Why Choose a CPM® to Manage Your Commercial Property?
By Wendy Barrett CPM® , Director of Property Management, Bentley Property Services, LLC
A Certified Property Manager (CPM®) is a professional manager of real estate who has met the stringent standards of the Institute of Real Estate Management (IREM®) in order to obtain their designation. IREM®, founded by a group of professionals concerned with establishing ethical standards of practice for property management, is an affiliate of the National Association of REALTORS®. IREM® has provided education, resources, and membership for real estate management professionals for more than 70 years. To qualify as a CPM®, the property manager must meet the experience, educational, and ethical requirements of IREM®.
It takes years to fully understand the different elements of the operations of properties; therefore, IREM® requires that the commercial property manager have a minimum of three years experience managing any combination of commercial properties such as office, retail, and industrial buildings. The buildings must also meet minimum size requirements, and the property manager must perform certain functions for these properties in order to qualify for credits towards the CPM® designation. Seventeen of 35 functions must be met such as overseeing operations of building systems and preventative maintenance programs, performing regular property inspections, and overseeing financial operations of the property.
IREM® also requires that the property manager meet their educational requirements by offering a curriculum of seven courses concentrating on property management functions. With the educational offerings, the property manager learns the most effective way to manage the property in terms of physical appearance and functionality, as well as, financial growth. Once all educational requirements are met, the property manager must pass the certification exam and complete a detailed management plan to ensure the complete understanding of all property needs. But the educational offerings do not stop there — IREM® offers seminars, courses, and publications to encourage their members to stay aware of the latest advancements in the field.
The CPM® must also adhere to the Code of Professional Ethics established by IREM. This code was created to establish and maintain public confidence in the honesty, integrity, professionalism and ability of the property manager. By abiding to the code, the CPM® is benefiting not only the property owner, but other real estate professionals, organizations, clients and customers. Recognizing the need for fair and equitable practices of all in the property management field is critical to the CPM®.
The founders of IREM® realized property owners were having difficulty identifying qualified managers from those who were not. IREM® undertook the challenge to ensure individuals who hold the CPM® designation have personally demonstrated their ability through experience, education, and proven standards of integrity and ethics. In understanding and recognizing the standards held by the CPM®, property owners can have peace of mind knowing that their property is being managed by the most qualified individuals.
Wendy Barrett has earned the CPM® designation and would like to talk with you about your commercial property…give you some personalized suggestions and information about managing your property in a manner that would be beneficial to you, the owner. Whether you lease, own, invest, develop, sell—with Bentley Commercial (an affiliate of Corfac International) and Bentley Property Services, you will find an expert team committed to you, and your short and long-term commercial real estate success.
