A property management agreement is an essential contract that defines the relationship between property owners and property managers. How to Write a Property Management Agreement?Before you fill out your property management agreement, write your state at the top of the form. A North Carolina property management agreement is created between a property manager and the owner of one or multiple properties in the state. A North Carolina property management agreement is a contract made between an owner of real property and a property manager or management company. A personal management agreement is a legal document that lays out the terms of an artist's or entertainer's professional relationship with their manager.