When you're working in rental property management, your customers need to know that you are competent, trustworthy, and outstanding at customer service. While word of mouth is a huge asset to your business, other customers place more stock in professional property management certifications and memberships. These certifications show your clients how you're striving to improve your skills and get support to meet their needs.
Local Real Estate Broker Licenses for Rental Property Management
Your licensing and certification journey begins at the local level since you need to acquire the licenses you need to do business in your state. Even if you're not in the business of selling real estate, many states require that you hold a real estate broker license if you're in the business of collecting rent, listing residential property, or negotiating leases. In some states such as Vermont, Idaho, and Maine, you don't need a real estate license. Others such as Oregon, South Carolina, and Montana allow property managers to work with with a license in property management. All of these licenses are given out by state or local authorities, so you should check to see which licenses are applicable to your area.
The National Association of Residential Property Managers
If you'd like to upgrade your education and obtain a national property management certification, consider applying to one of the programs at the National Association of Residential Property Managers (NARPM). Joining a professional association not only shows that you're committed to professional growth, it also provides you with a group of other people who know your challenges and can help you with questions and concerns. The National Association of Residential Property Managers can help you pursue your education through online and in-person courses, webinars, and conferences. There's also a support staff membership option so that your administrative and other support staff can pursue professional development. At the NARPM, you can also receive certifications such as the Residential Property Manager, Master Property Manager, Certified Support Specialist, or Certified Residential Management Company certification.
The Institute of Real Estate Management
There are opportunities for certification at the international level as well. At the International Institute of Real Estate Management, you can acquire credentials as a certified property manager, accredited residential manager, an accredited commercial manager, or an accredited management organization. You also have access to professional development courses, webinars, weekly information emails, and the Journal of Property Management. With a large number of members around the world, you know that there are resources that can help answer your questions and find solutions. Receiving new credentials or renewing your existing ones is a sign to your clients that you're seeking ongoing education and that you want to stay up to date on the issues that are relevant to your field.
Use Property Management Certifications to Upgrade Education Quickly
Property management certifications can be a way to upgrade without returning to school. In an article in Forbes, Panos Mourdoukoutas states that, "Certificate holders earn anywhere between 15% to 62% percent more than non-certificate holders, provided that the certificate is from a legitimate school and program accredited by nationally recognized organizations; and the holder works in an occupation related to the certificate."
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