PROMOS management of condominiums
Professional management of condominiums in SAP®
The PROMOS solution allows you to map the condominium management of leased-out condominiums for investors with the entire process chain for property management for rental apartments/rental objects. All the system functions of real-estate management, including termination, renting, rent collection and the utility statement, are also available in the condominium management tool.
The utility statement can be created based on the COA statement (apportionable costs), but additional costs for the owners (such as property tax) can also be included in the utility statement. The condominium statement is sent to the owner periodically with a statement letter and may contain a settlement with COA assessment receivables that are due for payment.
From a financial perspective, the entire condominium management can be processed via a house bank in an independent company code entirely separated from the owner. It is also possible to offset the rental income against the assessments to be paid. Mapping of rent guarantee agreements is also a component of the PROMOS solution.
By means of freely selectable settlement intervals, for example monthly or quarterly, payments from rental surpluses can be made to the owner, taking into account a potential base amount. The PROMOS solution also provides an annual statement for tax purposes.
With PROMOS condominium management, you also benefit from transactions for settlement using a settlement ID, which provides options for correspondence printing and special reports. Appropriate correspondence suggestions are available. In addition, with individual customising, you can summarise the items for presentation in the correspondence.
The operation costs, in particular property tax, can be posted to settlement units or direct costs and the tenant’s statement can be used. The items are summarised via the profit centre, to which every condominium contract is assigned. The owner’s balance is posted automatically and paid out as part of the payment run.
Market advantages: As an additional service in property management, condominium management is also available with efficient system support. This brings market advantages for new customer acquisitions as well as for supporting existing customers of the COA management or buyers.
Process automation: The SAP® standard provides only limited options in the area of condominium management. With the PROMOS solution, the processes can be automated and implemented on the system side.
- Employees in COA
management as well as condominium managers
- SAP® RE FX
- SAP® COA management
- New general ledger