The agreement defines the manager's obligations to the owner along with the period in which their real estate powers will be effective. A Florida property management agreement is a contract between a real estate owner and a thirdparty manager hired to oversee their property.We've got all the information you need to create a contract that complies with state law and covers all the Essential Elements of property management. A property management agreement is an essential contract that defines the relationship between property owners and property managers. Before you fill out your property management agreement, write your state at the top of the form. Step 1 – Write Effective Date. 1. The property management contract should begin with a clear identification of the parties involved. Instructions for a property manager and property owner.