Cervelli Real Estate & Property Management | Certified Property Manager (CPM) Benefits – Cervelli Real Estate & Property Management

Why Certified Property Management Matters

October 12, 2023
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News

When it comes to selecting a property management company, you want to be confident in your choice. Reviewing a property manager’s certifications and accreditations can be a great way to learn more about their professional knowledge and expertise. Cervelli Real Estate & Property Management provides trusted property management services throughout New Jersey’s Gold Coast area. Here, we offer insights into the Certified Property Manager (CPM) designation and its benefits.

What Is a CPM?

CPM is a professional credential awarded through the Institute of Real Estate Management (IREM). As a key professional association for property managers, IREM membership is open to professionals in multiple asset classes, including multifamily and commercial building management. Founded in 1934, IREM has grown throughout its nearly 100-year history to include thousands of individual and corporate members, who are located throughout the United States and beyond.

Designation as a CPM is a prestigious industry credential that reflects professional experience, education, and training in property portfolio management. CPMs take rigorous courses in topics such as ethics, budgeting, marketing, real estate financing, and asset analysis. They also must complete a capstone and comprehensive exam to earn their certification, as well as uphold IREM’s code of professional ethics.

Benefits of Working with a CPM

Real estate is a major investment, so owners understandably want to know their assets are in good hands. Working with a CPM offers many advantages for building owners, such as:

Versatility

CPMs have proven industry experience and professional training across multiple asset classes. Whether you own commercial, residential, or mixed-use property, a CPM will have the expertise to oversee your portfolio. Plus, they will understand how to work with and relate to residents, commercial tenants, third-party vendors, and investors.

Financial Support

CPMs have the resources to help owners monitor their asset performance and can offer sound recommendations. With experience in budgeting, cash flow analysis, and reporting, CPMs can provide owners with real-time updates.

Improved Retention

By implementing practices like preventive building maintenance and property inspections, CPMs can help reduce the number of tenant service requests. Plus, they are trained to troubleshoot and resolve any issues that may arise. The result is higher levels of tenant or resident satisfaction and potentially improved tenant retention rates.

Overall, a property management team led by a CPM is well-positioned to mitigate risk for the building owner while ensuring a high level of service for tenants and residents.

Other Key Industry Certifications

While CPM designation applies to all asset classes, there are other types of certifications that property managers may pursue. The following certifications reflect specialized expertise in different areas of property management:

  • Certified Commercial Investment Member (CCIM): This certification can be earned after a property manager completes coursework in commercial investment real estate.
  • Certified Apartment Manager (CAM): Administered by the National Apartment Association (NAA), this certification reflects expertise in multifamily housing and apartment management.
  • Certified Professional of Occupancy (CPO): This is a key certification for property managers who work in buildings that participate in HUD affordable housing programs.
  • Accredited Management Organization (AMO): Harder to obtain than the CPM certification, the AMO certification stands unmatched in the industry. It represents a firm’s exceptional management, fiscal stability, and commitment to professional ethics. Firms must have CPM certification to earn it.

Partner With an Experienced Property Management Company

At Cervelli Real Estate & Property Management, we are dedicated to helping you maximize the return on your residential or commercial property. As an Accredited Management Organization (AMO), our team is proud to hold CAM, CCIM, CPM, and CPO designations. With over 150 years of combined experience in the industry, our staff of trained property managers offers unparalleled building management services to clients along the Gold Coast of New Jersey, including Hudson, Bergen, Essex, Union, and Passaic counties. Our diverse portfolio includes:

We draw on our experience as building owners to help manage properties for our clients, providing a personal touch and unmatched support. Cervelli Real Estate & Property Management offers detailed financial reporting, conducts regular building inspections, and is on call for 24/7 emergency service. For more information about our expertise, review our property management testimonials or contact us today.