Real Estate Management – The Benefits of Being a CPM

Certified Property Management is a legitimate, real estate professional certification given by the American Institute of Certified Public Accountants (AICPA). This credential is used to distinguish those who are certified property managers from those who are not. This distinction also provides opportunities for those who wish to become a certified property manager and who desire to further their education and training in real estate management.

To become a Certified Property Management (CPM) the individual must pass a rigorous review process that is administered by a qualified, independent certified public accountant. To be accredited a CPM is usually required to have at least five years of experience as a licensed real estate agent or property manager, be an active member of the National Association of Professional Property Managers (NAPM), be a member of the National Center for Property Management, and submit to a background check.

Most states, including California, require that all state-licensed public accountants be licensed to practice in that state. Because of the high level of licensing required to become a Certified Property Management, many who decide to become a CPM will opt to work as an independent contractor. This can provide them with the experience they need to get a CPM certification but without having to adhere to strict state laws that govern the profession of CPM.

Many people become Certified Property Management because they have experience working as a property manager. Becoming a property manager can be both very fulfilling and very stressful and being a licensed property manager, requires the person to undergo rigorous training and certification to ensure the skills learned are applicable to the field of real estate management. The benefits of becoming a Certified Property Management include a higher paying salary, more freedom to manage your business and a variety of other benefits and perks.

While most individuals enter the private sector first to gain the experience they need to become a CPM, there are some who seek out this certification later in their careers. A number of people enter the private sector through real estate investing in order to make their living by purchasing real estate. As these individuals gain experience and expertise, they may eventually decide to take on more responsibility for the management and operations of their real estate investment company.

There are many benefits and advantages to becoming a Certified Property Manager. The benefits of being a CPM includes higher pay, less paperwork and greater flexibility in managing your business. The costs associated with becoming a CPM generally include a higher starting salary, insurance and benefits, more vacation time, and the ability to choose the type of business or career you wish to pursue, fewer headaches and responsibilities.

To become a Certified Property Manager, there are a variety of requirements needed to obtain this license. The requirements vary from state to state and can differ based on the industry you choose to specialize in. In order to become a CPM, one needs to complete an extensive review process, pass an interview and pass the state’s licensing requirements. Once approved, the state agency will review your resume and send you a certification card.

To become a Certified Property Management, one must complete a state-mandated exam. There are three basic requirements to become a certified property manager; the exam must be passed, must have worked in real estate for at least five years, and must be registered with a state licensed professional association. The credential is considered valid when it is endorsed by a recognized, nationally-recognized association.

Most states require certified property managers to take an examination once they are hired. This examination is administered by the state agency that regulates the state’s real estate professionals. After passing the state exam, a license is issued. It is important to read and understand the CMP’s handbook, as it provides information on how to properly carry out job duties, what documentation to provide to the state and how to prepare and present your work to the state. The CMP’s handbook also contains details on all the various regulations of the state agency has to follow to ensure your license stays current.

Because of the amount of competition that exists today, many states require applicants to take an examination even before they apply to become a licensed to work in the state. By taking the exam and passing the state exam, one can demonstrate that they have sufficient knowledge of the industry to manage a property in the state they wish to practice their trade in.

Becoming a real estate investor requires one to have the proper education, skills, and experience in order to be successful in the field. Becoming a Certified Property Manager requires the same level of knowledge, training, and experience as any other professional license in the real estate industry. The benefits are well worth the time and effort it takes to become a licensed real estate manager.