Does a Property Manager Need to Be Certified?
Property managers manage investment properties on behalf of the property owners. The property owners use the benefits of investment properties to generate income. Common examples of investment properties include apartment complexes, office buildings and industrial properties. Property managers oversee the overall management operations of investment properties to ensure that the property owners receive a return on their investment. Also, property managers may handle other property issues, such as building maintenance, equipment repairs and handling tenant complaints.
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Scope
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As a whole, property managers aren't generally required to obtain a certification as a property manager to acquire employment. Real estate managers, however oversee the sale and purchase of properties on behalf of real estate investors and are required to maintain a state license if required by the state. Additionally, property managers of government-subsidized public housing are required to be certified. Although community colleges and technical schools often offer certification courses in property management, on-site property managers are usually only required by employers to have work experience, specific educational knowledge or a college degree in business administration or a related field, such as real estate management. However, the qualifications for property management positions may vary by employer.
Experience
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There are various pathways to property management positions. Employers may prefer to hire real estate sales agents. Additionally, certain individuals become property managers by first gaining experience as assistants to property managers.
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Education
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Employers often choose to hire individuals for property management positions who have a certain amount of knowledge in general business practices and property rental laws. Graduates of property management educational programs at community colleges and technical schools earn certificates for the completion of property management courses, featuring topics such as residential property law, commercial property law, property advertising, property advertising and building compliance codes.
NPMA Certification
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Although property management positions often don't require certification, obtaining a property management certification enhances the experience and qualifications of a property manager. Organizations such as the National Property Management Association, or NPMA, offer certification programs for property managers. Applicants are required to meet certain experience qualifications and pass a test to obtain their certification. The eligibility requirements may vary depending on the certification programs.
Employment Outlook
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According to the Bureau of Labor Statistics, property, real estate and community association managers held 304,100 jobs in 2008 and are expected to hold 329,700 by 2018. Additionally, the Bureau of Labor Statistics reveals that property, real estate and community association managers earned median annual wages of $46,130 in 2008.
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References
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