Which of the following describes a document that gives a real estate agent authority to act on behalf of a property owner?

A management agreement is the correct choice because it specifically outlines the relationship between a property owner and a real estate agent or property manager. This document grants the agent the authority to make decisions and take actions on behalf of the property owner, which may include tasks such as leasing the property, managing tenants, collecting rent, and handling maintenance issues.

In contrast, a power of attorney is a broader legal document that allows one person to act on behalf of another in various legal or financial matters but is not specifically tailored to property management situations. A lease agreement is a contract between the landlord and tenant that defines the terms of rental conditions, not the authority of an agent. A tenant contract, similarly, pertains to the relationship between the landlord and tenant rather than the contractual obligations between the property owner and the management entity. All these documents serve their respective purposes but do not convey the same kind of delegated authority that a management agreement does within the context of property management.