Property Management
A New Mexico commercial property manager is negotiating a lease renewal with a long-term tenant. The manager's primary responsibility to the property owner is to:
AAccept whatever terms the tenant proposes to avoid vacancy
BNegotiate lease terms that maximize the owner's return while maintaining a strong landlord-tenant relationship✓ Correct
CAlways raise rent above market to maximize income
DRefer all negotiations to the owner without guidance
Explanation
The property manager's fiduciary duty to the owner requires negotiating lease renewals that serve the owner's financial interests — maximizing rent while maintaining occupancy and tenant relations — based on current market conditions and the manager's professional expertise.
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