Real Estate Property Managers (CPM) are certified real estate manager (CPM) is a state-licensed designation given to property management professionals by the International Society of Certified Public Accountants (ICC). Certified property management (CPM) or certified residential property manager is required by most states to hold an independent license, be a licensed broker, or be an accredited non-profit organization that provides certified property management (CPM), licensed residential property manager, and is accredited by NAR National Association of Real Estate Managers. Certified property management (CPM) is also referred to as certified commercial property management (CPM), licensed property management (LPM), certified land use property management (LPM), commercial property management (CMM), certified real property management (CRM), or licensed real property management (LPMS). The CPM designation, which indicate the person holding the license, and CRM, which are used for commercial purposes, both indicate that the individual has completed the licensing process and passed all state and national examinations. Most states require that licensed CPMs have completed at least four years of business experience, which is generally equivalent to the number of years the license holder has been engaged in the business of managing commercial properties.
Some people worry that CPM is not necessarily the best choice for a career as a property manager because the license may not be transferable after one stops working with the company. That’s actually not true; you could always reapply for and receive a new license upon your next job. CPM is not an industry-specific certification, which means that there are other nationally recognized certifications in the same industry. – for example, Commercial Property Management Association (CPMA) and Commercial Property Managers Association (CPMA) are nationally recognized accreditation organizations.
Another concern of some individuals who have questions about CPM is whether it’s necessary to have an MBA or any other additional training in order to get their license. Many experts recommend that, since these organizations are highly regulated and overseen by state boards, that you go through a comprehensive education course and training program before starting out on your career as a property manager. Even if a license isn’t required, it certainly helps.
Property management is a highly specialized field, and the training required is not always directly related to other areas of real estate. A comprehensive realtor or attorney will be able to provide more detailed information, and can help in providing some insight into whether or not CPM certification is the right choice for a job as a property manager. Those who are interested in a career in property management should ask for references from those who have been in the field for many years, or who are familiar with what the different types of courses and certifications will entail.
So how much should you pay for CPM? If you’re new to the business of managing real estate, the cost will vary, depending on the level of experience required, the time it takes to complete the program, and whether or not you want to take courses that have prerequisites. You can either purchase a book on the subject that will cover everything needed, or you can attend a school that offers online courses. You’ll be able to find an affordable option for both types of programs.
While CPM is not a requirement, it certainly is certainly a positive asset when considering a career as a property management professional. Many individuals don’t realize just how much education is required and end up going straight into the industry without having the required education or training. They also might not know that there are other national accreditation organizations such as CPMA that provide a more thorough education and training than the basic one-on-one classes offered through the majority of realtors and attorneys.
As with any type of certification, it’s important to check into all of your options, including whether you need a certificate from CPMA or if you have questions or concerns about the program you’re considering. before you decide on one particular organization or provider.