Top Certifications in Property Management to Advance Your Career
Professionals looking to advance in real estate will benefit greatly from obtaining property management certifications, not only will this prove your expertise but will demonstrate commitment and dedication towards learning new things. Here are a few top certifications designed to boost the careers of newcomers or those attempting to expand on what they already possess regarding property management skills or marketability.
The Institute of Real Estate Management (IREM)
IREM offers one of the industry’s most coveted designations – Certified Property Manager (CPM). Achieving CPM status indicates a high level of knowledge and experience in managing residential and commercial properties alike. Candidates for CPM status must pass several stringent courses as well as demonstrate experience managing multiple property types. As part of this rigorous certification program, they must also abide by stringent ethical codes.
IREM also offers Accredited Residential Manager (ARM) certification for professionals specializing in property management for residential units. This credential covers leasing, tenant relationships, maintenance issues, and risk mitigation – showing your skills at managing residential real estate while offering quality tenant services.
National Apartment Association (NAA)
Certified Apartment Manager (CAM), administered by the NAA, is an invaluable certification for professionals working in multifamily housing. Covering aspects like leasing strategies, resident retention strategies, and marketing CAM-certified professionals have established themselves as adept managers who maximize financial performance while simultaneously keeping residents.
Certified Manager of Community Associations (CMCA)
CMCA certification from the Community Associations Institute is ideal for professionals managing community associations like homeowners and condominium associations, offering governance, legal compliance, and financial management expertise as well as conflict resolution skills necessary for effective community association management that meet residents’ unique needs. CMCA-certified managers possess these essential capabilities.
Certified Commercial Investment Member (CCIM)
Designation offered by the CCIM Institute has long been seen as an esteemed hallmark of excellence for commercial real estate investing and brokerage. While not specifically trained for property management duties, CCIMs possess strong expertise in financial analysis, market research, investment strategies, negotiation tactics, and conflict resolution that makes them invaluable in any commercial property management capacity.
Building Owners and Managers Institute (BOMI)
BOMI International provides Real Property Administrator (RPA), an advanced certification designed for professionals managing commercial real estate. RPA certification covers budgeting and asset management as well as leasing and marketing. Their expertise has earned them an impeccable track record when managing properties to increase value while improving profits.
Property management certifications will enhance your career by increasing credibility and marketability. There are various certification options tailored specifically to community association management, and residential or commercial management. You could unlock additional opportunities by investing in professional growth by attaining relevant certificates.