).
2. Create RE search request
The RE search request describes a real estate object from the viewpoint of the person looking for the object (prospect). You enter generic data about the rental object that the prospect is looking for, as well as all relevant data on the prospect. This data includes requirements regarding rental, such as price, location, usage, measurements, fixtures and fittings and rental start date. The data is not limited to the data directly on the rental object, but can also include data on the business entity or the building. This information is relevant for matching vacant rental objects with the RE search request.
3. Search for offered objects
You search for offered objects directly using the RE search request. You can search using a Standard Search, Extended Search or TRex. The system generates a list of proposals that meet the RE search request requirements. You select suitable objects from this hit list for your prospect. You can assign a status to the offered object found, such as Prospect Favors Object, Prospect Rejects Object, Offer Created, Lease-Out Created or a custom text status where the processor can enter a text of their own. This status serves as a reminder. When processing the RE search request later, the status informs the processor, for example, if the object was already offered to the prospect and possibly how the prospect responded. You can enter additional reasons for each predefined status. Basic details, such as rental object number, basic rent, and area measurements are displayed in the search overview screen allowing the processor to compare object information. You can create contract offers and real estate contracts (lease-outs) directly from the RE search request.
It is also possible to search for offered objects without having a stored RE search request. In this case, you use a fast entry function and the same Customizing data as for entering an RE search request.
4. Create contract offer
You create contract offers to propose vacant rental objects (offered objects) to one or several prospects. When you create a contract offer, the system automatically copies all data relevant to the prospect and the rental object to be rented. You maintain the contract type, such as commercial lease-out, the contract offer description, tenancy law, terms, conditions, posting parameters, and so on for the contract offer. You can monitor the history and status of contract offers created for rental objects in the RE search request.
5. Create contract
a. From contract offer (OR)
When a prospect has decided on a particular rental object, the contract offer can be converted to a lease-out contract. The contractual details are transferred from the contract offer to the lease-out. The business partner prospect is copied to the lease-out contract in the business partner role Master tenant with customer account.
b. Create contract (without RE search)
A tenant rents space in your real estate portfolio, for example, office space. You negotiate all contract terms and conditions with your tenant and create a real estate contract in the SAP system. You assign all relevant business partners to the contract, maintain key contractual dates, object assignments, conditions, posting parameters, adjustment rules, and so on.
You also use lease-out contracts to handle internal usage of your rental objects by the departments in your organization. In this case, you assign a cost center, a project or an order to the contract, rather than a business partner with customer account.