The property management agreement defines what types of property management tasks the manager will carry out and what type of compensation they will receive. This Agreement shall be binding upon the parties, and each of their respective heirs, executors, administrators, successors and assigns.How to Write a Property Management Agreement? Manager shall execute all rental agreements as agent for the Owner. The Property Manager shall manage, operate and maintain the Project in a commercially reasonable manner for the tenants thereof. In a fullservice management agreement, the property manager assumes comprehensive responsibility for the property. The owner agrees to compensate the agent with a percentage of rent and fees collected as well as a monthly management fee. What is a property management agreement? Edit, sign, and share Property Manager Agreement - Maryland online. No need to install software, just go to DocHub, and sign up instantly and for free.