If you really want to know what top property management professionals like, just ask them. That’s what I did in a random, anecdotal sampling out in the field, online and on the phone.
What I wanted to discover is if they belonged to a professional association, which one, and why? The organization that rose to the top won’t surprise most of you.
The National Association of Residential Property Managers (NARPM®) “takes the cake” for a number of reasons. It’s an organization that knows “… first-hand the unique problems and challenges of managing single-family and small residential properties.”
NARPM has numerous levels of members including Support Specialists, individuals who act in the role of support in the office of a Professional Member, yet not in a capacity requiring licensure in that state. They even have an Affiliate Member designation which primarily consists of companies who serve or supply the residential property management profession. There’s a niche of networking opportunities!
NARPM has been around for a long time and has proven staying power. It was founded in October 1988 and provides a permanent trade organization for the residential property management industry.
Let me back up a little to explain why they’ve become the premier professional association of residential property managers, currently representing more than 4,000 members including real estate agents, brokers, managers and their employees.
The Association is based on and remains focused on very important and unique industry “facts”. First, that an increasingly large number of single-family dwellings across the U.S. are non-owner occupied. Secondly, that the average number of residential income units owned by investors is fewer than five, although that number is slowly increasing over the last 4 years. Third, there are a vast number of properties being managed either by owners or by managers who specialize in fewer units.
No matter the how small or large the properties being managed, property managers need an industry advocate and a powerful voice to represent them. That’s where NARPM shines. “As a group, managers of small residential properties oversee billions of dollars worth of assets, yet have had little or no voice in such important matters as tax law, legislation, legal document requirements, accounting practices, insurance, building codes, zoning and utilities,” their website states.
Before the inception of NARPM there wasn’t an organization like them to represent this underserved yet enormous group of property managers and their clients. Over the decades the loyalty between its member base and the Association has grown amazingly strong, and that’s just not my perception.
The members I spoke with proudly stated that NARPM promotes a high standard of business ethics, professionalism and fair housing practices. It also certifies its members in the standards and practices of the residential property management industry and promotes continuing professional education.
The Association sponsors conferences, national conventions and broker/owner retreats. Those who’ve attended attest to the positive experiences, members-helping-members, strategic relationships and first class support they’ve enjoyed. NARPM has online CE courses and many educational webinars. When it comes to professional designations and certifications the list is impressive: Residential Property Manager, Master Property Manager, and Certified Maintenance Coordinator are 3 of the 6 they proudly offer.
Speaking of professional pride, NARPM and its members have “raised the bar” and, as a result, are a highly sought-after group of property management pros. If you haven’t done so in awhile, carefully examine their outstanding online presence and learn for yourself why the National Association of Residential Property Managers is one of the top organizations for property managers.