If there is a conflict between the needs of the client and the needs of the leaseholders, what should you refer to for guidance?

In situations where there is a conflict between the needs of the client and the leaseholders, referring to best practice is essential. Best practice provides a framework that prioritizes ethical and effective management principles to navigate conflicts. It encompasses established standards and guidelines that have been recognized within the industry, ensuring that decisions are made fairly and equitably.

Best practice can offer insights on how to balance the competing demands of various stakeholders, ensuring that actions align not only with legal obligations but also with ethical considerations. By adhering to best practices, property managers can facilitate a resolution that maintains positive relationships between all parties involved, while also upholding the integrity of the contractual arrangements and the long-term viability of the property.

The other options focus on individual actions that may not fully address the complexity of the situation. Adjusting the terms of the lease or deciding who takes priority could lead to unilateral changes that may not consider the interests of both parties effectively. Providing advice, while valuable, does not necessarily provide a structured approach to resolving the conflict in a way that upholds the standards of the profession or minimizes potential disputes in the future. Thus, utilizing best practices is the most appropriate course of action in resolving such conflicts.