The Property Manager shall manage, operate and maintain the Project in a commercially reasonable manner for the tenants thereof. Owner's representative must receive invoices (14) days from the date the requested work was completed.This Agreement is made and entered into this ___ day of. A real estate management agreement is a legal contract that creates the relationship between the owner of the property and the manager of the property. A commercial property management agreement is a contract that spells out the relationship between the property owner and its manager. You will need forms for the various permits that are required. Keep in mind, filling out these worksheets and forms is NOT equivalent to applying for a permit.