Property Management
A Michigan commercial property manager is negotiating a lease renewal. The landlord wants to increase rent by 10%. The BEST course of action for the property manager is to:
AAutomatically accept the tenant's counter-proposal
BAnalyze the market, consult the owner, and negotiate within the authority granted by the management agreement✓ Correct
CRefer the negotiation to LARA
DRefuse any counter-offer to protect the owner's interests
Explanation
A property manager should conduct market analysis to support the rent increase position, consult the owner, and negotiate within the authority and guidelines established in the property management agreement.
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