April 23, 2020| Lester Yat
Like headline circus jugglers, property managers have to be ready to handle whatever is thrown at them, day after day. And their skill in catching every challenge tossed their way — and seamlessly working each on into their daily routine — is a testament to their skill and experience.
But that skill doesn’t arrive out of thin air, and time on the job isn’t a guarantee of success in handling those myriad challenges.
Building owners and association boards know that the best property managers tend to be those who have invested the time, effort and expense involved in attending management courses and earning industry-recognized certifications.
Learning Never Ends
Managers whose resumes sport industry designation acronyms like CAM, AMS and PCAM, are serious about their jobs and in a position to provide cutting-edge, in-depth knowledge for the benefit of the buildings they oversee.
But while youngsters used to dream of running away to join the circus and become stars under the Big Top, chances are slim that even students heading off to college have their hearts set on careers in property management or are filling their semesters with courses in condominium finance.
So where do managers — who often enter the industry from other, sometimes unrelated fields — learn the property management ropes?
Fortunately — for them, and for the buildings they manage — several industry organizations have established workshops, seminars, courses and rigorous requirements leading to a host of coveted certifications. And those designations aren’t just meant to enhance resumes; they are neon-bright signals to property owners and boards that managers have pursued the knowledge needed to keep their buildings or complexes running smoothly. The courses cover the spectrum, from budgeting and cash flow to association communications and community leadership.
An Alphabet Soup of Certifications
Here’s a sampling of the management education and certifications offered by industry organizations.
So what do those designations mean for property owners and association boards? Consider the premise set forth by IREM: “Well-managed properties pay dividends in terms of value and in the quality of life for residents, tenants and customers.”
And no matter how you look at it, that’s a real juggling act.