Top 10 Residential Property Manager Certifications

Certifications are an important tool for residential property managers to demonstrate their knowledge and expertise in the field. Having certifications can help a property manager stand out from other candidates in the job market and give them an edge when competing for positions. A certification can also show employers that a residential property manager has taken the time to gain specialized knowledge in their area of practice, which can be beneficial when it comes to managing rental properties. Certifications may also provide access to additional professional development opportunities, such as continuing education courses and conferences. By having certifications, a residential property manager can show potential employers that they are committed to staying up-to-date on industry trends and best practices.

This article reviews and explains the benefits of some of the top certifications for Residential Property Managers, providing an overview of how they can help advance a residential property manager's career.

What are Residential Property Manager Certifications?

Residential property manager certification is a professional certification that validates the skills and knowledge of those who manage residential properties. This certification is offered by several organizations, such as the Institute of Real Estate Management (IREM) and the National Association of Residential Property Managers (NARPM). The certification process typically includes an extensive exam that tests a candidate's knowledge on topics such as tenant screening, fair housing laws, budgeting and financial management, marketing and leasing strategies, maintenance and repair procedures, dispute resolution, risk management practices, and legal compliance.

Having a residential property manager certification can provide many benefits to individuals in this field. For starters, it serves as proof that they have achieved a high level of expertise in their field. It also demonstrates their commitment to professionalism and dedication to providing quality services for clients. In addition, it shows potential employers or clients that they are up-to-date on industry trends and regulations. Finally, having this credential can open up opportunities for career advancement or higher wages due to its recognition among other professionals in the industry.

Pro Tip: Before you pursue a residential property manager certification, make sure you have the necessary education and experience to qualify. Also, research your state’s requirements for licensing in order to ensure that the certification is applicable in your area.

Related: What does a Residential Property Manager do?

Top 10 Residential Property Manager Certifications

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

1. Certified Residential Property Manager (CRPM)

Certified Residential Property Manager (CRPM) is a professional certification program designed to recognize the knowledge and experience of residential property managers. It is offered by the National Association of Residential Property Managers (NARPM).

To become certified, applicants must have at least two years of full-time experience in residential property management, be a member of NARPM, and complete an approved training program. The training program consists of six courses covering topics such as tenant relations, leasing and marketing, financial management, maintenance and risk management.

The cost for the CRPM certification program varies depending on the number of courses taken. Generally speaking, it costs around $2,000 for all six courses. The courses can be taken online or in person at various locations across the country.

It typically takes about four months to complete the CRPM certification program. Once completed, applicants will receive their CRPM designation and will be eligible to use the “CRPM” designation after their name.

2. Certified Apartment Manager (CAM)

Certified Apartment Manager (CAM) is a credential that is awarded to professionals in the apartment management industry. It is an internationally recognized certification and demonstrates a level of expertise and commitment to professional standards. The CAM designation is awarded by the National Apartment Association (NAA).

In order to obtain the CAM designation, candidates must complete a rigorous training program and pass an examination administered by NAA. The program consists of four courses: Property Management Essentials, Financial Management for Property Managers, Legal Aspects of Property Management, and Human Resources for Property Managers. The program typically takes about 6-12 months to complete depending on the individual's schedule and availability.

The cost for the CAM program varies based on the number of courses taken and whether or not you are an NAA member. Non-members can expect to pay approximately $1,000 per course while members will receive discounted rates.

Once candidates have completed their courses and passed their examinations they will be awarded their Certified Apartment Manager (CAM) designation from NAA. This certification demonstrates a high level of knowledge in property management and can help individuals advance their career in this field.

3. Certified Professional Property Manager (CPPM)

Certified Professional Property Manager (CPPM) is a certification program offered by the Institute of Real Estate Management (IREM). The CPPM designation is designed to recognize property managers who have achieved a level of excellence in their profession. It is the highest credential available for property management professionals and demonstrates an individual’s commitment to professional growth and development.

To obtain the CPPM designation, individuals must first meet the eligibility requirements, which include having at least three years of experience in real estate management or related fields, as well as being an IREM member in good standing. Once these requirements are met, applicants must then pass two examinations: the Principles & Practices of Real Estate Management and the Financial Analysis & Decision Making for Real Estate Managers exams.

The Principles & Practices exam covers topics such as legal issues, tenant relations, financial analysis and decision-making, asset management, and environmental sustainability. The Financial Analysis & Decision Making exam focuses on topics such as budgeting, accounting principles, capital markets, risk management and investment analysis.

The cost to obtain the CPPM designation varies depending on whether or not you are already an IREM member. For non-members, it costs $1,000 to apply for the program plus another $1,000 for each exam that needs to be taken. For members of IREM it costs $500 to apply plus $500 for each exam that needs to be taken.

It typically takes around six months from start to finish to complete all of the requirements necessary for obtaining the CPPM designation; however this timeline can vary depending on individual circumstances.

4. Certified Real Estate Property Administrator (CRPA)

Certified Real Estate Property Administrator (CRPA) is a professional designation offered by the Institute of Real Estate Management (IREM). The CRPA designation is designed to recognize and reward those who have achieved a high level of excellence in real estate property management.

The CRPA designation requires applicants to pass an exam that covers the principles and practices of real estate property management, including budgeting, financial analysis, tenant relations, marketing, leasing and legal issues. In addition to passing the exam, applicants must also have at least two years of experience in real estate property management.

The exam takes approximately four hours to complete and can be taken either online or in person at one of IREM's testing centers. The cost for the exam is $299 for members of IREM and $399 for non-members. Once you have passed the exam, you will receive your CRPA certification from IREM.

The CRPA designation is valid for three years and must be renewed every three years by completing continuing education credits. Renewal fees are $200 for members and $250 for non-members.

5. National Association of Residential Property Managers (NARPM) Designation

The National Association of Residential Property Managers (NARPM) Designation is a professional credential that recognizes the expertise and knowledge of residential property managers. The designation is awarded to individuals who have completed a comprehensive training program and demonstrated their commitment to the highest standards of professionalism in the field.

To obtain the NARPM Designation, individuals must complete a series of courses that cover topics such as rental laws, tenant relations, marketing and leasing, maintenance and repair, accounting and financial management, and risk management. The courses are offered online or in person at various locations across the country. Upon successful completion of all course requirements, applicants must pass an exam to earn the designation.

The cost for obtaining the NARPM Designation varies depending on how many courses are taken and if they are taken online or in person. Generally speaking, it can cost anywhere from $500 to $2,000 for tuition alone. Additional fees may also apply for textbooks or materials needed for the courses.

In total, it typically takes between six months to one year to earn the NARPM Designation after completing all course requirements and passing the exam.

6. Accredited Residential Manager (ARM)

Accredited Residential Manager (ARM) is a professional designation that recognizes the expertise of residential property managers. It is awarded by the Institute of Real Estate Management (IREM). To become an ARM, one must demonstrate knowledge and experience in all aspects of residential property management, including legal and financial responsibilities.

The process to become an ARM takes approximately six months to complete. The first step is to meet the eligibility requirements, which include having two years of full-time residential property management experience and completing IREM's online application. Once accepted into the program, candidates must pass a comprehensive exam that covers topics such as tenant relations, marketing strategies, financial analysis, risk management, and more.

The cost to become an ARM varies depending on whether you are already an IREM member or not. For non-members, it costs $495 for the application fee plus $395 for each exam module taken. For IREM members, it costs $395 for the application fee plus $295 for each exam module taken.

Overall, becoming an Accredited Residential Manager can be a great way to demonstrate your expertise in residential property management and increase your earning potential in this field.

7. Real Estate Management Professional (REMP)

Real Estate Management Professional (REMP) is a professional designation that recognizes the expertise of individuals in the real estate management industry. It is awarded by the Institute of Real Estate Management (IREM), an international organization dedicated to advancing the profession of real estate management.

To become a REMP, individuals must complete IREM’s rigorous education and experience requirements. This includes completing at least three IREM courses, having two years of full-time experience in the field, and passing an examination. The courses are offered online or through classroom instruction and typically take between four to six months to complete.

The cost for becoming a REMP varies depending on whether you choose to take the courses online or in person, as well as other factors such as your location. Generally speaking, it can cost anywhere from $1,000-$2,500 to become a REMP.

Once you have completed all of the requirements for becoming a REMP, you will receive your certificate from IREM and be recognized as a Real Estate Management Professional.

8. Institute of Real Estate Management's Certified Manager of Housing (CMH)

The Certified Manager of Housing (CMH) is a professional certification offered by the Institute of Real Estate Management (IREM). It is designed to recognize individuals who have demonstrated their knowledge and experience in the management of residential properties. The CMH certification is intended for those who are currently employed as property managers, or who are aspiring to become property managers.

The CMH certification requires applicants to pass an exam and complete a set number of hours of continuing education. The exam consists of 100 multiple-choice questions that cover topics such as tenant relations, budgeting, legal issues, maintenance and operations, marketing, and more. The exam must be taken at an approved testing center.

It typically takes between six months and one year to prepare for the CMH exam. During this time, applicants should familiarize themselves with the IREM body of knowledge and take courses or seminars related to property management. They should also read relevant books and articles on the subject matter.

Once applicants have prepared sufficiently for the exam, they can register online through IREM's website and pay the $375 fee for the exam. After registering, they will receive instructions on how to locate an approved testing center near them where they can take the exam.

Upon successfully passing the CMH exam, applicants will be awarded their certification from IREM. This certification is valid for three years after which time it must be renewed by completing additional continuing education hours or retaking the exam.

9. National Apartment Association's Certified Apartment Portfolio Supervisor (CAPS)

The National Apartment Association's Certified Apartment Portfolio Supervisor (CAPS) is a professional certification program that provides apartment industry professionals with the knowledge and skills necessary to successfully manage a portfolio of rental properties. The CAPS certification is designed to recognize those who have achieved a high level of expertise in the field of apartment portfolio management.

The CAPS certification requires applicants to complete an online course, take an exam, and demonstrate their understanding of the principles and practices of apartment portfolio management. The course consists of five modules covering topics such as tenant relations, financials, marketing and leasing, operations, and legal issues. Upon successful completion of the course and exam, applicants receive their CAPS designation.

It typically takes about three months to complete the coursework and exam for the CAPS certification. Applicants must register for the program through NAA’s website and pay a fee of $395 for members or $495 for non-members. Once registered, applicants will receive access to the online course materials as well as additional resources such as study guides and practice exams.

Once applicants have completed all requirements for the CAPS certification they will be awarded their certificate by mail within one month after passing their final exam. Additionally, applicants may also choose to purchase additional recognition items such as lapel pins or plaques from NAA’s online store at an additional cost.

10. National Association of Home Builders' Certified Professional Property Manager Program (CPPMSM).

The National Association of Home Builders’ Certified Professional Property Manager Program (CPPMSM) is a professional certification program that recognizes individuals who have demonstrated the knowledge and experience necessary to manage residential rental properties. The CPPMSM certification is designed to provide property owners, investors, and other stakeholders with assurance that their property manager has the expertise to effectively manage their investments.

To become certified as a CPPMSM, applicants must complete a comprehensive course of study that covers topics such as tenant relations, legal issues, budgeting and accounting, marketing and leasing, maintenance and repair, fair housing laws, and more. The course can be completed either in-person or online depending on the individual’s preference. The program requires approximately 80 hours of instruction time in order to complete all modules.

In order to qualify for the CPPMSM certification program, applicants must meet certain prerequisites including having at least two years of verifiable property management experience or completion of an accredited real estate management program. Additionally, applicants must pass an exam administered by the NAHB Research Center which consists of 150 questions covering various aspects of residential property management.

The cost for the CPPMSM certification program varies depending on how it is taken; however it typically ranges from $400 - $600 USD. This fee includes access to all course materials as well as the exam fee. Upon successful completion of the exam and submission of all required documentation, applicants will receive their official CPPMSM certificate from the NAHB Research Center.

Do You Really Need a Residential Property Manager Certificate?

Whether or not you need a residential property manager certificate depends largely on the type of job you are seeking. In some cases, having a residential property manager certificate may be beneficial, while in other cases it may not be necessary.

For example, if you are looking to work as an apartment complex manager or for a large multi-family housing corporation, then having a residential property manager certificate can help you stand out from other applicants. It demonstrates that you have the knowledge and skills necessary to successfully manage properties and tenants. Employers may also appreciate that you have taken the time to obtain this certification as it shows commitment and dedication to your chosen profession.

On the other hand, if you are looking for a more entry-level position such as an assistant property manager or leasing agent, then having a residential property manager certificate may not be necessary. In these positions, employers typically look for individuals who have basic knowledge of the industry and good customer service skills.

Ultimately, whether or not obtaining a residential property manager certificate is worthwhile will depend on your individual goals and career aspirations. If having the additional certification could help boost your chances of landing your dream job, then it might be worth pursuing. However, if your current experience and skillset make you qualified for certain positions without the certification, then it may not be necessary.

Related: Residential Property Manager Resume Examples

FAQs About Residential Property Manager Certifications

1. What is a Residential Property Manager Certification?

Answer: A Residential Property Manager Certification is a professional certification that demonstrates expertise in the management of residential properties. It involves completing courses and exams to demonstrate knowledge of the principles and practices of residential property management, including financial management, marketing, legal aspects, tenant-landlord relations and more.

2. What are the benefits of obtaining a Residential Property Manager Certification?

Answer: Obtaining a Residential Property Manager Certification can provide career advancement opportunities, increased job security and higher wages. It also demonstrates knowledge and experience in the field of residential property management which can attract potential clients or employers.

3. Who should consider obtaining a Residential Property Manager Certification?

Answer: Anyone who is currently working in or interested in entering the field of residential property management should consider obtaining a Residential Property Manager Certification. The certification will demonstrate knowledge and experience in the field which may be beneficial for career advancement or job security.

4. How do I obtain a Residential Property Manager Certification?

Answer: To obtain a Residential Property Manager Certification you must complete approved courses and exams to demonstrate knowledge of the principles and practices of residential property management. Courses may include financial management, marketing, legal aspects, tenant-landlord relations and more depending on the program you choose to take.

5. How long does it take to obtain a Residential Property Manager Certification?

Answer: The length of time to obtain a Residential Property Manager certification varies depending on the program you choose to take but typically it can be completed within 6 months up to 2 years depending on whether you choose an online or in-person program as well as how quickly you complete your coursework and exams.