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.