Do you enjoy networking, learning, and growing your property management business?
If your answer is yes, then it’s time for you to think about joining property management associations. Joining a property management association gives you access to training, certifications, and conferences.
All of which grow your skills and give you the chance to meet new people in your industry.
But it doesn’t end there. Many property management associations keep you up-to-date on the latest news and changes in regulations. You’ll learn about new technologies that can simplify your work tasks and cut your business’s costs.
There are many associations out there and some have more resources than others. There are several large associations that cover the genal parts of property management.
Then others cater to particular niches in the industry. Those who are in a specific niche in property management may want to consider more specific associations.
Learn how these 4 property management associations can broaden your knowledge and boost your business.
The Benefits of Property Management Associations
Property management associations are organizations designed to support professionals in the property management industry. The goal of these associations is to offer resources and promote the property manager’s interests.
These associations come in all shapes and sizes. You can find them at local, state, and national levels. All offering a range of benefits and resources for you to use.
The catch is you have to get a membership to join. Once you have a membership, you can enjoy education, conferences, and networking opportunities. The organizations offer lobbying representation at local and national levels.
Educational opportunities come in many forms. As a member, you can partake in workshops, seminars, and training to achieve professional certifications.
Conferences vary from local chapters to national large-scale conferences. Attending both offers you the ability to network those near you and across the country. You can continue networking through professional forums found on the organizations’ websites.
Networking and knowledge are key to continuing a successful property management business.
1. Institute of Real Estate Management IREM
The Institute of Real Estate Management, also known as IREM, is an international organization. It started in 1933 and today has over 20,000 members.
The goal is to support and advance members in their property management career. The organization offers education, collaboration, and professional development opportunities for all members.
IREM has over 80 chapters in the United States and 15 more in 6 different countries. They offer several certifications including Certified Property Manager and Accredited Commercial and Residential Manager.
You can join IREM as an individual or an organization. The 2 main memberships include credentialed and non-credentialed. Each has 4 subcategories of membership options.
The credentialed membership options are best for professionals who work directly in the property management industry. The subcategories of this membership include:
- Certified Property Manager
- Accredited Management Organization
- Accredited Residential Manager
- Accredited Commercial Manager
Each one gives members the resources to attain further knowledge and continue growing themselves or their businesses professionally.
Non-credentialed membership options are for those who are new to the property management industry. And for those who not ready to commit yet. This also includes students and instructors in the field.
These subcategories are:
- Associate Members: professionals wanting to learn more without the commitment
- Academic Members: Instructors
- Student Members
- CPM Candidate Members: professionals working on getting the CPM certification
Non-credentialed membership offers many of the same benefits. These members have access to a wide range of resources to grow professionally. They can also get credentials to move up their membership if they desire.
Other benefits include access to industry tools, job boards, and professional discounts.
2. Building Owners & Management Association BOMA
The Building Owners and Management Association or BOMA is the oldest organization founded in 1907. It promotes the interests of residential and commercial property managers and owners. Their goal is to continue growing commercial real estate with knowledge, influence, and advocacy.
BOMA has over 16,000 members and 90 local chapters in the United States. It also has 18 international affiliate organizations.
A unique feature of BOMA is they welcome all professionals to join. This includes affiliate professionals and managers who also serve the real estate industry.
There are 4 main memberships:
- Local Association Member: Federated BOMA member for all local and regional chapters
- Member-at-Large: For property managers, commercial real estate professionals, and building owners who don’t have a local BOMA chapter nearby
- National Associate Member: For suppliers, distributors, and manufacturers supplying the real estate industry
- International Member: For those who work in any of the International Affiliate countries.
As a BOMA member, you have access to all educational resources. All these resources meet the changing needs in property management and real estate industries. This includes professional development training, custom organization training, conferences, and access to publications.
You can also enjoy BOMA webinars and access the member directory to reach out to other members of the organization.
Finally, BOMA chapters work to protect members’ interest in legislative advocacy. As a member, you can work with your local chapter to advocate to your local legislature.
3. National Apartment Association NAA
Anyone who works in the apartment industry should consider the National Apartment Association or NAA. Founded in 1939, it’s a long-standing organization with over 75,000 members and 170 affiliate groups.
The NAA represents the rental housing industry. It focuses on those who own and manage rental property.
Many members who are active in their (usually) smaller businesses. They’re typically individuals with smaller portfolios who put their own money into their business.
To join NAA, you must apply and pay dues through your local Affiliate Organization.
Through the NAA you can pursue a number of different certifications. Here are a few certifications to help you grow professionally offered by the NAA:
- Certified Apartment Manager, CAM: property managers
- Certificate for Apartment Maintenance Technician, CAMT: maintenance professionals
- Specialist in Housing Credit Management, SHCM: learn about affordable housing and the Low Income Tax Credit program
- National Apartment Leasing Professional, NALP: education on attracting and finding qualifying prospective tenants
- Independent Rental Owner Professional, IROP: education on budgeting, maintenance, rental taxes, and more
- Certified Apartment Portfolio Supervisor, CAPS: learn how to recruit employees, analyze finances, management agreements, and more
- Credential in Green Property Management, CGPM: learn about Affordable Preservation requirements
The NAA has similar benefits to the property management associations listed above. Members can further their education and networking opportunities.
The NAA hosts several conferences each year. They focus on professional development and networking within the organization.
As a member, you’ll enjoy legal help and resources, news publications, discounts, and more. If you own or manage a rental property, then you must consider joining the NAA.
4. National Association of Residential Property Managers NARPM
The National Association of Residential Property Managers or NARPM started in 1987. It’s one of the smaller and newer property management associations on this list. It focuses on educating members on how to conduct business and maintain relationships with renters as a property manager.
Today, it has 5,200 members. The majority are small residential property management business owners, agents, brokers, and individuals.
NARPM has 4 membership categories for businesses and individuals.
- Professional Members: licensed residential professionals with NARPM’s Code of Ethics training
- Associate Members: licensed residential professionals who have not completed NARPMS’s Code of Ethics training
- Support Specialists: membership for the office staff of NARPM members
- Affiliate Members: for others such as maintenance and contractors who indirectly work in the residential property industry
NARPM offers many professional reputable designations for its members. These designations can improve your business’s credibility. You can receive a designation through training, experience, and joining volunteer programs.
Other benefits include education opportunities, discounts, conference participation, and networking events.
Other Honorable Mentions
While these 4 property management associations are popular options, there are many more worth checking out. Here are 2 more organizations worth checking out.
The Community Associations Institute
The Community Associations Institute or CAI offers professional development, training, and networking opportunities. Homeowner leaders, community managers, and industry vendors are welcome to join the CAI.
The CAI has 8 different memberships with 4 main memberships. As a member, you can join conferences and gain CAI Certifications. You’ll have access to a resource library and learn how to build relationships with your suppliers.
The International Council of Shopping Centers
Are you looking for a property management association geared towards retail property management?
The International Council of Shopping Centers or ICSC works with those in the retail real estate field. There are several different membership options based on education, your field of work, and location. It has over 70,000 members with chapters in 100 different countries.
Membership benefits for ICSC members include networking and professional development. There are also resources for those who own or manage retail property.
Join a Property Management Association This Year
Are you planning to grow your property management business? Property management associations offer valuable resources, training, and networking. Make 2020 the year both you and your property management business grow.