As an entrepreneur, you know that in order to be successful, you need to be constantly learning and growing. And one of the best ways to do that is by getting property management certifications. Here is a list of the many property management certifications you should get to make your business more successful.
Why Should You Get Property Management Certifications?
Before listing off property management certifications, it’s important to first understand why property management certifications are so important. By having property management certifications, you’ll be able to:
– Learn new property management skills
– Stay up-to-date on the latest property management trends
– Meet other like-minded property managers
– Boost your credibility and professionalism
Furthermore, some certifications may be required in order to work in certain property management positions. For example, the Certified Property Manager (CPM) certification is required for many senior property management positions.
Certifications That Will Make Your Business More Successful
There are many different property management certifications available, but not all of them are created equal. Here are many property management certifications that can make your business more successful.
Certified Property Manager (CPM)
The CPM certification is the highest property management certification you can get. It’s administered by the Institute of Real Estate Management (IREM) and is only awarded to those with significant experience in property management. In order to qualify for the CPM certification, you must have at least five years of experience working in property management and pass a comprehensive exam. Note that it typically costs around $1,200 to take the CPM exam.
Residential Management Professional (RMP)
The RMP certification is administered by the National Association of Residential Property Managers. It’s geared towards property managers who work in residential property management. In order to qualify for the RMP certification, you must have at least two years of experience working in residential property management and pass a written exam. The RMP application costs $350 and additional costs apply for certification and the exam.
Master Property Manager (MPM)
The MPM certification is administered by the National Association of Residential Property Managers (NARPM). It’s geared towards property managers who work in both commercial and residential property management. In order to qualify for the MPM certification, you must have at least five years of experience working in property management and pass a written exam. The MPM certification application costs $250 with additional costs for membership and the exam.
Accredited Residential Manager (ARM)
The ARM certification is also administered by IREM. It’s geared towards “early career” property managers who work in small residential property management firms. In order to qualify for the ARM certification, you must take two courses and pass an open-book exam. The ARM certification costs $1,100.
Certified Apartment Manager (CAM)
The CAM certification is administered by the National Apartment Association (NAA). It’s geared towards property managers who work in apartment buildings. In order to qualify for the CAM certification, you must pass eight course modules and take a written exam. The CAM certification costs $1,125.
Certified Residential Manager (CRM)
The CRM certification is administered by the National Association of Residential Property Managers (NARPM). It’s geared toward property managers who have extensive experience and work with a partner MPM from NARPM. In order to qualify for the CRM certification, you must have at least 5-8 years of experience working in residential property management and pass a written exam. The CRM certification costs $350, plus fees for auditor and on-site inspection.
Certified Residential Management Company (CRMC)
The CRMC certification is administered by the National Association of Residential Property Managers (NARPM). It is the “gold standard” of property management certification. In order to qualify for the CRMC certification, you must have 500 credits of management experience, pass an exam and have your work audited by an independent company. Total costs are $1,150 and the process takes three years to complete.
Certified Apartment Association Manager (CAAM)
The CAAM certification is administered by the American Apartment Owners Association (AAOA). It’s geared towards property managers who work in apartment buildings. In order to qualify for the CAAM certification, you must have at least two years of experience working in apartment property management and pass a written exam. The CAAM certification typically costs around $500.
Certified Property Management Representative (CPR)
The CPR certification is administered by the National Association of Residential Property Managers (NARPM). It’s geared towards property managers who work in small residential property management firms. In order to qualify for the CPR certification, you must have at least two years of experience working in residential property management and pass a written exam. The CPR certification typically costs around $500.
Certified Facility Manager (CFM)
The CFM certification is administered by the International Facility Management Association (IFMA). It’s geared towards property managers who work in both commercial and industrial property management. In order to qualify for the CFM certification, you must have at least five years of experience working in property management and pass a written exam. The CFM certification typically costs around $700.
Conclusion
As you can see, there are many property management certifications that can help make your business more successful. These certifications show that you have the knowledge and experience to effectively manage a property. They can also help you to stand out from the competition and attract more clients. If you’re serious about making your property management business more successful, then consider getting one or more of these property management certifications.