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What Is a ‘Certified’ Property Manager?
The challenges and the increased competition in the real estate market have made it harder for many to succeed without experience and credibility. Having a legitimate certification can demonstrate your expertise and integrity to potential landlords, investors, and employees.
A certified property manager is a real estate professional designation awarded by the Institute of Real Estate Management and recognized by the National Association Realtors.
Being a property manager, your first responsibility is to the law, then property owner, followed by your responsibility to the tenant. Property management law varies from state to state, but there are certain licenses and certificates that can help you build credibility and gain recognition in the industry.
Top 5 Property Manager Certifications & Licenses
Government Issued Real Estate License & Realtor® License
Many states want property management companies to hold a real estate broker license to operate their business, especially if it includes rent collection, property listing and more. As a property manager, you may need to have a real estate salesperson license, but typically, you need to work under the supervision of a licensed real estate broker.
Some states such as Oregon, South Carolina, etc. allow a property manager to work with a license in property management instead of a real estate broker license.
Certified Manager of Community Associations (CMCA)
CMCA is awarded by the National Board of Certification for Community Association Managers (NBC-CAM) and created by the Community Associations Institute (CAI). NBC-CAM follows guidelines of the National Commissions for certifying agencies guidelines, and plays a vital role in the careers of its members. The certifications keep members active and up to date on the latest property management laws applicable to their states. However, members are required to fulfill continuing education requirements to maintain the certifications.
Residential Management Professional (RMP)
Residential Management of professional (RMP) is awarded by the National Association of Residential Property Managers (NARPM). It is one of the most recognized credentials for property managers and offers designations to certify ethical and professional standards of conduct for property managers. Some other NARPM certifications include Master Property Manager (MPM), Certified Support Specialist (CSS) and Certified residential Management Company (CRMC).
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