Understanding IREM’s Certified Property Manager Credential
What is a Certified Property Manager?
The highest of all credentials issued by IREM, the Certified Property Manager, or CPM, is someone who oversees a team that manages large portfolios of multi-family, office, retail, or industrial properties. Certified Property Managers are typically veteran commercial real estate managers with a deep understanding of all areas of property management. Along with the CPM designation, IREM also offers the Accredited Residential Manager (ARM) and Accredited Commercial Manager (ACoM) designations.
How do I earn a CPM Credential from IREM?
One of the most highly respected credentials in the property management industry, earning the CPM designation requires a commitment to mastering real estate management. A few of the tougher requirements, as outlined by IREM, include:
- 3 years of real estate management experience
- Meeting the required educational standards
- Passing the CPM Certification Exam
- Attending an ethics course and passing the ethics exam
- 3 letters of recommendation submitted at time of candidacy
- 1 years of CPM candidate membership in IREM
While these are the major requirements, IREM outlines all of the requirements for earning the CPM designation on its website. If the CPM requirements seem beyond reach right now, be sure to checkout the less rigorous ARM and ACoM designation requirements.
Why become a Certified Property Manager?
Did you know that 70% of people who hold a CPM designation as a Certified Property Manager also hold the top property management position in their company? In fact, earning a CPM designation is one of the most effective ways to advance in the property management industry. While IREM handles the testing and credentialing process, the CPM designation is also recognized by the National Association of Realtors.
Earning the CPM designation is no easy task, but it comes with its share of rewards as well. The credential is widely known and respected in the property management industry and many employers specifically seek out CPM’s for upper level property management positions. Beyond the professional recognition, CPM candidates and CPM’s are well compensated. The average CPM candidate earns over $92,000 annually and that number jumps to over $135,000 after earning the CPM designation.
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