To stand out in the bustling world of real estate, you need a property management certification. The qualifications enrich your knowledge and expertise, making you a more attractive candidate. Get the competitive edge you need by adding certifications to your skill set.
Being a professional property manager requires state certification, and depending on your state’s requirements, you may also have to get your real estate broker’s license. While completing your state’s requirements is enough to get your foot in the door, it’s not enough to stay competitive. Continuing your education improves your skills, increases earning potential, and helps you avoid legal issues that may ruin your reputation. Here is a quick guide to 15 property management certifications you should consider.
1. Certified Property Manager (CPM) from the Institute of Real Estate Management (IREM)
As one of the most common and widely recognized certifications in the property management industry, many markets consider it the gold standard. To obtain a CPM certification, you must:
- Have at least three years of qualifying real estate management experience.
- Submit a completed application.
- Choose one of the four education tracks.
- Pass a management plan exam.
- Pass the CPM certification exam.
- Attend an ethics course and pass an exam.
- Pay national and chapter dues (and remain current).
- Either hold a real estate agent license or verify that you’re not required to have one.
- Attend an interview and be approved by your local IREM chapter.
The certification has eight courses, which average 12 to 18 months. To complete the program, applicants must show proficiency in marketing, finance, ethics, and other areas. It’s an excellent option for people seeking long-term property management employment.
If you have a college degree in real estate or property management, already hold particular property manager professional certifications, or have 20 years of experience, you can waive seven of the eight certification courses.
2. Accredited Residential Manager (ARM) from IREM
This certification is easier to get than the CPM designation and can be used as a stepping stone to get there. To earn your ARM certification, you must:
- Have one year of experience in residential property management.
Complete two certification courses. - Pass an exam.
- Submit a completed application and pay a fee.
3. Certified Apartment Manager (CAM) from the National Apartment Association (NAA)
CAM may be an excellent certification if your residential property management career focuses on multi-family communities. To receive your CAM credential, you must:
- Have at least one year of on-site property management experience.
- Complete all CAM property management coursework (40 hours).
- Pass the CAM exam within one year of declaring candidacy.
4. Residential Management Professional (RMP) from the National Association of Residential Property Managers (NARPM)
RMP is one of many property management certifications from the NARPM. To earn the RMP certification, you must:
- Manage 100 units or more over two years.
- Complete 18 hours of NARPM property management courses.
- Submit a completed application and pay a fee.
5. Master Property Manager (MPM) from the National Association of Residential Property Managers (NARPM)
The MPM certification is the highest designation the NARPM offers. You must first earn your RMP designation before applying for this one. Other requirements include:
- Manage 500+ units over five years
- Complete 24 hours of coursework
- Submit professional letters of recommendation
- Submit a completed application and pay a fee
Once you’ve done this, you can set up your property management company to become a Certified Property Management Company (CRMC).
6. Accredited Community Manager (ACM) from the Manufactured Housing Institute (MHI)
An ACM certification is geared toward industry professionals and property owners focusing on mobile homes. The program covers a range of mobile home community management subjects, from resident policies and management to marketing communities, financial management, and more. The program has two courses, available online and in person. The first course is 3.5 days, and the second is 1.5 days, so everything finishes in five days.
You do not have to have any industry experience to take the first course in the certification program, but you must have two years of experience to take the second course.
7. Real Property Administrator (RPA) from Building Owners and Managers Institute (BOMI) International
The RPA is an ideal certification for commercial and institutional property managers, such as schools, hospitals, and office buildings. The BOMI allows people to pursue the RPA credential at any point in their career but will not award the certificate until applicants have at least three years of experience in the property management business. If you have prior education in the property management industry, you may receive competency credits.
You must take the following courses:
- Budgeting and Accounting
- Environmental Health and Safety Issues
- Ethics is Good Business
- Law and Risk Management
- Real Estate Investment and Finance
- Design, Operation, and Maintenance of Building Systems Parts I and II
You must also have one elective course out of the following:
- Asset Management
- Leasing and Marketing for Property Managers
- Managing the Organization
8. Professional Community Association Manager (PCAM) from Community Associations Institute (CAI)
PCAM is a great way to advance your career for those managing homeowners’ associations and condominium communities. To earn this certification, you must have at least five years of experience in the industry. You must also:
- Complete all six M-200 level courses, with the last course completed within the previous five years.
- Successfully pass the exam.
Once done, you must earn 125 points on the PCAM application, complete it, and submit the application fee.
9. Certified Manager of Commercial Properties (CMCP) from Commerce Real Estate Certification Institution (CRECI)
The CRECI is an independent certification institute created by the Building Owners and Managers Association (BOMA) and BOMI.
To be eligible for the CMCP (property manager certification), you must meet at least one of the following:
- Four-year degree with one year of property management experience
- Two-year degree with two years of property management experience
- No degree with four years of property management
- 30 hours of verifiable education in commercial property management
10. Certified Commercial Investment Member (CCIM) from CCIM Institute
The CCIM is geared toward people who specialize in commercial property management; this property management certification requires at least two years of experience in commercial real estate.
You must also have at least one of the following:
Three qualifying activities with a minimum $30 million valuation - Ten qualifying real estate transactions with a minimum $10 million valuation
- 20 qualifying activities with no minimum valuation
You must also take and pass a four-course curriculum, including
- an online ethics course
- negotiation training
- two elective credits
After completing the required education courses, you’ll submit your portfolio for review. After that, you must pass a comprehensive exam. Portfolios are only reviewed twice a year, typically about two months before the certification exam date.
11. Accredited Commercial Manager (ACoM) from IREM
The ACoM is an ideal certification for managers of small commercial properties. To qualify, you’ll need:
- 12 or more months of qualifying commercial real estate experience by the time the application is submitted (doesn’t need to be sequential).
- To take two ACoM certification courses and pass the exam.
To apply and pay the fee.
You must perform at least 14 of 29 commercial real estate management functions on a real estate portfolio that meets minimum size requirements.
12. Certified Manager of Community Associations (CMCA) from the Community Association Managers International Certification Board (CAMICB)
The CMCA is the only international certification program for homeowners’ associations, condo associations, and co-op managers. To earn this, you can:
- Complete and pass a prerequisite course on community association management.
- Demonstrate that you have at least five years of experience as a community association manager to waive the course requirement – a failed first text means you have to take the course before you can try again.
- Prove that you hold an active Arizona CAAM, California CCAM, Florida CAM, Illinois CAM, or Nevada CAM.
From there, you’ll complete and apply for the CMCA exam, and once you pass, you’ll hold the credential.
13. Association Management Specialist (AMS) from the CAI
The same organization that offers the PCAM also provides the AMS certification. It is easier to achieve since it only requires two years of experience.
You must also complete at least two M-200 level courses, pass the exam, complete an application, and pay a fee.
14. Certified Community Association Manager (CCAM) from the California Association of Community Managers (CACM)
The CCAM certification ensures you know California-specific laws, ethical guidelines, and best practices. To get this certification, you must:
- Become a member of the CACM.
- Complete and pass the required courses.
- Email your completed application.
- Have three references fill out and email their recommendation form.
You can start the certification process without experience, but you must complete three required CCAM certification courses and have at least six months of community association management before applying.
15. Certified Self-Storage Manager (CSSM) from Self Storage Association
Though it may surprise you, self-storage operators have a property management certification. You do not have to have any industry experience to qualify.
To earn your CSSM certification, you must complete a 15-session property management course. Every session will have a quiz, which you must pass with a score of 70% or higher. There will be a cumulative final test at the end of the course, which also needs a score of 70% or higher to pass.
Once you become a CSSM-licensed facility manager, you must take some continuing education credits every two years as part of the renewal process.
Choosing the Right Property Management Certification Program for You
Each of these certifications has unique advantages and will contribute to your professional development differently. They validate your expertise in property management and demonstrate your commitment to the profession.
Property management certificates are invaluable tools for advancing your career. They equip you with the skills, knowledge, and credibility to stand out in a competitive market. If you’re a property manager looking to partner with a vendor to help ensure your tenants have adequate hot water service, contact us today!
