Top 10 Lease Administrator Certifications

Certifications for a lease administrator are important in the job market because they demonstrate to employers that the candidate has the knowledge and skills necessary to perform their job. Certification programs provide a comprehensive understanding of the legal, financial, and technical aspects of leasing, as well as offering professional development opportunities. Having certifications can also show potential employers that an individual is committed to their career and dedicated to staying up-to-date on the latest trends in leasing. Certifications also offer credibility and recognition within the industry, which can help a candidate stand out from other applicants when applying for a job.

The purpose of this article is to provide an overview of some of the top certifications for Lease Administrators and to explain how they can help further their career.

What are Lease Administrator Certifications?

Lease administrator certification is a professional designation that recognizes individuals who have demonstrated a mastery of the skills and knowledge necessary to effectively manage commercial leases. By obtaining this certification, individuals demonstrate their ability to interpret, negotiate, and administer all types of commercial lease agreements.

Lease administrators must possess an in-depth understanding of the legal issues involved in leasing, as well as the financial implications of lease agreements. They must also be familiar with the laws and regulations governing real estate transactions. Certification provides assurance that lease administrators have acquired the skills necessary to handle complex leasing matters efficiently and accurately.

The certification process involves passing an exam administered by a recognized organization such as The Institute for Lease Administration (ILA). This exam covers topics such as real estate law, finance, taxation, accounting, marketing, negotiation skills, and more. Successful completion of the exam earns an individual the Certified Leasing Administrator (CLA) designation from ILA.

A CLA is able to provide value-added services for employers or clients who require knowledgeable assistance in negotiating and managing their commercial leases. A CLA can help ensure that all parties are aware of their rights and obligations under a lease agreement; they can also assist with strategic planning related to leasing decisions. In addition, CLAs may be called upon to provide expert testimony in court proceedings related to real estate law or disputes over commercial leases.

By obtaining lease administrator certification, professionals demonstrate their commitment to excellence in their field while helping employers or clients make informed decisions about their leasing arrangements.

Pro Tip: When pursuing a lease administrator certification, make sure to take courses that will give you a comprehensive understanding of the lease administration process. This includes topics such as lease negotiation, contract law, accounting principles, and more. Additionally, look for certifications that offer continuing education opportunities to keep your skills up-to-date with the changing leasing industry.

Related: What does a Lease Administrator do?

Top 10 Lease Administrator Certifications

Here’s our list of the best certifications available to Lease Administrators today.

1. Certified Lease and Rental Administrator (CLRA)

Certified Lease and Rental Administrator (CLRA) is a professional certification program offered by the National Apartment Association Education Institute (NAAEI). It is designed to provide leasing professionals with the knowledge and skills necessary to effectively manage rental properties. The CLRA certification is a three-part program that includes an online course, an exam, and a practical application portfolio.

The online course covers topics such as lease agreements, tenant screening, fair housing laws, marketing strategies, maintenance operations, and more. The exam consists of 100 multiple-choice questions that cover the material from the online course. Once you pass the exam, you will need to submit a portfolio of your work experience in order to demonstrate your ability to apply what you have learned.

It typically takes between six months and one year to complete all three parts of the CLRA certification program. To get started, you must first register for the online course through NAAEI's website. After registering for the course, you will be able to access it and begin studying for the exam. Once you pass the exam, you can submit your portfolio for review by NAAEI's Certification Board.

The cost of obtaining a CLRA certification varies depending on how quickly you want to complete it. The total cost includes registration fees for both the online course and exam as well as any additional materials needed for completing your portfolio submission (such as transcripts or letters of recommendation). In general, it costs around $500-$600 in total to become certified as a CLRA.

2. Certified Leasing Professional (CLP)

Certified Leasing Professional (CLP) is a professional certification program for leasing professionals. It is designed to recognize those who have demonstrated the knowledge and experience necessary to perform in the leasing industry at a high level of competence. The CLP designation is awarded by the National Apartment Association Education Institute (NAAEI).

The CLP program consists of two components: an online course and an exam. The online course covers topics such as lease law, financial analysis, tenant relations, marketing and advertising, and more. After successfully completing the online course, candidates must pass a comprehensive exam to earn their CLP designation.

The cost of obtaining the CLP designation varies depending on whether you are a member of NAAEI or not. For non-members, the cost is $595; for members, it is $395. The cost includes access to the online course materials and the exam fee.

It typically takes about six months to complete the online course and take the exam. However, some individuals may be able to complete it in less time depending on their prior knowledge and experience in leasing.

3. Certified Equipment Leasing Professional (CELP)

Certified Equipment Leasing Professional (CELP) is a certification program for individuals in the equipment leasing industry. It is designed to recognize and promote excellence in the field. The certification requires a minimum of three years of experience in the equipment leasing industry, as well as successful completion of an extensive examination.

The CELP exam covers a wide range of topics, including legal and regulatory issues, financial analysis, lease structuring, and asset management. The exam consists of multiple-choice questions and takes approximately three hours to complete.

To become certified, applicants must submit an application form along with proof of their work experience in the equipment leasing industry. Once approved, they must then register for and pass the CELP exam administered by the National Equipment Finance Association (NEFA).

The cost to take the CELP exam is $395 for members of NEFA or $495 for non-members. The fee includes access to study materials and practice exams. After passing the exam, there is an additional annual fee of $95 for members or $125 for non-members to maintain certification status.

4. Certified Real Estate Leasing Specialist (CRLS)

A Certified Real Estate Leasing Specialist (CRLS) is a professional designation for real estate professionals who specialize in leasing and managing residential properties. The CRLS designation is awarded by the National Association of Residential Property Managers (NARPM) and requires the successful completion of a comprehensive training program, as well as an examination.

The CRLS training program typically takes between two to four days to complete, depending on the instructor and the course material. The program covers topics such as tenant screening, lease negotiations, property management laws, fair housing regulations, maintenance and repair issues, accounting and financial management, marketing strategies, customer service skills, and more.

In order to become certified as a CRLS, applicants must first be members of NARPM. Membership fees vary depending on the type of membership chosen. After joining NARPM, applicants will need to register for the CRLS training program. The cost of this program varies depending on the provider but typically ranges from $300-$500 per person.

Once all requirements are met, applicants can take the exam online or at a designated testing center. Applicants must pass with a score of 70% or higher in order to receive their certification.

5. Certified Property Manager (CPM)

Certified Property Manager (CPM) is a professional designation offered by the Institute of Real Estate Management (IREM). It is the highest level of recognition for real estate professionals who specialize in managing and leading property management operations. The CPM designation is a mark of excellence that demonstrates an individual’s commitment to professional development, ethical practice, and superior performance in the field of property management.

To become a Certified Property Manager, individuals must meet certain criteria and pass a comprehensive exam. To qualify for the exam, applicants must have at least three years of experience in real estate management or related fields. They must also complete IREM courses that cover topics such as financial analysis, legal issues, marketing strategies, tenant relations, and more.

It typically takes between six months to one year to complete the required coursework and prepare for the CPM exam. The cost of taking the exam varies depending on whether you are an IREM member or non-member. For members, it costs $495; for non-members, it costs $695. Additionally, there are fees associated with taking each course ($250-$400).

6. Certified Commercial Investment Member (CCIM)

Certified Commercial Investment Member (CCIM) is a professional designation awarded by the CCIM Institute, an affiliate of the National Association of Realtors. The CCIM designation is held by commercial real estate professionals who have completed a rigorous program of coursework and demonstrated their ability to analyze and make sound decisions in commercial investment real estate.

It typically takes between two and four years to complete the requirements for the CCIM designation. The process includes completing a series of courses on topics such as financial analysis, market analysis, user decision analysis, investment analysis, and ethics. Candidates must also pass comprehensive exams in each area and demonstrate their experience in commercial real estate transactions through case studies.

To get the CCIM designation, you must first become a member of the CCIM Institute. Membership fees vary depending on your membership type but typically range from $400-$1,000 per year. Once you become a member, you can register for classes and exams at approved education centers or online through eLearning programs. After completing all required coursework and passing all exams, candidates can apply for their CCIM designation. The cost for this varies depending on your membership type but typically ranges from $500-$1,500.

7. Accredited Residential Manager (ARM)

Accredited Residential Manager (ARM) is a professional designation offered by the Institute of Real Estate Management (IREM). It is designed to recognize residential property managers who have achieved a high level of professional excellence and expertise in the field. The ARM designation is an important credential for those seeking to advance their career in residential property management.

To obtain the ARM designation, applicants must meet certain educational and experience requirements. Applicants must have at least two years of full-time residential property management experience, or four years of part-time residential property management experience. Additionally, applicants must complete two courses from IREM's Accredited Residential Manager program, which consists of eight courses focusing on topics such as Fair Housing Laws, Tenant Relationships, Financial Management and Property Maintenance.

The cost for obtaining the ARM designation varies depending on whether you are a member of IREM or not. For non-members, it costs $1,195 for all eight courses; for members it costs $995 for all eight courses. The entire process typically takes around six months to complete, but this can vary depending on how quickly you work through the course material.

8. National Apartment Association’s Certified Apartment Manager (NAA-CAM)

The National Apartment Association’s Certified Apartment Manager (NAA-CAM) is a professional certification program for apartment managers. This certification is designed to recognize the knowledge and skills of experienced apartment managers. The NAA-CAM is intended to demonstrate that a manager has the necessary knowledge, skills, and abilities to effectively manage an apartment community.

To obtain the NAA-CAM certification, candidates must have at least three years of experience in the apartment industry and must complete a series of courses offered by the National Apartment Association. The courses cover topics such as leasing, marketing, maintenance, customer service, budgeting and financial management, human resources management, and legal compliance. Candidates must also pass an exam in order to receive their certification.

The cost of obtaining the NAA-CAM certification varies depending on the number of courses taken and whether or not you are a member of the National Apartment Association. Generally speaking, it can cost anywhere from $400-$1,000 to become certified. It typically takes around one year to complete all of the requirements for this certification.

9. Institute of Real Estate Management’s Certified Property Manager (IREM-CPM)

The Institute of Real Estate Management’s Certified Property Manager (IREM-CPM) is a professional designation awarded to real estate managers who have demonstrated a high level of expertise in the field. This certification is highly sought after by employers and is considered to be one of the most prestigious designations in the industry.

To obtain the IREM-CPM, applicants must complete an extensive program that includes both classroom and online instruction. The program typically takes between two to three years to complete, depending on the individual's experience and commitment. Applicants must also pass a comprehensive exam that covers topics such as property management principles, financial analysis, legal issues, marketing strategies, and customer service.

In order to qualify for the IREM-CPM program, applicants must have at least five years of full-time experience in real estate management or related fields. They must also be members of IREM in good standing and have completed at least 75 hours of continuing education within the past three years.

The cost for obtaining the IREM-CPM certification varies depending on whether you are an existing member or not. For existing members, it costs $495 for the application fee plus $1,500 for tuition fees. For non-members, it costs $695 for the application fee plus $2,000 for tuition fees.

10. Building Owners and Managers Institute’s Real Property Administrator (BOMI-RPA).

The Building Owners and Managers Institute’s Real Property Administrator (BOMI-RPA) is a professional designation program designed to provide property managers with the skills necessary to effectively manage real estate assets. The BOMI-RPA program consists of three courses: Real Property Administration, Financial Analysis for Real Estate Decisions, and Risk Management for Real Estate Decisions. Each course is offered online or in a classroom setting, and can be completed in two to four months depending on the student's schedule.

To obtain the BOMI-RPA designation, students must complete all three courses and pass an exam at the end of each course. The exams are administered by BOMI International, which is an independent testing organization that provides certification services for property management professionals. The cost of the BOMI-RPA program varies depending on the number of courses taken and whether they are taken online or in a classroom setting. However, the total cost typically ranges from $1,500 to $2,500 USD.

Do You Really Need a Lease Administrator Certificate?

The answer to this question depends on your individual circumstances. If you are interested in working in the field of lease administration, then a Lease Administrator Certificate could be beneficial. This certificate is designed to give students a comprehensive understanding of the legal aspects of leasing and rental agreements, as well as the practical skills necessary to manage and administer such agreements. With this certification, you will have a greater chance of being hired for positions related to lease administration or other real estate-related roles.

However, if you already have experience in the field or are looking for entry-level positions that do not require a certificate, then pursuing one may not be necessary. Many employers prefer candidates with experience over those with certificates. Additionally, some employers may require a certain degree level (such as an associate degree) before they consider someone for hire. Therefore, it is important to carefully consider your individual situation before deciding whether or not obtaining a Lease Administrator Certificate would benefit you.

Related: Lease Administrator Resume Examples

FAQs About Lease Administrator Certifications

Q1: What is a Lease Administrator Certification?

A1: A Lease Administrator Certification is a professional certification that demonstrates expertise in the field of lease administration. It requires knowledge of leasing regulations, legal documents, financial analysis, and negotiation skills.

Q2: What are the benefits of a Lease Administrator Certification?

A2: A Lease Administrator Certification provides recognition of your professional skills and abilities in the field of lease administration. This can lead to increased job opportunities, higher salaries, and greater career advancement.

Q3: How do I obtain a Lease Administrator Certification?

A3: There are several organizations that offer Lease Administrator Certifications, including the International Association of Professional Leasing Administrators (IAPLA), the American Institute of Certified Public Accountants (AICPA), and the National Association of Realtors (NAR). Each organization has different requirements for certification.

Q4: How long does it take to complete a Lease Administrator Certification?

A4: The amount of time needed to complete a Lease Administrator Certification will vary depending on which organization you choose and how much experience you have in the field. Generally, it takes between 4-6 months to become certified.

Q5: Is there an exam required for my Lease Administrator Certification?

A5: Yes, most organizations require an exam as part of their certification process. The exam typically covers topics such as leasing regulations, legal documents, financial analysis, and negotiation skills.