Top 11 Rental Agent Certifications

Certifications for rental agents are important because they demonstrate to employers that the individual has the necessary knowledge and experience to be successful in the job. Certifications show that the agent is knowledgeable about rental laws, regulations, and industry standards. They also indicate an individual’s commitment to their profession and can give employers confidence that their employees are well-trained and capable of completing their job duties. Additionally, certifications may give rental agents a competitive edge over non-certified applicants when applying for jobs.

This article reviews some of the top certifications for Rental Agents and explains how they can help advance a rental agent's career.

What are Rental Agent Certifications?

Rental Agent Certification is a professional designation for real estate agents who specialize in the rental market. It is designed to provide agents with a comprehensive understanding of rental issues and best practices, and to give them the skills they need to effectively serve their clients’ rental needs. It provides agents with knowledge on topics such as tenant rights and responsibilities, landlord-tenant law, fair housing laws, leasing agreements, security deposits, and more. With this certification, agents can better serve both landlords and tenants by helping them negotiate leases and find suitable properties. Furthermore, it can help agents stand out among their peers by demonstrating an increased level of expertise in the rental market. This can lead to increased job opportunities or higher salaries for those who have achieved the certification.

Pro Tip: Before you hire a rental agent, make sure they have a certification from the National Association of Residential Property Managers (NARPM). This ensures that the rental agent is experienced and knowledgeable about the rental industry. Additionally, having an NARPM certification means that the rental agent has received specialized training in areas such as tenant relations, lease enforcement, and property management.

Related: What does a Rental Agent do?

Top 11 Rental Agent Certifications

Here’s our list of the best certifications available to Rental Agents today.

1. Certified Property Manager (CPM)

Certified Property Manager (CPM) is a professional designation awarded by the Institute of Real Estate Management (IREM), an international organization that provides education, resources, and certification to real estate professionals. The CPM designation is the highest level of recognition for property management professionals and signifies a commitment to excellence in the field.

The CPM program consists of three steps:

1. Complete the required courses: To become a CPM, you must complete 12 IREM-approved courses. These courses cover topics such as finance, marketing, legal issues, and ethics.

2. Pass the exam: After completing the required courses, you must pass a comprehensive exam administered by IREM. This exam tests your knowledge of property management principles and practices.

3. Maintain your certification: Once you have earned your CPM designation, you must maintain it by completing continuing education credits every two years.

It typically takes about two years to complete all the requirements for the CPM designation. The cost of becoming a CPM varies depending on which courses and materials you choose to purchase. Generally speaking, expect to spend between $2,000 - $4,000 in total costs associated with earning your CPM designation.

2. Certified Apartment Manager (CAM)

Certified Apartment Manager (CAM) is a professional designation awarded by the National Apartment Association (NAA). It is the highest level of recognition for apartment management professionals and demonstrates a commitment to excellence in the industry.

The CAM program consists of three parts: an education component, an examination, and a portfolio review. The educational component requires that applicants have at least two years of experience in apartment management or related fields. They must also complete at least six NAA-approved courses, which cover topics such as leasing, marketing, maintenance, budgeting, customer service, and legal issues.

The examination is administered by the NAA and tests applicants on their knowledge of the industry. The portfolio review assesses applicants’ ability to manage apartments effectively. This includes analyzing financial statements, evaluating tenant satisfaction surveys, and providing examples of successful initiatives taken to improve operations.

It typically takes between four and six months to complete all three components of the CAM program. The cost varies depending on the number of courses taken and whether or not you are an NAA member; however, it typically costs around $1,000-$2,000 USD.

3. Accredited Residential Manager (ARM)

Accredited Residential Manager (ARM) is a professional certification program for property managers and real estate professionals. It is administered by the Institute of Real Estate Management (IREM), an affiliate of the National Association of Realtors. The ARM designation recognizes individuals who have demonstrated knowledge and experience in residential property management.

The ARM program consists of two parts: a coursework component and a professional examination. The coursework component requires completion of four courses, each focusing on a different area of residential property management: Financial Management, Human Resources Management, Operations Management, and Asset Management. The courses are offered online or in person at IREM-approved schools.

The professional examination is a multiple-choice exam that tests your knowledge and understanding of residential property management concepts and practices. To be eligible to take the exam, you must complete all four courses within two years prior to taking the exam.

To obtain the ARM designation, you must pass both the coursework component and the professional examination with a score of 70% or higher on each part. Once you have completed both components successfully, you will receive your official Accredited Residential Manager certificate from IREM.

The cost to obtain the ARM designation varies depending on where you take the courses and whether or not you are an IREM member. Generally speaking, it costs between $1,000 - $2,000 USD to complete all four courses and take the professional examination.

4. National Association of Residential Property Managers (NARPM)

The National Association of Residential Property Managers (NARPM) is a professional organization for residential property managers. It was founded in 1988 and has grown to over 6,000 members. NARPM provides education, networking, and resources to help its members succeed in the residential property management industry.

To become a member of NARPM, you must be an active residential property manager or have at least one year of experience in the field. You must also agree to abide by NARPM's Code of Ethics and Professional Standards. To join, you can apply online or download an application form from the website. The cost of membership is $195 per year for individuals and $295 per year for firms.

Once you are a member, you can take advantage of the many benefits that NARPM offers, such as educational courses and seminars, access to industry experts and resources, discounts on products and services, networking opportunities with other professionals in the field, and much more.

In addition to its membership benefits, NARPM also offers certification programs for those who want to further their knowledge and skills in residential property management. There are two levels of certification: Certified Residential Manager (CRM) and Master Property Manager (MPM). Each level requires applicants to pass an exam that tests their knowledge of the industry standards and best practices. The cost for each exam is $150.

Overall, becoming a member of NARPM can be beneficial for anyone looking to advance their career in residential property management or gain additional knowledge about the industry standards and best practices.

5. Real Estate Negotiation Expert (RENE)

Real Estate Negotiation Expert (RENE) is a certification program offered by the Real Estate Negotiation Institute (RENI). The program is designed to provide real estate professionals with specialized education and training in negotiation strategies for residential and commercial real estate transactions.

The RENE program consists of two parts: an online course and an in-person workshop. The online course covers topics such as the fundamentals of negotiation, communication strategies, buyer/seller dynamics, and more. It takes approximately 8-10 hours to complete the online course.

To become certified as a RENE, you must complete both the online course and the in-person workshop. The in-person workshop is a two-day intensive training event that covers advanced negotiation techniques, contract law, dispute resolution strategies, and more.

The cost of the RENE certification program varies depending on your location but typically ranges between $500-$1,000 USD.

6. Certified Leasing Professional (CLP)

Certified Leasing Professional (CLP) is a professional designation given to individuals who have demonstrated a high level of knowledge and experience in the leasing industry. The CLP designation is awarded by the National Apartment Association (NAA), an organization that promotes excellence and professionalism in the rental housing industry.

To become a Certified Leasing Professional, one must complete an online course offered by NAA. This course covers topics such as leasing fundamentals, marketing, customer service, financial analysis, legal issues and more. The course typically takes between 8-10 hours to complete and costs $175 for members of NAA or $225 for non-members. After completing the course, applicants must pass an exam to receive their CLP certification.

The CLP designation is beneficial for those looking to advance their career in the leasing industry as it demonstrates a commitment to professional development and mastery of the necessary skills required for success in this field.

7. Certified Rental Specialist (CRS)

Certified Rental Specialist (CRS) is a professional designation program offered by the American Rental Association (ARA). It is designed to recognize individuals who have achieved a high level of knowledge and proficiency in the rental industry. The CRS program provides the necessary tools and resources for rental professionals to be successful in their careers.

The CRS program consists of three levels: Certified Rental Associate (CRA), Certified Rental Manager (CRM), and Certified Rental Professional (CRP). Each level requires passing an exam and completing at least eight hours of continuing education credits every two years. To obtain the CRS designation, individuals must successfully complete all three levels within five years.

It typically takes between one to two years to complete all three levels of the CRS program. The cost of obtaining the CRS designation varies depending on which level you are attempting to achieve and how quickly you want to complete it. Generally, it will cost around $2,000-$3,000 for all three levels.

8. Certified Occupancy Specialist (COS)

A Certified Occupancy Specialist (COS) is a professional designation that is awarded to individuals who have demonstrated expertise in the field of occupancy standards and regulations. This certification is administered by the National Affordable Housing Management Association (NAHMA). The COS certification program provides an opportunity for property managers, owners, and other housing professionals to demonstrate their knowledge of the latest HUD guidelines and regulations related to occupancy standards.

The COS certification requires applicants to pass a comprehensive exam that covers topics such as tenant selection, rent reasonableness, occupancy fraud prevention, tenant screening processes, and more. The exam consists of 100 multiple-choice questions and takes approximately three hours to complete.

In order to qualify for the COS certification exam, applicants must have at least two years of full-time experience in affordable housing management or equivalent education in the field. Additionally, applicants must be members of NAHMA in good standing.

The cost for taking the COS certification exam varies depending on whether you are a member or non-member of NAHMA. For members, the fee is $175; for non-members it is $225. After passing the exam, there is an additional fee of $50 for processing your application and issuing your certificate.

9. Residential Management Professional (RMP)

Residential Management Professional (RMP) is a professional designation that recognizes individuals who have met the standards of excellence in residential property management. The RMP designation is awarded by the National Association of Residential Property Managers (NARPM). To become an RMP, you must demonstrate a commitment to ethical and professional conduct, as well as a comprehensive knowledge of the residential property management industry.

It takes approximately six months to complete the requirements for the RMP designation. To begin, you must be a current NARPM member in good standing and have at least two years of experience in residential property management. You must also complete an application and submit it to NARPM with all required documentation. Once your application has been approved, you will need to pass an online exam that covers topics such as contracts, leasing, maintenance, legal issues, accounting practices, and customer service.

The cost for obtaining the RMP designation varies depending on whether or not you are already a member of NARPM. If you are not currently a member, there is an additional $100 fee for joining. The total cost for obtaining the RMP designation is approximately $500-$600 USD.

10. Fair Housing Certification

Fair Housing Certification is a program designed to ensure that all housing providers comply with the federal Fair Housing Act. The Fair Housing Act prohibits discrimination in the sale, rental, and financing of dwellings based on race, color, national origin, religion, sex, familial status, or disability. To receive Fair Housing Certification, housing providers must demonstrate that they are in compliance with all applicable fair housing laws and regulations.

The process for obtaining Fair Housing Certification typically takes about two weeks. To begin the certification process, housing providers must first complete an online application and submit it to their local fair housing agency. Once submitted, the agency will review the application and contact the applicant if additional information is needed. After completing a thorough review of the application materials, the agency will issue a certificate of completion indicating that the provider has met all requirements for Fair Housing Certification.

The cost of obtaining Fair Housing Certification varies depending on the size of the property or organization being certified. Generally speaking, smaller properties may pay as little as $50 while larger organizations may pay upwards of $500 or more for certification. Additionally, some states offer grants or other financial assistance to help cover these costs.

Overall, obtaining Fair Housing Certification is an important step for any housing provider looking to ensure compliance with federal law and protect their tenants from discrimination.

11. National Association of Realtors® Green Designation

The National Association of Realtors® Green Designation is a professional designation program that provides real estate professionals with the knowledge and skills to understand, promote, and facilitate green building practices. The designation is designed to help real estate agents become knowledgeable about green building principles and practices, as well as the financial incentives available for clients who choose to pursue green building options.

To earn the designation, participants must complete a two-day course and pass an exam. The course covers topics such as energy efficiency, renewable energy sources, water conservation, indoor air quality, sustainable materials, and more. Upon successful completion of the course and exam, participants receive their NAR Green Designation certificate.

The cost of the NAR Green Designation program varies depending on whether you choose to take the course in person or online. The online version costs $295 while the in-person version costs $395.

Overall, earning your NAR Green Designation can be a great way to differentiate yourself from other real estate agents by demonstrating your commitment to sustainability and green building practices.

Do You Really Need a Rental Agent Certificate?

The answer to this question depends on your goals and the local laws in your area. If you are hoping to become a rental agent, some states require that you obtain a certificate or license in order to be legally allowed to do so. In those cases, yes, you would need a rental agent certificate.

In other cases, such as if you are only looking to manage the rental properties of family and friends or manage your own property, then a rental agent certificate may not be necessary. However, having one can still be beneficial. A rental agent certificate will provide you with an understanding of the legal obligations and responsibilities associated with being a landlord or property manager. It can also give you an edge when applying for jobs as a rental agent.

Ultimately, it is up to you to decide whether investing in a rental agent certificate is worth it for your particular situation. You should consider the cost and time involved in obtaining one as well as the benefits it could provide for your career prospects or personal endeavors before making a decision.

Related: Rental Agent Resume Examples

FAQs About Rental Agent Certifications

1. What is a rental agent certification?

Answer: A rental agent certification is a professional designation that demonstrates an individual’s knowledge and expertise in the field of real estate rental management. It is awarded upon successful completion of an approved training program and/or examination.

2. How do I become certified as a rental agent?

Answer: To become certified, you must complete an approved training program or pass an exam administered by a recognized certifying body such as the Institute of Real Estate Management (IREM). You may also need to satisfy certain additional requirements, depending on your state or country.

3. What are the benefits of becoming certified as a rental agent?

Answer: Having a rental agent certification can provide several benefits, including increased credibility in the industry, access to valuable resources and support networks, potential for higher wages, and greater job security.

4. How long does it take to get certified as a rental agent?

Answer: The amount of time required to obtain certification depends on several factors, such as the type of training program or exam taken, any additional requirements needed to meet state or country regulations, and the individual’s level of experience in the field. Generally speaking, it can take anywhere from six months to two years to become certified.

5. Are there any continuing education requirements for maintaining my rental agent certification?

Answer: Yes, most certifying bodies require that individuals maintain their certification through ongoing education activities such as attending conferences or workshops or completing online courses related to real estate management topics.