When it comes to having your property taken care of by professionals, you don’t want to leave anything to chance. You should really be searching for a property management firm that has both the Certified Property Manager (CPM®) and Accredited Residential Manager (ARM®) certifications. These two titles can prove to be a huge asset because they prove that your professionals have the experience and education necessary to take care of your investment property.
What do these two titles really mean for you and your property? This is what you can obtain by hiring a CPM® and an ARM® property management company.
The procedure for becoming a Certified Property Manager is the lengthier of the two certifications. You must take a series of 400-level and 600-level courses in order to graduate with this distinct honor. All of the seven courses focus on the basic knowledge necessary for managing properties, handling financial decisions, and increasing the understanding of property management principles with real-life scenarios. This leaves your real estate professional with a much more thorough understanding of how to handle your investment property well.
On the other hand, it is relatively simple to become an Accredited Residential Manager. You must take either a combination of four courses or the lengthier Managing Residential Properties course.
All of this education is offered by the Institute of Real Estate Management (IREM). They advise that the education should continue past this bare minimum point, encouraging participants to enroll in more graduate level courses as well. Many of these more advanced options focus on managing a firm or more advanced management tactics. Homeowners should feel good about the amount of education that goes into receiving a CPM® or ARM® status because that knowledge is going to go to work for your property.
Not just anyone can claim the CPM® or ARM® status with the Institute of Real Estate Management. In order to apply for the Certified Property Manager status, an individual must have at least three years of experience as outlined by IREM. Their requirements include various portfolio specifications for residential, commercial or industrial spaces, as well as the specific job functions that were expected of you.
It requires slightly less to become an ARM® with just one year of experience necessary. The portfolio requirements are also significantly smaller and so are the responsibilities requirements.
Both certifications require the professionals to complete an ethics course prior to agreeing to uphold the IREM Code of Professional Ethics. This can be a major asset to homeowners who can rest assured that their profession is being held to a moral and ethical standard by a larger organization.
When it comes to choosing the right property managers, you need to make sure that you are selecting professionals with the Certified Property Manager and Accredited Residential Manager status. This can give you peace of mind and plenty of benefits that come from having experience, education, and a commitment to ethics. Pyramis Company can offer all of this, so give us a call today to talk about your property management needs!