Property management is not a formal university educational role or any technical field. Owning a property makes you a property manager and a landlord, though they may not be one and the same person at times.
What Does The Role Entail?
A property manager’s first accountability is to the law, second to the landlord, and third to the tenant. The law varies from location to location and property managers ought to be well-versed with local ordinances to ensure success in their commerce.
To cement the credibility of the property managers, there are different certifications and licenses which enable them to make their position in the market more recognizable.
A certification is an invaluable asset to your career as a property manager. They help you in sustaining the faith of your clients. Many localities require the manager to obtain a property management license to conduct business in a particular district. These licenses can be acquired by paying a predetermined fee and passing a test.
Most of the licenses are available through online guidance and instructions. There are a number of sites which provide property management training online.
You may have to provide enough documentation proof to validate your professional experience in the area. Thus, to become a property manager, it is advisable to acquire one of these certifications, particularly a real estate license and CMCA.
Few of the top commercial and residential certifications and licenses for property managers are:
- CMCA (Certified Manager of Community Associations)
This certificate is created by Community Associations Institute (CAI). This is one of the most useful and significant certificates that a property manager should possess.
The managers are made members of the organization which bestows this certificate. They are constantly updated about the various property related laws and the amendments therein. It helps them to be well-versed and get their front foot in the market.
- CPM (Certified Property Manager)
To qualify for this certificate is not a cakewalk. It is one of the highly respected and credible certifications, and is awarded by the Institute of Real Estate Management (IREM).
Other certificates which IREM provides are ARM (Accredited Residential Manager), AMO (Accredited Management Organization), and ACoM (Accredited Commercial Manager)
- CAM (Certified Apartment Manager)
This certificate is awarded by the National Apartment Association (NAA). It majorly deals with apartment rentals. The programs of CAM are available online. This certification requires the candidate to undergo a series of courses, complete a project and pass an examination.