Top 10 Residence Manager Certifications

Certifications are important for a residence manager because they demonstrate that the individual has the knowledge and skills necessary to perform their job effectively. They also show potential employers that the individual is committed to ongoing professional development and staying up-to-date on the latest trends in residence management. Certifications provide evidence of an individual’s expertise, which can be especially helpful when competing for jobs against other qualified applicants. Additionally, certifications can open up opportunities for career advancement, as many employers prefer to hire candidates with specialized credentials.

This article reviews the most beneficial certifications for residence managers and explains how they can help to enhance their career opportunities.

What are Residence Manager Certifications?

Residence manager certification is a type of professional training that prepares individuals for the job of managing residential properties. It covers topics such as tenant relations, conflict resolution, budgeting and financial management, maintenance and repair, legal issues, and other related topics.

Having a residence manager certification can help individuals demonstrate their knowledge and experience in this field. It serves as proof of their ability to effectively manage residential properties and can give them an edge when it comes to job searches or promotions. Certification also allows managers to stay up-to-date on industry best practices and trends. This can be especially beneficial when dealing with newer technologies or changing regulations in the rental housing industry. Furthermore, certified residence managers may have access to exclusive resources such as discounted insurance rates or access to specialized training materials.

Pro Tip: When considering a residence manager certification, be sure to research the accreditation of the program. Look for programs that are accredited by an organization like the National Association of Residential Property Managers (NARPM). This will ensure that you are receiving quality education and training in the field of residential property management.

Related: What does a Residence Manager do?

Top 10 Residence Manager Certifications

Here’s our list of the best certifications available to Residence Managers today.

1. Certified Apartment Manager (CAM)

Certified Apartment Manager (CAM) is a professional certification program for apartment managers and leasing professionals. The certification program is administered by the National Apartment Association (NAA) and provides a comprehensive education in the areas of property management, marketing, maintenance, and customer service.

It typically takes between six to nine months to complete the CAM program. To get started, you must first become an NAA member. After that, you can register for the CAM course online or through your local NAA chapter. Once registered, you will receive access to online course materials and be able to take part in virtual classes and webinars. You must also complete two exams in order to earn your CAM certification.

The cost of the CAM program varies depending on whether you are an NAA member or not. Non-members pay $695 for the entire program while members pay $595. In addition, there are additional fees for textbooks and exam proctoring services if needed.

Once you have completed all requirements of the CAM program, you will be awarded with a Certified Apartment Manager certificate from NAA which is valid for three years before needing renewal.

2. Certified Residential Property Manager (CRPM)

Certified Residential Property Manager (CRPM) is a professional certification offered by the National Association of Residential Property Managers (NARPM). This certification is designed to recognize individuals who have achieved a high level of expertise in residential property management. The CRPM certification requires that an individual demonstrate knowledge and experience in all aspects of residential property management, including tenant relations, leasing and marketing, maintenance and repair, budgeting and financial analysis, legal compliance, risk management, and more.

In order to become certified as a CRPM, applicants must meet certain educational requirements and have at least two years of verifiable experience as a residential property manager. Applicants must also pass an exam administered by NARPM. The exam consists of 150 multiple-choice questions covering topics such as tenant relations, leasing and marketing, maintenance and repair, budgeting and financial analysis, legal compliance, risk management, and more.

The cost for the CRPM certification is $395 for members of NARPM or $495 for non-members. The exam fee is included in this price. It typically takes between 4-6 weeks to receive the results from the exam once it has been taken.

Once an individual has earned their CRPM certification they must maintain their membership with NARPM in order to keep their certification active. They will also need to complete at least 12 hours of continuing education credits each year in order to stay current on industry trends and best practices.

3. National Apartment Association Certified Professional (NAA-CP)

The National Apartment Association Certified Professional (NAA-CP) is a professional certification program offered by the National Apartment Association (NAA). The NAA-CP certification is designed to recognize individuals who have demonstrated a high level of knowledge and proficiency in the areas of property management, leasing, marketing, and maintenance.

To obtain the NAA-CP certification, applicants must meet certain eligibility requirements and pass an examination. The eligibility requirements include having at least two years of experience in the multifamily housing industry, or having completed an approved educational program.

The exam consists of 100 multiple-choice questions covering topics such as fair housing laws, tenant relations, lease agreements, financial management, and safety regulations. Applicants must score at least 70% on the exam to receive their NAA-CP certification.

The cost for taking the NAA-CP exam is $195 for members of the National Apartment Association and $295 for nonmembers. The exam fee includes access to online study materials and practice exams. It typically takes about four hours to complete the exam.

4. Accredited Residential Manager (ARM)

Accredited Residential Manager (ARM) is a professional certification program offered by the Institute of Real Estate Management (IREM). It is designed to recognize individuals who have demonstrated competence in residential property management.

The ARM certification program consists of four courses and an exam. The four courses are: Financial Management, Human Resources & Risk Management, Marketing & Leasing, and Maintenance & Physical Plant. The exam covers topics such as legal issues, budgeting and financial management, tenant relations, marketing and leasing, maintenance and physical plant operations, risk management and human resources.

It typically takes about six months to complete the ARM certification program. To get started, applicants must first become a member of IREM by submitting an application form along with the required fees. Once membership is approved, applicants can register for the ARM coursework through IREM’s online learning platform. After completing all four courses and passing the exam, applicants will receive their ARM certification.

The cost of becoming an Accredited Residential Manager varies depending on whether you are already a member of IREM or not. If you are not a member of IREM yet, then the total cost for becoming an ARM is $1125 USD ($425 USD for membership + $700 USD for coursework). If you are already a member of IREM then the total cost is only $700 USD for coursework.

5. Certified Occupancy Specialist (COS)

A Certified Occupancy Specialist (COS) is a professional who has been certified by an accredited organization to demonstrate proficiency in the area of rental housing occupancy and tenant relations. The COS certification is designed to provide housing providers with the knowledge and skills necessary to effectively manage their rental properties. This certification requires a comprehensive understanding of fair housing laws, tenant screening practices, lease agreements, rental policies and procedures, and other related topics.

The COS certification can be obtained through an accredited organization such as the National Center for Housing Management (NCHM). The NCHM offers both online and in-person classes that cover all aspects of rental housing occupancy. To become certified, applicants must pass an exam that covers topics such as fair housing law, tenant screening practices, lease agreements, rental policies and procedures, and more.

The cost of obtaining COS certification varies depending on the program chosen. For example, the NCHM’s online course costs $295 while its in-person class costs $395. Both courses require approximately 40 hours of study time prior to taking the exam.

In addition to the cost of the course or exam fee, applicants may also need to pay for any additional materials needed for studying or taking the exam such as textbooks or practice tests. After passing the exam, applicants will receive their COS certification which is valid for two years before needing to be renewed.

6. National Center for Housing Management Certification (NCHM-C)

The National Center for Housing Management Certification (NCHM-C) is a professional certification program that is designed to recognize and promote excellence in housing management. It is the only national certification program that focuses on the management of multi-family housing, including public housing, Section 8, and other subsidized programs. The NCHM-C certification is offered by the National Association of Housing and Redevelopment Officials (NAHRO).

The NCHM-C certification requires applicants to have at least two years of experience in housing management or related fields. Applicants must also pass an exam that covers topics such as tenant relations, budgeting, maintenance, legal issues, and more. The exam consists of multiple choice questions and a written essay.

It typically takes about three months to complete the NCHM-C certification process once all requirements are met. To get started, applicants must submit an application form along with any required documents and fees. Once approved, applicants must register for the exam and then take it at an approved testing center. After passing the exam, applicants will receive their official NCHM-C certificate within four weeks.

The cost for taking the NCHM-C exam varies depending on the applicant’s location but generally ranges from $200-$400 USD.

7. Certified Property Manager (CPM)

Certified Property Manager (CPM) is a professional designation offered by the Institute of Real Estate Management (IREM). It is designed to recognize individuals who have achieved a high level of knowledge and expertise in the field of property management. The CPM designation is widely recognized as the highest level of achievement in the field.

To qualify for the CPM designation, applicants must meet certain educational requirements and have at least three years of experience in property management. They must also pass an exam administered by IREM. The exam covers topics such as financial management, legal issues, tenant relations, marketing, and more.

The process typically takes about six months to complete, depending on how quickly you can complete all the required steps. To get started, you will need to fill out an application with IREM and submit your education transcripts and proof of experience. Once approved, you will be able to register for the exam. After passing the exam, you will receive your certificate from IREM and become a Certified Property Manager (CPM).

The cost for obtaining a CPM designation varies depending on where you live and which program you choose. Generally speaking, it costs around $1,000-$2,000 to go through the entire process. This includes application fees, study materials, exams fees, etc.

8. Institute of Real Estate Management Certification (IREM-CPM)

The Institute of Real Estate Management (IREM) Certified Property Manager (CPM) designation is a professional certification for real estate managers. It is the highest credential in the industry and recognizes individuals who have demonstrated the knowledge, experience, and dedication essential to managing real estate successfully.

To earn the CPM designation, applicants must meet certain educational requirements and demonstrate their experience in property management. They must also pass an examination that covers topics such as finance, legal issues, human resources, marketing, and technology. The exam consists of multiple-choice questions and case studies.

It typically takes at least two years to complete all the requirements for the CPM designation. Applicants must first become members of IREM and complete a minimum of 60 hours of qualifying education courses offered by IREM or other approved organizations. They must also have three years of full-time experience in property management or related fields.

Once all the requirements are met, applicants can apply to take the CPM exam. The exam fee is $595 for IREM members and $795 for nonmembers. After passing the exam, applicants must submit proof of their experience to receive their CPM designation from IREM.

The cost of earning a CPM designation varies depending on individual circumstances but typically ranges from $1,000 to $2,500 including membership fees, course fees, exam fees, and other expenses associated with obtaining the credential.

9. Building Owners and Managers Association International Certification (BOMA-I/RECM)

The Building Owners and Managers Association International (BOMA-I/RECM) certification is a professional designation that recognizes the expertise of real estate professionals in the areas of property management and operations. The certification requires applicants to demonstrate their knowledge, skills, and abilities in managing and operating commercial, industrial, retail, and residential buildings.

To obtain the BOMA-I/RECM certification, applicants must first meet the eligibility criteria. This includes having at least three years of experience in building operations or property management; a bachelor’s degree or higher; and completion of an approved course in building operations or property management. After meeting these criteria, applicants can then take the BOMA-I/RECM exam.

The exam consists of 100 multiple choice questions covering topics such as building systems, tenant relations, legal issues, financial management, marketing, sustainability practices, and more. Applicants are given four hours to complete the exam. Upon successful completion of the exam with a score of 70% or higher, applicants will receive their BOMA-I/RECM certification.

The cost for taking the BOMA-I/RECM exam is $395 for members of BOMA International and $495 for non-members.

10. Housing Credit Certified Professional (HCCP)

Housing Credit Certified Professional (HCCP) is a professional certification program offered by the National Association of Home Builders (NAHB). It is designed to help individuals gain knowledge and proficiency in the Low-Income Housing Tax Credit (LIHTC) program. The LIHTC program is the largest source of federal funding for affordable housing in the United States.

The HCCP certification requires completion of a two-day course and passing an exam. The course covers topics such as LIHTC eligibility, credit calculations, compliance requirements, and financial management of LIHTC properties. The exam consists of multiple choice questions and must be passed with a score of at least 70%.

It usually takes around two weeks to get the HCCP certification after successfully completing the course and passing the exam. To get certified, you must register for an approved course through NAHB's website or contact your state housing finance agency for more information.

The cost to become an HCCP varies depending on where you take the course. Generally, it costs between $500-$1,000 to register for a two-day training session and take the exam.

Do You Really Need a Residence Manager Certificate?

The answer to this question depends on a few factors. First, what type of residence manager certificate are you referring to? Different states may have different requirements for the types of residence manager certificates they offer. In some cases, the certificate may be required in order to manage certain types of properties or complexes.

Second, what level of experience do you have managing residential properties? Some states require that a person has a certain number of years of experience in order to receive a residence manager certificate. If you don’t meet this requirement, then it’s likely that you won’t need one.

Finally, what is your long-term goal? If you plan on managing multiple residential properties in the future, then having a residence manager certificate could be beneficial. It shows potential employers that you have the necessary knowledge and qualifications to effectively manage their property. On the other hand, if you only plan on managing one property at a time, then obtaining a residence manager certificate may not be necessary.

In conclusion, whether or not you need a residence manager certificate depends on several factors such as your current experience managing residential properties and your future goals. Consider these carefully before deciding whether or not obtaining one is right for you.

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FAQs About Residence Manager Certifications

1. What are the benefits of a Residence Manager Certification?

Answer: A Residence Manager Certification provides recognition of one’s knowledge and skills in the field of residential property management. It also increases marketability, job security, and earning potential.

2. How long does it take to get certified as a Residence Manager?

Answer: The length of time required to obtain a Residence Manager Certification depends on the program chosen, but typically takes between 6 months and 1 year to complete.

3. Are there any prerequisites for obtaining a Residence Manager Certification?

Answer: Most certification programs require applicants to have a minimum of 2 years of experience in residential property management or related fields. Some programs may also require applicants to pass an exam prior to being accepted into the program.

4. Is there an exam required for obtaining a Residence Manager Certification?

Answer: Yes, most certification programs require applicants to pass an exam prior to being accepted into the program. The exact requirements vary by program, so be sure to check with your chosen provider before enrolling in any course or exam preparation materials.

5. How much does it cost to become certified as a Residence Manager?

Answer: Costs vary depending on the certification program chosen, but typically range from $200 - $500 USD for application fees and exams. Additional costs may include books and other course materials or membership fees if applicable.