Earning a certified property management designation is important if you're serious about your property management career. Let us introduce you to the most popular and recognized institutes for property manager certification.
The CPM title is the most respected designation in the United States and Canada. It is the only property manager certification recognized by the National Association of Realtors, which is the largest trade association in North America with over 1 million members.
It is awarded by the Institute of Real Estate Management or IREM for short. Becoming a CPM is no walk in the park - Before you can even apply, you'll need to have at least 3 years of property management experience under your belt and secure 3 recommendation letters. And let's not forget all the courses, tests and interviews that you'll have to take.
For more details, Click here for our guide to how to become a Certified Property Manager.
This is a lower level credential that is also offered by IREM. Compared to their grueling CPM program, there are less entry requirements for an ARM candidate.
Major differences include less study courses to study and experience requirement of just 1 year (vs 3 years). The portfolio requirement is also lower, so you're not required to manage that many rental properties before you are allowed to apply for this course.
The NARPM National Association of Residential Property Managers is another well-established player in property management training and they offer the well-recognized RMP credential to budding property managers.
The steps to achieve a RMP is highly similar to that of the CPM program except that RMP has less requirements and more lenient guidelines. You will need to hold a real estate license, have at least 2 years of experience and manage a minimum of 25 rental units. You will also have to complete 18 hours of NARPM courses and submit reference letters.
The National Apartment Association NAA is a real estate association that specializes in residential properties with multiple units. If you are mainly dealing with residential multiplexes, then a CAM title will be beneficial to your career.
Compared to the other designations that we have listed here (CPM, ARM, RMP), the CAM certification is arguably the easiest to obtain. There is no experience, portfolio or professional requirements - All you have to do is to take the CAM courses, complete a online community analysis project and pass the online exam.
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As we all know, a certified property management title from IREM is the most desired property management certification in the U.S. and Canada. However becoming …