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- Property management agreements are necessary when a property owner hires a property management company or manager to manage, operate, and control their rental unit. Now, generally, the property manager is a licensed real estate agent that has the legal capacity to collect rent, advertise available units, negotiate leases, hire labor for maintenance and repairs, and act on behalf of the property owner. In terms of fees, property managers generally receive a monthly fee or a percentage of the total monthly rent they collect. (upbeat music) - Welcome back, everybody. Im Santiago with DoorLoop. Now, before we get started, let me quickly remind you that Im not an attorney, so I cannot give you any legal advice or financial advice, and yes, I do work for DoorLoop. Okay? Now, that being said, lets get right into it. Property management agreement. A property management agreement is a legal document that defines the relationship between a property management company and a property owner. F
