A North Carolina property management contract is a contract between an owner and a property manager or management company. This Agreement describes the duties, obligations and responsibilities of both parties. Typically, a property management contract has a term of one (1) year, but the parties may choose to renew the contract if the agreement works. A property management contract can help avoid confusion about the tasks and tasks that the property manager must perform for the owner. Requirements (§ 93A-2 and § 93A-1) – Property managers who rent or offer, sell or offer for sale or rent or offer real estate must be a licensed real estate agent. Discover a Property Manager – North Carolina Real Estate Commission. .