There are a variety of property management certifications available. Becoming certified allows property managers to build on their experience and offers both tenants and potential employers the knowledge that the person in charge has both the knowledge and experience necessary to be successful.
While there many certifications to choose from, the majority of them are offered by 4 different organizations: Institute for Real Estate Management (IREM), National Association of Residential Property Managers (NARPM), National Property Management Association (NPMA), and National Center for Housing Management (NCHM).
So, if you’re ready to head back to school, here are some of the certificate programs available:
Certified Occupancy Specialist (COS)
Offered from NCHM, this certificate is designed for those working with HUD properties and covers topics such as how to determine HUD eligibility, Fair Housing, how to spot fraud, regulatory reporting procedures, annual and interim recertification, and determining allowances and adjustments. The typical course is 3 days, with the exam taking place on the final day. Contact NCHM at www.nchm.org for more information.
Certified Property Manager (CPM)
Offered from IREM, property managers will need to take 7 courses which include Marketing and Leasing, Investment Real Estate, and Financial Tools. Students are also required to prepare a sample management plan for a designated property, and have a specified number of years of experience as a property manager to be eligible for the CPM certification. Accredited Property Manager Certification (ARM) is also available from IREM. For more information, visit IREM’s website at www.irem.org.
Master Property Manager (MPM)
Offered from NARPM, the MPM certification is available to those that have been a licensed real estate agent for at least 5 years. Applicants must also complete 24 hours of required course work. Also available from NARPM is the Residential Management Professional (RMP), which requires applicants to be licensed real estate agents for at least 2 years and complete 18 hours of required course work. For additional information, contact NARPM at www.narpm.org.
Certified Professional Property Specialist (CPPS)
Offered from NPMA, this entry level certification is for those new to the property management industry. Those obtaining the CPPS certificate also become eligible for other certificates such as Certified Professional Property Administrator (CPPA), as well as Certified Professional Property Manager (CPPM). All work experience must be documented prior to testing, with applicants required to have experience in designated areas such as Acquisition, Records, Property Accounting, Risk Management, Audits, Contracts & Agreements, and more. For further information, contact NPMA at www.npma.org.