Managed church and hacienda (5)
I believe the answer is:
ranch
'hacienda' is the definition.
(I've seen this in another clue)
'managed church' is the wordplay.
'managed' becomes 'ran' (I've seen this in another clue).
'church' becomes 'ch' (common abbreviation).
'ran'+'ch'='RANCH'
'and' acts as a link.
(Other definitions for ranch that I've seen before include "where stock is held" , "North American stock farm" , "Spread" , "Stock farm in US, Aus." , "Agricultural establishment" .)