In today’s world there seems to be fewer adequately compensated jobs where the demand outstrips the supply. If you are a property manager, assistant property manager, or facilities maintenance coordinator you’re in one of the best professions at the right time. Both the commercial and residential property management businesses are growing so fast that it’s difficult to find experienced, qualified personnel to fill all the positions needed. That’s the bad news.
The good news is if you have the training, skills, and qualities of a really good property management tradesperson, you just need to decide where to begin!
If you’re in business for yourself or working for a property management company, the place to begin is with yourself. Now may be an auspicious time to reinvent you into “the best of the best.” Besides sound judgment and flexibility, a good manager, assistant manager, or maintenance coordinator also needs skills in creativity, accounting, administration, conflict resolution, leadership, and technological skills; and that’s just the tip of the iceberg.
If you’d like to really separate yourself from your average peers consider a professional training program where you’ll earn a specialized certification. Where can you find such outstanding programs?
You can begin your search with the Institute of Real Estate Management (IREM). IREM is an international community of real estate managers dedicated “…to ethical business practices, maximizing the value of investment real estate, and promoting superior management through education and information sharing.”
As an affiliate of the National Association of REALTORS, IREM strives to train professionals in the industry to uphold the ideals that “good management and professional ethics matters.” In speaking to members and perusing the organization’s website, I’ve learned that those who apply themselves to a higher standard of professionalism have a greater chance of outstanding success.
In addition, after 80 years of experience IREM has concluded, “That well-managed properties pay dividends in terms of value and in the quality of life for residents, tenants and customers.”
Their credentials, earned by meeting high standards of education, experience, and ethical business practices, include:
Certified Property Manager (CPM)
Accredited Residential Manager (ARM)
Accredited Commercial Manager (ACoM)
Accredited Management Organization (AMO)
As of 2016 IREM membership includes more than 19,000 individuals and 550 corporate members. This is just one example of how to move from good to best in this fast-growing worldwide industry. I also encourage you to see what classes your local community colleges and universities can offer.
If you’re a big thinker and a self-starter, consider hosting a professional round table discussion on professional growth and development in the property management professions. Become a local, knowledgeable, and respected authority. You’ll be in the center and on the cutting edge.
The enormous growth of the residential rental housing market has only just begun. As the saying goes, “It’s not only what you know but who you know that leads to success.” Know yourself and prove yourself to be a highly competent, skilled property management professional. Owners, investors, landlords, and residents will seek you out and reward you generously.