What Are The Qualifications of a Good Property Manager?
There are specific qualifications needed to meet to be a Property Manager. Like any other job description, it is essential to understand all the requirements in this industry.
These professionals' task is to manage the operations dealing with property investments. To be a property manager, you must equip yourself properly to be trusted.
Here are the minimum qualifications to be a property manager: They need to be at least 18 or 21 years old depending on which state, must be a permanent and legal citizen/resident, must be a high school diploma holder, and for some states, they should pass their score for their real estate licensing exam.
Aside from the minimum qualifying requirements and essential skills a property manager needs, there are also different certifications and accreditations for property admins.
Certifications for Property Managers
National Apartment Leasing Professional (NALP)
NALP certification is the first step to starting property management. This accreditation teaches the basic skills to be an effective property manager. This certification includes experience as a leasing agent for six months, a provisional certificate until the six-month time requirement is met, and completing 7 NALP courses about the Market Survey for 25 credit hours. They have to complete this within 12 months of enrollment.
Certified Apartment Manager (CAM)
CAM is a training certification to gear onsite managers for direct tenant interactions. This certification includes a minimum of 1-year onsite property experience in the management role, a provisional certificate until the one-year time requirement is met, and completing all the courses for 40 credit hours. They are required to complete all this within one year of enrollment.
Certified Property Manager (CPM)
CPM certification is one of the most highly regarded positions for property managers. The certification includes a minimum of 3 years of employment in a real estate management position, must be a holder of a real estate license, must complete a minimum of 19 activities over 36 CPM function requirements, and completing all within one year from enrollment. They also need to know how to manage residential, commercial, and industrial portfolios.
Master Property Manager (MPM)
MPM is the top-level highest distinction in the property management industry. This certification should include at least five years of employment experience, all CPM certifications, and at least 500 units in their portfolio.
More than being knowledgeable in the real estate industry is required to become an investment manager. Having the proper arsenal is a must to have a gratifying career in this field.
The property managers we have at Caravel are guaranteed to assist significantly with any concerns you have with your real estate journey. Let us help you, take the burden off your shoulder, and have our experts deal with all there is to do for a successful deal.