Transcript IREM Student Outreach

A Career in
Property
Management
What Is A Property Manager?
• A property manager is someone who
– Maintains and manages property according to the
goals of ownership
– Oversees property for an owner or group
– Personally interacts with residents and tenants to
ensure satisfaction and renewal
– Prepares financial statements and budgets of property
– Manages employees and contractors
– Ensures property is safe, marketable, and up-to-code
Property Manager Duties
Risk
Management
Mediation
Marketing &
Advertising
Negotiations
Project
Management
Sales/Leasing
Legal
Legislative
Property
Manager
Human
Resources
Environmental
Accounting
Customer
Service
Technology
Research
Who Is Property Management for?
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Dynamic individuals
Calm under pressure
Strong communication skills
Ideal for persons with a degree in
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Property Management
Real Estate
Business
Finance
Accounting
Hospitality
Properties Managed
• Residential Properties
• Commercial and
Industrial Properties
– Shopping centers, retail
properties, malls
– Office buildings
– Research parks
– Industrial properties
– Airports, marinas
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Apartments
Student housing
Public housing
Condominiums
Military housing
Senior housing
Employers of Property Managers
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Property management firms
Full-service real estate companies
Commercial banks
Government agencies
Insurance companies
Private investors
Corporations
Real estate investment trusts (REITs)
Property Management Positions
Management Company
Executive
Asset Manager
Regional Manager
Property Manager
Site Manager
What is IREM®?
• The Institute of Real Estate Management (IREM®) is an international
community of real estate managers across all property types
dedicated to ethical business practices and maximizing the value of
investment real estate.
– 19,000 individual members
– 500 company members
– 80 U.S. chapters
– 13 international chapters
How Can IREM® Help You
Early in Your Career?
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Student Membership
Associate Membership
IREM young professionals
Chapter involvement
Education
How Can IREM® Help You
Throughout Your Career?
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Local chapters
Networking events
National conferences
Publications
Journal of Property Management
Online job board - free to job seekers
IREM® Credentials
Education
Experience
Ethics
Education: Fast-Track Degree Options
CPM Education Requirement
Option 1: IREM Education
Option 2: Fast Track Other
Credentials
•MKL404,MKL405,or
MKL406
•MNT402
•HRS402
•FIN402
•ASM603
•ASM604
•ASM605
Option 3: Fast Track Real
Estate Degree
•Have and hold at the time
of application an RPA,
CCIM, CSM, or PCAM
•Have an undergraduate
or graduate degree
(major, minor, or
concentration) in real
estate or property
management
Option 4: Fast Track
Professional Experience
•Professional Experience
•Have 20 years of qualifying
professional experience
ARM Education Requirement
Option 1
Option 2
•Complete IREM’s
RES201 or CID201
course
Option 3
•Complete these IREM
courses:
•MNT402
•HRS402
•FIN402
•MKL405
•Hold a CPM, CAM,
CRM, or RAM
designation
ACoM Education Requirement
Option 1
•Complete all of these
IREM courses:
•MNT402
•HRS402
•FIN402
•MKL405
Option 2
•Hold a CPM, CPM,
CCIM, CSM, PCAM or
RPA designation
Option 3
•Have an associate,
undergraduate or
graduate degree
(major, minor, or
concentration) in
real estate or
property
management
Option 4
•Have an associate,
undergraduate or
graduate degree
(major, minor, or
concentration) in real
estate or property
management
CPM
CERTIFIED PROPERTY MANAGER
For individual real estate and asset managers working
with large portfolios of all property types residential,
commercial, retail and industrial.
REQUIREMENTS TO EARN THE DESIGNATION ARE:
• Education – through IREM® courses or through a fast-track option
• Experience –36 months real estate management experience
• Ethics – promise to uphold the IREM® Code of Professional Ethics and
pass the IREM® ethics course
• Examination – Management plan and CPM exam
ARM 
ACCREDITED RESIDENTIAL MANAGER
For managers of residential portfolios, including
conventional apartments, federally assisted housing,
public housing, condominiums, university housing,
homeowners’ associations and manufactured home
communities.
REQUIREMENTS TO EARN THE CERTIFICATION ARE:
• Education – through IREM® courses or fast track option
• Experience – one year of residential property management
experience
• Ethics – promise to abide by the IREM® Code of Professional Ethics
and complete ethics education
• Examination – ARM exam
ACoM
ACCREDITED COMMERCIAL MANAGER
For commercial site managers of office buildings, retail
properties, industrial and other commercial properties.
REQUIREMENTS TO EARN THE CERTIFICATION ARE:
• Education – through IREM® courses or fast-track option
• Experience – one year of commercial property management
experience
• Ethics – promise to abide by the IREM® Code of Professional Ethics
and complete ethics education
• Examination – ACoM exam
Property Management Compensation
Compensation depends on . . .
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Type of property managed
Size of portfolio and scope of responsibility
Type of employer
Length of time in the business
Geographic market
What IREM Members Earn
IREM – CPM MEMBERS AVERAGE
COMPENSATION BY YEARS OF EXPERIENCE
IREM – ARM MEMBERS AVERAGE
COMPENSATION BY YEARS OF EXPERIENCE
Years of
Experience
Salary
Total
Compensation
Years of
Experience
Salary
Total
Compensation
1-9
$81,592
$99,898
1-3
$48,050
$50,226
10-13
$84,021
$98,146
4-6
$51,289
$55,221
14-20
$100,013
$113,135
7-10
$51,651
$56,078
21+
$123,266
$154,052
11-15
$52,128
$57,528
16-20
$67,616
$71,792
21+
$72,735
$77,971
Source: Institute of Real Estate Management.
CPM Compensation Study, 2012 Edition
Source: Institute of Real Estate Management.
ARM Compensation Study, 2012 Edition
QUESTIONS?
Visit our website:
www.IREM.org