In order to be certified as a CPM, you must first complete a four-year bachelor’s degree in business administration, real estate, public administration, or related field. You must then pass the NCARB real estate exam.
There are two types of CPMs – the Specialty property managers and the General property managers. Each has different duties and responsibilities, depending on what type of property you are managing. Specialty property managers generally manage residential properties while General property managers are responsible for all types of real estate property.
Specialty property managers handle projects and tasks related to residential, commercial, industrial, and multifamily properties. These are usually the responsibility of a single manager and oversee various aspects of the property. General property managers manage properties that consist of multiple properties. Their job is to oversee the entire property and ensure that everything runs smoothly.
In addition to having specific duties, many Certified Property Managers also perform oversight of various projects that involve their property, like renovation, construction, or remodeling. Some even handle the finances of a property, such as selling and renting, as well as handling legal issues.
The NCARB exam is an extensive examination designed to measure knowledge, skills, and abilities in managing, organizing, and controlling real estate property. It includes real estate contract law and regulations, financial management, sales, and marketing. {and a series of tests on accounting, real estate law, and property taxes. The test is also structured to test not only the knowledge of each area, but the applicant’s ability to apply it in the real world. Each test is different, and not all will be taken at the same time.
A property manager’s job may include scheduling appointments, maintaining the property and making sure that everything is in good working order, hiring new employees, and training them, dealing with customers and clients, budgeting, keeping records of purchases and expenses, and keeping track of payments, and taxes, and other real estate documents, and tax information. In addition to the duties of the CPM, these professionals are responsible for many other duties, depending on the type of property they manage.
In order to be certified, you must have completed all of the necessary requirements for your state before applying for certification. The Institute of REALTORS (IRM) maintains a website where you can download an application and submit it online. You must also contact your local REALTOR to be sure that your state is in good standing before you begin your career as a certified property manager.
There are several reasons why someone might want to obtain property management certification. For example, an agent who works with multiple properties could get involved with real estate law and regulations and be responsible for managing or supervising them on behalf of his or her client. A CPM who manages properties for a large, multi-family rental management firm may oversee all of the tenants’ records, payroll, and other responsibilities related to their properties, and manage finances.
If you are interested in becoming a certified property manager, the best way to become certified is through a course provided by a real estate business school or a training center. These training centers will offer classes in the basic requirements for becoming a CPM, as well as the skills you need to become one.
Property management certification is not only important for the job, but also for your future. This professional certification can open more doors and give you a leg up on the competition when it comes to hiring for jobs, housing, and other professional endeavors.
To become a certified property manager, find a training program in your area or in an online school that offers property management certification, and complete the course. Once you become certified, you can start looking for a job as soon as possible!