Dilemma: Right vs. Right
Market or 'Friend' Rental Rate?
Samuel approves leases for Bayside Properties, a real-estate company. One day, Elaine, a real-estate appraiser, approached Samuel to inquire about leasing office space in one of the company’s buildings. Elaine had previously rented space in a Bayside’s building, but that building had been sold and Elaine had to find new space at the end of her lease. Samuel would like to rent to Elaine--she is not only an ideal tenant with an excellent credit record with the company, but Samuel knows that Elaine is in the position to speak favorably to others about the company’s good service and careful maintenance of their buildings. In addition, Elaine is a close family friend.
Samuel has the perfect space for Elaine coming available just when she needs it. The problem is, rental rates have increased quite a bit since Elaine signed her last lease with Bayside, and it is more than she wants to pay. Elaine asks Samuel for a break on the rent. What should he do?
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