Property Management
A Mississippi property manager's management agreement is terminated by the property owner without cause and before the agreement's expiration date. The manager is typically entitled to:
ANothing since the owner has the right to terminate
BCompensation provided for in the management agreement for early termination, such as remaining management fees or a termination fee✓ Correct
CThe entire remaining contract's management fees
DOnly fees for work already completed
Explanation
A properly drafted management agreement includes provisions for early termination — what notice is required and what compensation (if any) the manager is entitled to if the owner terminates without cause. The agreement governs the manager's rights upon early termination, which is why well-drafted management agreements with appropriate termination provisions are important.
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