How to Get Property Manager Certification
Certified property managers tend to get better jobs and a higher salary. Those seeking certification in property management can get certified through the Institute of Real Estate Management. Requirements include management education and an exam.
All applicants for certification must first obtain 3 years of experience in property management. Only certain kinds of management activities count toward this requirement. The requirements are complicated, so it is best to refer to IREM's Certified Property Manager "Experience Requirements" page to see what qualifies.
Briefly, you must manage a minimum number of units or size of commercial or industrial real estate and perform at least 19 of 36 overall functions enumerated by IREM. There is a link in the Resources section at the end of this article to see those manager requirements.
All applicants must also pass educational or similar requirements. The first option is to take 7 IREM property manager courses. The second option is to already be certified with at least one designation among the following: CCIM, CSM, PCAM, or RPA. The third option is to have a bachelor's or graduate degree in property or real estate management.
There are also some property-manager certification exams. The first is the CPM certification exam. The second is an ethics exam. You must also take the IREM Ethics for the Real Estate Manager course before taking the test.
You must also either do a management plan on an actual real estate property or pass a management-plan skills test.
There are other miscellaneous requirements, such as having any required state real estate license and membership with the National Association of Realtors. To see a list of all requirements, view the Certified Property Manager page linked to in the Resources below.
As of September 2011, it costs $210 to apply for property manager certification. However, you must also be an IREM member, and just the national dues for that is $490 per year. Chapter dues also apply. You will have to be a candidate for at least a year to become a Certified Property Manager. Becoming a candidate only requires an application fee of $160.
IREM: Ethics Course
IREM: Certified Property Manager
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