The U.S. property management market has an estimated worth of 115.4 billion dollars. Property managers across the US have an opportunity to succeed in the high-growth industry. While property managers have already met requirements from their state for licensure, additional education, certifications, and designations can help them get ahead.
What is a Property Management Certification?
Property management certifications are additional educational elements that can be added to the resume of a property manager.
Who Certifies Property Managers?
Several property management organizations offer certificates. It’s a good idea to find which organization offers certifications in your area of property management. You should also do some research to determine which areas you would like to gain expertise.
Having the right property management certification can open the door to career advancement.
Do I Need a Property Management Certification?
All states have different requirements for property managers. There are no requirements for property managers to receive additional certifications outside of state licensing requirements. However, a property management certification can show potential clients an area of expertise and a dedication to succeed and go above and beyond in the industry.
Property Management Organizations
There are a variety of property management organizations that property managers can join nationally, internationally, and locally. These organizations offer opportunities for property managers to network, gain additional education (including certifications), and advance their careers.
The most popular property management organizations include:
- National Association of Realtors (NAR) – America’s largest trade association with over 1.5 million members in the real estate industry. The NAR has 1,200 local associations and 54 state and territory associations helping their members get connected and succeed together.
- Institute of Real Estate Management (IREM) – A home for property and asset managers to learn day-to-day and one-of-a-kind problem-solving skills. With over 20,000 members in commercial and residential management, IREM is a leading organization for learning, certifications, and networking opportunities.
- Building Owners & Managers Association (BOMA International) – The leading trade association for all property professionals of commercial buildings. BOMA International offers several custom training programs for property management companies, certifications, and professional development opportunities.
- National Apartment Association (NAA) – An organization for property managers of apartment units that offers a variety of resources for advocacy, education, and collaboration. NAA also offers a legal assistance program to assist members with a variety of legal matters.
- National Association of Residential Property Managers (NARPM) – An association of real estate professionals who manage single-family and small residential properties. The NARPM focuses on providing resources that help meet their high standard of business ethics, professionalism, and fair housing practice.
- National Property Management Association (NPMA) – This association focuses on exchanging knowledge to create better professionals and more valuable employees. The NPMA offers varying levels of certification to validate property managers’ expertise and enhance their professionalism.
- National Affordable Housing Management Association (NAHMA) – Ideal for multi-family property managers or landlords who rent in the affordable housing sector, NAHMA offers a plethora of networking and educational opportunities. They also provide a job board so members can search for new talent and/or apply for positions.
- Onsite Property Management Association (OPMA) – An organization for those seeking to offer superior guest and homeowner experience for condominium hotels. OPMA offers leadership opportunities, events, and sales training.
- Vacation Rental Management Association (VRMA) – Provides best-in-class education, professional development, and networking for vacation rental industry professionals. VRMA hosts several conferences and has a variety of resources for its members to help bolster their resumes and portfolios.
Many property management organizations require membership to participate in their certification programs.
Top 12 Property Management Certifications
Property management certifications are important credentials that property managers/company owners should pursue. These designate you as an expert in one field or another or demonstrate your professional experience in a specific area of property management.
Here is a list of the top 11 property management certifications:
- Certified Property Manager (CPM)
- Residential Management Professional (RMP)
- Master Property Manager (MPM)
- Accredited Residental Manager (ARM)
- Accredited Commerical Manager (ACoM)
- Property Administrator Certificate (PAC)
- Facilities Management Certificate (FMC)
- Building Systems Maintenance Certificate (SMC)
- Real Property Administrator (RPA)
- Certified Apartment Manager (CAM)
- National Affordable Housing Professional Certification (NAHP)
- Vacation Rental Management Certificate Program
It is important to keep in mind that not every certificate is a fit for all types of property managers. Check out the table below for more information and the length of each program:
| Certificate Name | Who Is It For? | Length |
| Certified Property Manager (CPM) | Experienced Property Managers | 12 months + 36 months of experience required |
| Residential Management Professional (RMP) | Residential Property Managers | 24 hours of coursework + 2 years experience |
| Master Property Manager (MPM) | Experienced Residental Property Managers | 24 hours of coursework + 5 years experience |
| Accredited Residental Manager (ARM) | New Residential Property Managers | 1 – 2 months to complete all requirements |
| Accredited Commerical Manager (ACoM) | New Commercial Property Managers | 1 – 2 months to complete all requirements |
| Property Administrator Certificate (PAC) | New Commercial Property Managers | Self-paced (Up to 3 years to complete) |
| Facilities Management Certificate (FMC) | Any Property Manager | Self-paced (Up to 3 years to complete) |
| Building Systems Maintenance Certificate (SMC) | Property Managers focusing on Building Operation | Self-paced (Up to 3 years to complete) |
| Real Property Administrator (RPA) | Commercial Property Managers | Self-paced (Up to 7 years to complete + 3 years of experience required before completion) |
| Certified Apartment Manager (CAM) | Apartment Rental Managers | 40 hours of coursework within 6 months + 1 year of experience |
| National Affordable Housing Professional Certification (NAHP) | Affordable housing managers | 40 hours of coursework or training + at least 2 years of experience in affordable housing |
| Vacation Rental Management Certificate Program | Vacation Rental Managers | Self-paced |
1. Certified Property Manager (CPM)
Experienced property managers can apply for the CPM program through the National Association of Realtors. Over half of those who complete the program hold senior-level management positions.
They also earn significantly more than uncertified property managers. The base salary for a property manager is $43,340, for CPMs, the average is $118,383.
CPM Requirements
- 3 years (36 months) of experience
- Minimum of 12 months of coursework
- Member of IREM (Institute of Real Estate Management), attending at least two events
- NAR (National Association of REALTORS) Institute Affiliate Member
- 8 CPM certification courses
- CMP Capstone two-part exam (MPSA & CPMEXM)
Some applicants may qualify for a Fast Track option if they hold a specific designation, have a bachelor’s or graduate degree in real estate or property management, or have 20 years of qualifying verifiable experience.
2. Residential Management Professional (RMP)
The National Association of Residential Property Managers (NARPM) offers the Residential Management Professional designation to its members. It is another top certification for property managers and offers a way to enhance your education and career.
RMP Requirements
- Accomplished – Manages at least 100 units over 2 years
- Qualified – Licensed Real Estate Agent for 2 years (if required by state)
- Educated – completion of at least 18 hours of NARPM coursework
- Recommended – submit letters of recommendation from clients and other RMP or Master Property Manager designees
3. Master Property Manager (MPM)
The National Association of Residential Property Managers (NARPM) also offers the Master Property Manager certification for those who have the RMP designation and want to raise the bar even higher.
Acquiring this certification allows you to mark your business as a Certified Residential Management Company or CRMC. That certification can help you attract high-value clients who have lots of units they need to manage professionally and successfully.
MPM Requirements
- Accomplished – Manages at least 500 units over 5 years
- Qualified – Licensed Real Estate Agent for 5 years (if required by state)
- Educated – completion of at least 24 hours of NARPM coursework
- Advanced – holds an RMP designation
- Recommended – submit letters of recommendation
4. Accredited Residental Manager (ARM)
For property managers at the beginning of their property management career, the ARM certification is a great way to learn more about budgeting, leasing, maintenance, risk management, and more. Offered by IREM, this certification can lead to a higher salary, supervisory responsibilities, and networking opportunities.
ARM Requirements
- 2 certification courses via the ARM track
- ARM certification exam
- Apply, receive approval, and graduate
5. Accredited Commerical Manager (ACoM)
The Accredited Commercial Manager designation is perfect for those who want to complete high levels of property management training. It’s perfect for those early in their commercial management careers as it prepares managers for any type of commercial property. Through this program, you will learn to build better communication, budgeting, and become a pro at commercial leases.
ACoM Requirements
- 2 certification courses
- Pass the ACoM certification exam
- Apply, receive approval, and graduate
6. Property Administrator Certificate (PAC)
The Property Administrator Certificate is designed for new commercial property managers, offered by BOMI. It offers introductory coursework in maintenance of building systems, cost-effectiveness, and ongoing operations and is a great start toward a BOMI designation.
PAC Requirements
To achieve this certificate, you must complete the following courses with a 70% or higher
- Budgeting and Accounting
- Design, Operation, and Maintenance of Building Systems, Part I
- Design, Operation, and Maintenance of Building Systems, Part II
Coursework is offered online self-paced, collaborative virtual learning, classroom setting, or accelerated review.
7. Facilities Management Certificate (FMC)
BOMI also offers the Facilities Management Certificate for property managers who want to gain expertise in the ongoing operation and maintenance of facilities. By joining the course, you will learn how to keep the property in its top operational condition, manage personnel and projects, improve overall efficiency, and build a career in facilities management.
This is a great option for those who want to expand into commercial property management opportunities.
FMC Requirements
To achieve this certificate, you must complete the following courses with a 70% or higher
- Fundamentals of Facilities Management
- Design, Operation, and Maintenance of Building Systems, Part I
- Design, Operation, and Maintenance of Building Systems, Part II
Coursework is offered online self-paced, collaborative virtual learning, classroom setting, or accelerated review.
8. Building Systems Maintenance Certificate (SMC)
BOMI’s Building Systems Maintenance Certificate is an in-depth course that teaches you about important building principles like water treatment, efficient energy management, HVAC systems, and more. This certificate is especially useful for someone managing large apartment complexes with more than 10 units.
SMC Requirements
To achieve this certificate, you must complete the following courses with a 70% or higher
- Air Handling, Water Treatment, and Plumbing Systems
- Energy Management and Controls
- Boilers, Heating Systems, and Applied Mathematics, OR Refrigeration Systems and Accessories
9. Real Property Administrator (RPA)
The Real Property Administrator by BOMI designation is ideal for property managers who want to know how to operate commercial buildings successfully. This certificate program teaches you all about the diverse aspects of properly managing a large commercial building, such as maximizing net income, minimizing risks, and advertising commercial buildings for fast rentals.
Over the program’s course, you’ll learn topics like building design and operation, maintaining office buildings, and budgeting and accounting for commercial real estate properties. It also covers specific topics like how to review and select contract providers.
RPA Requirements
- 8 Courses Including – Budgeting and Accounting, Environmental Health and Saftey Issues, Ethics is Good Business, Law and Risk Management, Real Estate Investment and Finance, Design, Operation, and Maintenance of Building Systems Part I, Operation, and Maintenance of Building Systems Part II
- 1 Elective Course – Asset Management, Leasing and Marketing for Property Managers, OR Managing the Organization
- Earn a Certificate in BOMI PAC or PMFP
- Complete the Capstone Experience Program
- Pass the 100-question multiple-choice exam over two hours
10. Certified Apartment Manager (CAM)
Certified Apartment Manager or CAM certification by NAA is perfect for property managers who mostly or exclusively deal with apartment rentals. This credential is available 100% online and proves your ability to successfully manage an apartment community. It may help landlords find you trustworthy enough to manage multiple apartment units simultaneously.
CAM Requirements
- 12 months of onsite property management experience
- 40 hours of CAM coursework
- Meet all exam standards within 6 months
11. National Affordable Housing Professional Certification (NAHP)
The National Affordable Housing Management Association offers the NAHP certification for those looking to promote the highest level of standards in affordable housing management.
The certificate offers a recognition of your professionalism and competence in the affordable housing industry as well as a way to network with others in the specialized field of affordable housing.
NAHP Requirements
There are four levels of the program available to industry professionals. Requirements for each include:
- Professional – Course work in Certified Professional of Occupancy or Specialist in Housing Credit Management, and Fair Housing Compliance, with a minimum of 40 hours of training as a RAM, CPM, CAM, ARM, or 20 hours of Alternative Apartment ($125 application fee) Management training + 2 years of experience in affordable housing as a Site Manager, Assistant Manager, Occupancy Specialist, Leasing Consultant or similar
- Executive – The professional certification + 5 years of experience in affordable housing experience with at least 3 of the 5 years at an executive level and be in good standing with the state, local, or regional AHMA ($200 application fee)
- Honorary – This level of certificate is for those who have made significant contributions to the affordable housing industry – it is an honor awarded by the AHMA/NAHMA and cannot be applied for
- Emeritus – Certification option for those who are retiring but would like to stay up-to-date with the National Affordable Housing Management Association
12. Vacation Rental Management Certificate Program
The Vacation Rental Management certificate by VRMA can help property managers improve their skills and gain a competitive edge. The program covers business operations, marketing, owner and guest relations, and business planning.
Vacation Rental Management Certificate Requirements
- 5 online modules
- Pass the online assessment
Why Should I Get a Property Manager Certification?
A property management certification offers several benefits including:
- Opportunities for professional growth
- Opportunities for career and salary advancement
- Networking connections to others in your industry
- Training and education for current and future housing situations
How Much Does a Property Manager Certification Cost?
Property management certificates range from $450 to $9,000 and beyond. It typically depends on how many courses are required, if an exam is required, and the level of the certificate. For example, the CPM certificate ranges from $7,600 and $8,600 which includes:
- $6,200 for course and exam tuition (8 courses + capstone)
- $870 for annual dues
- $695 in fees for enrollment, graduation, and more
However, keep in mind the pay increase that can come with the high cost of some of the certificates. According to the National Association of Realtors, the average CPM makes over $70,000 more than the average property manager. While it can be an expensive cost up front, it can certainly pay off in the long run.
Many organizations offer discounts for courses, applications, and certificates to members. It’s a good idea to price out if the discount is worth spending the money for a membership.
