If it’s a tax office, they could be swamped or uncertain about their future.What’s your gut telling you.. are you leaning more toward a full rent adjustment, or focusing on retension for the long haul?

If they are adjusting the amount they can lend because the margins are too thin or telling you the deal metrics are not checking out it is likely due to the expected earnings not being sufficient. 

You have to adjust your expectations to match current reality, which includes higher mortgage rates, higher prices, more expensive taxes and insurance, more competition, etc.

This included some landmark deals including Rockefeller Center’s $3.5B loan and Miami Beach’s Fontainebleau $1.2B refinancingAlternative lenders filling traditional banking gaps with short-term solutions which has already begun a cycle of consolidation that will likely continue and accelerate in 2025The Office Sector Divide:CBD property values are down 50.7% from 2021 peaksClass A office properties seem to be in their own vacuum of prosperity with trophy properties commanding premium rents ($100+ PSF nationally, up to $247 in top markets) with strong occupancyHybrid work continues impacting older building valuations which have not faired as well, but this may begin to rebalance as more companies are instituting mandates to return to physical officesChallenges & Opportunities:$1 trillion in loans maturing by 2026Interest rates up from 3.5% (2021) to 6.74% (2024)Experts such as AEW’s Michael Acton and Blackstone’s Nadeem Meghji see the best entry point in the last 15–20 years and we agreeMarket Outlook:Current market conditions present unique opportunities, with inflation-adjusted prices at historic lows and yields at decade highs.

Is in there, but a great thing you can do now is get your "core 4" figured out - agent/lender/manager/contractor - obviously you can adjust this and do one of the pieces yourself (self-manage for example) or don't need a contractor if you do only turnkey etc but getting this nailed down early is key

I agree with Dominic, I would price it according to the market and CHA will make the adjustments on their end.

If there is not enough STRs in the market you are in then you have to adjust business practices.

Quote from @Daniel Araque: I'm writing this in hopes that maybe Tardus leadership adjusts this....

More than likely the asset will in a location where cap ex & management/operational costs are disproportionately higher and therefore your expense ratio will also have to be adjusted to a higher number.  

Bringing better comps to the appraiser’s attention is definitely worth a shot and can sometimes lead to adjustments.