How to Write a Property Management Agreement? A Sales Agent or Broker license is required for any individual who, for another and for valuable consideration, engages in property management.A Utah property management agreement defines the terms and conditions for a property manager to oversee residential property on behalf of its owner. A Utah property management agreement is created between a property manager and the owner of one or multiple properties in the state. Property management is expressly considered a real estate activity under existing Utah real estate licensing laws, and requires a broker's license. Download a free Utah LLC Operating Agreement. List LLC Members, how profits are split, and how your LLC is taxed. Honest - Professional - Reliable. The LLC Manager(s) also run the business and daytoday operations. The Members can't legally bind the LLC in contracts and agreements.