Final answer:
Before creating a rental survey and management plan, Donna should ensure buy-in from stakeholders, collect local real estate data, and consider zoning regulations and other governmental restrictions relevant to property and business management.
Step-by-step explanation:
Before Donna develops a rental survey and creates a management plan for a newly acquired property, there are several preliminary steps that should be considered to ensure the project is successful and supported by all stakeholders. The first step involves buy-in, meaning Donna should ensure that all relevant parties including researchers, community stakeholders, and any others impacted by the project understand and support the project plan. Holding meetings or training sessions to discuss the process, examine survey questions, and collect valuable feedback is crucial. This helps to inform the project and make necessary adjustments, especially in environments where there may be high staff turnover.
To collect the data necessary for the rental survey, Donna should look at various sources, including local newspapers' real estate sections, to record sale prices and rental rates of properties within the area. This will help establish a benchmark for rental prices and identify trends in the local market. Furthermore, Donna should also investigate zoning regulations and other governmental restrictions, as these will significantly impact the management plan and what can legally be done with the property.
Finally, addressing guiding questions like weighing the costs and benefits of property ownership, understanding how financial institutions support business operations, and knowing the legal stipulations affecting businesses and properties will establish a solid foundation for the management plan. Regulations specific to sole proprietorships, partnerships, and corporations as well as zoning ordinances must also be reviewed and complied with.