After the initial term of this Agreement, the basic compensation to be paid shall be the amount established in the approved Management Agreement Addendum (MSHDA. Before you fill out your property management agreement, write your state at the top of the form.Step 1 – Write Effective Date. 1. Next, input the address of the premises to be managed. A Michigan property management agreement is used to hire a property manager and define how they'll carry out their job. Every Michigan LLC should have an Operating Agreement, but getting one doesn't have to be expensive. A Michigan Operating Agreement creates the policies and procedures for your LLC. Our free, attorney-drafted templates can get you started. We have created three distinct templates for operating agreements depending on your LLC's management structure. An Operating Agreement in Michigan outlines the ownership and operating procedures of your LLC.