Property Management
A Mississippi commercial property manager receives a rent check that is $500 short of the required amount. The lease provides for late fees and allows the landlord to reject partial payments. The manager should:
AApply the partial payment and forgive the $500
BReturn the partial check uncashed with written notice of the full amount owed, if the lease allows rejection, to preserve the landlord's rights under the lease✓ Correct
CAccept the partial payment and collect the rest later
DImmediately begin eviction proceedings without notice
Explanation
If the lease provides for rejection of partial payments, accepting a partial payment may be deemed a waiver of the full amount or the right to assert default. Per the lease terms and manager's instructions, returning the partial payment uncashed with written demand for the full amount preserves the landlord's contractual rights.
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