Before you fill out your property management agreement, write your state at the top of the form. Step 1 – Write Effective Date. 1.A property management agreement is an essential contract that defines the relationship between property owners and property managers. From the Operating Accounts, Manager shall pay all expenses of operating the Properties, including but not limited to: Checking account supplies, salaries of. A thorough and complete contract outlining the expectations and responsibilities of the management firm makes everybody's job easier. From getting licensed and registered to gaining a local client base, there is a long list of things that you will need. BROKER ACCEPTANCE: Broker accepts the appointment and grant, and agrees to: A. Use due diligence in the performance of this Agreement. Owner agrees to pay all reasonable expenses in connection with those services. You can use one of our attorney-drafted templates to fill out, save, and download your operating agreement for free. Evictions are awful - perhaps the worst task property managers must perform.