Property Management
A Florida property management company wants to terminate a property management contract. The proper procedure is to:
ASimply stop managing the property with 24 hours' notice
BFollow the termination provisions in the management agreement, providing required notice and transferring all funds and records to the owner✓ Correct
CFile a termination notice with FREC
DGet a court order to terminate the contract
Explanation
Terminating a property management agreement must follow the contractual termination provisions — typically a specified notice period. The manager must also transition all security deposits, rent receipts, financial records, and property keys to the owner or their designee.
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