By being certified in both vacation rentals as well as property management is where you would start if you feel this is the best career path for you, as you are more likely to be hired by a vacation rental company if you have these certificates under your belt. Both courses carry certifications and are ideal if you are looking to start your own property management company in the future.
WHAT IS A CERTIFIED PROPERTY MANAGER
Being a certified member of the National Association of Realtors is recommended, it shows you have not only the commitment to property management but that you are very also capable of handling all situations that would ever arise within rental agreements. A certificate from the National Association of Realtors will require a Realtor’s Licence, an interview with IREM Chapter locally and attend IREM Chapter meetings to be approved before they will issue the certificate. To apply for the Realtors Licence you will need to attend a pre-licensing course and pass the test with a solid understanding of the property markets.
There are many rules and regulations that need to be understood and the property manager will need to show consistency in all paperwork and legal regulations as well as a wealth of knowledge about real estate property transactions, buying, selling and renting.
THE PROPERTY MANAGEMENT LICENSE
Although it is not always the case that a licence is needed in the vacation rental service, there are a few certificates that will certainly help to bring more clients through the door. It is vital to learn the entire aspects of property managing including, the huge amount of safety regulations as well as the legalities that go into not only renting vacation properties and leasing long term lets but buying and selling properties as well. It is only with these requirements being met that smooth transactions between property owners and potential buyers or renters will be realised.
CPM Certificate
This a property management certificate obtained after number of property management courses. This certificate will mean that you are real estate certified and can legally buy and sell homes, as well as managing rental properties. A history of schooling and college that leads to a bachelor’s degree would be necessary to qualify for this certificate as you will have to be a licenced realtor before becoming a certified property manager.
RPA Certificate
This is a certification given by the Building Owners and Managers Institute and is a must for those looking to start property management on their own. This certification is carried out rather than qualifying in college or being a real estate agent. This fast tracking way of certifying is ideal if a bachelor’s degree or further college is not viable.
We would always recommend that before embarking on any type of property management career path that you contact your local authorities to ensure that you will be operating within all current regulations, as regulations will differ across the country, and not all US States will require you to be certified by the National Association of Realtors.
For more information on making your vacation rental legal, check out Lodgify’s guides to vacation rentals and property management find out more from https://www.lodgify.com/vacation-rental-guide/.