Property Management
A Mississippi property management agreement is terminated by the owner before its stated expiration. The property manager may be entitled to:
ANothing, because the owner has the right to terminate at will
BCompensation for damages, including lost management fees for the remainder of the term, as specified in the agreement✓ Correct
COwnership of the property
DMREC intervention to reinstate the agreement
Explanation
Like any contract, early termination of a property management agreement may entitle the property manager to damages, including lost fees for the remainder of the term, unless the agreement allows termination at will or on short notice.
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