A Property Management Agreement is a "Bi-Lateral Contract' that, to be valid, must have a Begin date and an End date. This contract therefore, should have a clause that discusses any "Default" and the other party's "remedy" for such default. Remember, the "Contract" specifies the complete agreement. The cancellation of any valid contract will be grounds for litigation. Determining whether or not to seek a litiginous solution will, in the end, determine whether the Owner's cancellation will be successful--or not. Even if the Owner is contractually wrong to cancel, the financial loss and/or business embarrasment may prohibit making an issue of the cancellation.
Aug 18, 2013