What type of training is required to be a property manager?
According to the Bureau of Labor Statistics, property, real estate and community association managers benefit most from degrees in business administration, real estate or related fields1; however, many colleges and universities have started to offer two or four year programs in real estate property management in their business or liberal arts programs. Still, the most widespread form of property management training appears to come from online, distance learning and correspondence training courses.
Most full property management training programs cover a variety of interrelated subjects ranging from: how to assess and choose real estate investments; the preparation of leasing terms and conditions; and daily administrative processes; to overviews of complete fiscal and operational duties. Whether from a four year program, online education course, or certification program, general areas of study include the following: financial and property analysis, marketing, leasing, tenant relations, human resources, legal forms, operations and procedures, and maintenance.
There are countless online programs that offer complete property management training for interested individuals, or specific classes designed as continuing education options for current managers and business professionals. These programs and classes can last anywhere from one day to over a year and can often be completed in the candidate"s spare time. A wide array of professional designations are also available from organizations like the Institute of Real Estate Management (IREM), the National Apartment Association (NAA), The Community Associations Institute (CAI), the Building Owners and Managers Association (BOMA), and the National Association of Residential Property Managers (NARPM).
Property management training comes in many forms allowing candidates to pick the one best suited to his or her situation. With the need for property managers expected continue its robust growth, certification and training will help managers stand out from the crowd.
