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 Marketing & Advertising Legal Legislative Environmental Accounting Technology Research Customer Service Human Resources Sales/Leasing Project Management Negotiations Mediation Property Manager

Who Is Property Management for? Dynamic individuals Calm under pressure Strong communication skills Ideal for persons with a degree in – Property Management – Real Estate – Business – Finance – Accounting – Hospitality

Properties Managed Commercial and Industrial Properties – Shopping centers, retail properties, malls – Office buildings – Research parks – Industrial properties – Airports, marinas Residential Properties – Apartments – Student housing – Public housing – Condominiums – Military housing – Senior housing

Employers of Property Managers 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 Site Manager Property Manager Regional Manager Asset Manager Management Company Executive

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? How Can IREM ® Help You Early in Your Career? Student Membership Associate Membership IREM  young professionals Chapter involvement Education

How Can IREM ® Help You Throughout Your Career? Local chapters Networking events National conferences Publications Journal of Property Management Online job board - free to job seekers

Education Experience Ethics IREM ® Credentials

Option 1: IREM Education MKL404,MKL405,or MKL406 MNT402 HRS402 FIN402 ASM603 ASM604 ASM605 Option 2: Fast Track Other Credentials Have and hold at the time of application an RPA, CCIM, CSM, or PCAM Option 3: Fast Track Real Estate Degree 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 Education: Fast-Track Degree Options Option 1 Complete IREM’s RES201 or CID201 course Option 2 Complete these IREM courses: MNT402 HRS402 FIN402 MKL405 Option 3 Hold a CPM, CAM, CRM, or RAM designation Option 4 Have an associate, undergraduate or graduate degree (major, minor, or concentration) in real estate or property management ARM Education Requirement CPM Education Requirement 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

CPM  C ERTIFIED P ROPERTY M ANAGER  CPM  C ERTIFIED P ROPERTY M ANAGER  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  A CCREDITED R ESIDENTIAL M ANAGER  ARM  A CCREDITED R ESIDENTIAL M ANAGER  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 A CCREDITED C OMMERCIAL M ANAGER ACoM A CCREDITED C OMMERCIAL M ANAGER 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... 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 Source: Institute of Real Estate Management. CPM Compensation Study, 2012 Edition Source: Institute of Real Estate Management. ARM Compensation Study, 2012 Edition Years of Experience Salary Total Compensation 1-9$81,592$99, $84,021$98, $100,013$113, $123,266$154,052 IREM – CPM MEMBERS AVERAGE COMPENSATION BY YEARS OF EXPERIENCE IREM – ARM MEMBERS AVERAGE COMPENSATION BY YEARS OF EXPERIENCE Years of Experience Salary Total Compensation 1-3$48,050$50, $51,289$55, $51,651$56, $52,128$57, $67,616$71, $72,735$77,971

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