Realty411 Magazine Featuring Eric Counts, Credit Nerds | Page 87

Hiring and Managing
Property Managers
By Bruce Kellogg
Has your “turnkey” property manager become
unsatisfactory? Are you weary of managing your
properties by yourself? Did you inherit or
purchase a property outside your area, and now need a
manager for it? Then read on.
Searching for Candidates
In large population areas there are usually many property
managers, so you can begin with an internet search. Read
the websites. Consider that the “minimal­looking” websites
might not be as equipped for the job, and possibly less
professional. For the “polished” websites, the concern is
that they might be
marketing­oriented
but less substantial as
managers. So,
interview those
thoroughly, as you
should, anyway. .
In smaller
populations, there
might be just one, two,
or no full­time
property managers.
Then the best
approach is to ask
local brokers who does
property management
in the area. Often it’s
an agent who sells
properties and
manages part­time.
Don’t be discouraged
by this. Some of these
are very good.
Organizations and Credentials
There are two national organizations that are concerned
with property management. The first is the Institute of Real
Estate Management (IREM). This is an affiliate of the
National Association of Realtors®, and it has national and
international chapters. It emphasizes professionalism by
presenting courses, holding conventions, and providing
four credentials that require coursework, degrees of
experience, and ethical practices. These credentials are:
Certified Property Manager (CPM)
Accredited Residential Manager (ARM)
Accredited Commercial Manager (ACoM)
Accredited Management Organization (AMO)
These are the “pro’s”, but that doesn’t mean the others
are not. Less than 3% of managers have these credentials.
But, if you find one, consider it a bonus.
The second national organization with chapters is the
National Association of Residential Property Managers
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