Final answer:
The business process area that encompasses the tracking of real property is known as Property Management.
Step-by-step explanation:
The business process area that encompasses the tracking of real property is known as Property Management. Property management involves the acquisition, operation, maintenance, and disposition of real property assets.
This includes activities such as tracking property ownership, maintaining property records, assessing property values, and managing leases and rental agreements.
Property management systems are used by businesses, organizations, and individuals to effectively manage their real estate holdings. These systems provide features like property inventory tracking, lease management, rent collection, maintenance scheduling, and financial reporting.
In summary, property management is the business process area that focuses on the tracking and management of real property assets.