home | contact us | disclaimer  

Real Estate Management: Property Management Training, Real Estate Property Management School, Certified Property Manager, Property Management Career and Courses

The real estate industry is a profitable business for many investors and homeowners, but requires the professional expertise of a real estate management group to oversee operations. A certified property manager is commonly a part of a real estate management team, and can help to coordinate all financial and administrative operations of real estate investments. Property managers are often involved with rent collection, mortgages, insurance, payroll, and adhering to community guidelines. Property management training can provide prospective real estate managers and apartment managers with skills and experience for a long-term career.

Job Description and Responsibilities of a Property Manager

A certified property manager can work independently to work in daily operations, or serve as part of a real estate management team as a liaison. Property managers that work onsite are often involved with owners of different properties and their tenants. Some property manager may also serve on real estate management boards to work with projects concerning financial planning, asset management, and resident regulations. The most common responsibilities for a certified property manager are:

  • Working with community association managers
  • Complying with provisions of the Federal Fair Housing Amendment Act and local fair housing laws
  • Ensuring that all renting practices are not discriminatory
  • Making sure the property complies with local, state, and national laws
  • Inspecting grounds and facilities
  • Enforcing rental regulations and guidelines
  • Initiating lease agreements
  • Serving as the liaison between owners and the real estate management team
  • Marketing and advertising the property
  • Providing asset management reports to real estate management supervisors and committees
  • Showing apartments or homes to prospective tenants
  • Working with building engineers, janitorial departments, and maintenance services

Real Estate Management and Property Management Career Options

Property management training can prepare students for a rewarding career in real estate property management and related fields. Although certification is not always required, a certified property manager can grow in the business to pursue managerial and supervisory opportunities. Real estate property management courses can lead to a career in:

  • Real estate firms

  • Community association management companies

  • Civic groups

  • Real estate director positions

  • Property supervising offices

  • Real estate sales

  • Real estate marketing firms

  • Cooperatives

Common positions for those who attend property management school include:

  • Assistant Property Manager
  • Community Association Manager
  • Portfolio Manager
  • Marketing Director
  • Onsite Manager
  • Real Estate Lawyer
  • Real Estate Asset Manager

Training Required for a Property Management Career

A property management career requires formal training at a 2-year or 4-year educational institution. Property management courses are available through many business and liberal arts programs, and the field is becoming a highly attractive career choice that can lead to a long-term career. Some students of a property management school choose to run their own business immediately after graduation, while others choose a steady career path in the field of apartment management.

Property management training encompasses a variety of courses to provide a well-rounded education. Students interested in business, administration, and real estate will enjoy a career in this profession.  Real estate property management school courses are designed to cover the key areas in the field, and provide students with ands-on experience with simulations and sample transactions. Common courses within a property management training program include:

  • Property Analysis

  • Tenant Relations

  • Managing Commercial Property

  • Leases

  • Forms and Administration

  • Legal Issues in Property Management

  • Marketing

  • Economics of Property Management

  • Apartment Management Operations and Procedures

  • Systems and Reports

Becoming a Certified Property Manager

A successful real state investment career may require property management certification. In order to receive CPM (Certified Property Manager) status, students must complete a series of courses offered by the Institute of Real Estate Management (IREM). The eight courses required are:

  • Marketing and Leasing:  Retail Properties
  • Human Resource Essentials for Real Estate Managers
  • Property Management and Risk Management
  • Investment Real Estate:  Financial Tools
  • Investment Real Estate Financing and Valuation-Part 1
  • Investment Real Estate Financing and Valuation-Part 2
  • Investment Real Estate Financing and Valuation-Part 3
  • Property Management Plans:  The IREM Model

In addition to completing the necessary property management courses, students must attend and pass the exam for Ethics for the Real Estate Manager. This requires ongoing adherence to the IREM Code of Professional Ethics. The CPM Certification Exam can then be taken with an independent proctor from any location.  Key areas of competency covered for certification include:

  • Human resource management

  • Asset management

  • Legal and risk management

  • Marketing and leasing

  • Financial operations

  • Maintenance and operations

Property Management Training Programs

Property management training can be completed through an online education, independent study, or at a formal property management school. The field of real estate management is diverse, and includes many business and administration courses as well. Most employers choose to hire graduates who have completed an education in real estate, finance, public administration, or business. Qualification requirements vary depending on the field of interest.

Property Management Career Potential and Employment Prospects

Job opportunities for property managers, real estate management companies, and community association managers are expected to grow as fast as average through 2014. The real estate industry is growing with increased housing options, renovations, and conversions. While the national stock of homes increases, the demand for professional real estate management companies and the well-educated, certified property manager are also expected to rise. Apartment management is becoming an attractive industry for those with a basic business or real estate degree. Median annual salaries of real estate managers were $39,980 in 2004.  Related occupations include: 

  • Administrative services managers

  • Education administrators

  • Lodging managers

  • Real estate brokers

  • Regional planners

  • Health services managers


Back to Real Estate Management: Property Management Training, Real Estate Property Management School, Certified Property Manager, Property Management Career and Courses