Does the neighborhood Committee manage the affairs between the property and the owners?

Can be managed. Neighborhood committees are the government's grass-roots residents' service agencies. Neighborhood committees are subordinate to sub-district offices. Its main function is to collect and convey the living needs of local residents, mediate neighborhood disputes among residents and provide living services for some residents.

Legal basis:

Organic Law of People's Republic of China (PRC) Urban Residents Committee

Article 1 This Law is formulated in accordance with the Constitution for the purpose of strengthening the construction of urban residents' committees, allowing urban residents to manage their own affairs according to law, promoting the development of socialist democracy at the grassroots level in cities, and promoting the construction of socialist material civilization and spiritual civilization in cities.

Article 2 A residents' committee is a grass-roots mass self-governing organization for self-management, self-education and self-service of residents. The people's governments of cities not divided into districts or municipal districts or their agencies shall give guidance, support and help to the work of residents' committees. Residents' committees shall assist the people's governments of cities not divided into districts or municipal districts or their agencies in their work.