A Certified Property Manager (CPM) is a professional with expertise in managing various types of properties. They are certified by the Institute of Real Estate Management (IREM) and have a high code of ethics and commitment to continuing education. CPMs are skilled in financial analysis, wealth management, and have an average of 18 years of experience.
A Certified Property Manager (CPM) is a professional who has earned an internationally recognized designation from the Institute of Real Estate Management (IREM). IREM is an organization whose roots go back 75 years, starting in the United States as an affiliate of the National Association of Realtors. It is international in scope and is world renowned for its emphasis on professionalism, knowledge and ethics.
In the property management industry, a certified property manager is one who has the expertise and experience to manage approximately 91 different types of properties. He can manage any property from a single home to large multi-family developments to any type of commercial enterprise. Often, a CPM manages multiple properties simultaneously in residential and commercial settings.
The CPM is an expert at taking a property that is losing money, then devising and executing a plan to turn the property into a profitable business. Both his real-life experience and the education he receives to obtain his certification make a Certified Property Manager very useful for anyone looking to maximize an income producing property. A property manager who has achieved certification is an IREM member who is dedicated and maintains a high code of ethics and a commitment to continuing his education throughout his working life. A gap in either can mean loss of certification.
The widely recognized experience and high integrity of a certified property manager make him an excellent candidate for any person or group with an investment in income-producing properties. In fact, in real estate management, approximately 70% of those in senior management positions are certified real estate managers. In the United States, all federally funded housing units must be managed by a certified real estate manager.
A certified property manager is able to do more than just oversee the day-to-day running of an investment property. He is trained to plan for the future, whether an investment in a particular property has a short-term goal of a few years or a long-term goal of several years. His skill set includes social skills, legal knowledge, financial analysis, administration, wealth management and a solid understanding of economics.
When a property manager earns the title of Certified Property Manager, they have an average of 18 years of property management experience. Worldwide there are 8,000 to 9,000 people who have earned this designation. Shows career dedication and industry knowledge.
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