Rents Going Mad

A tenant asked to break the lease the other day, and in that situation we are required to do all we can to rent the property quickly. So normally we just advertise the property at the existing rent, and sign the new tenant up to take over the lease until the earlier lease expires, and then raise the rent. That way the old tenant can't object if it takes a few weeks, or months, to find a new tenant. However our property management department read the market well and advertised the property for 10% more than the existing rent, and had five applications on the first day, leasing it immediately at that higher rent. So everyone was happy.