The Best Property Management Courses

Hello, my friend, hello again; today we come together to talk about The Best Property Management Courses and hope the blog can help you.

The best property management courses offer high-value training and certification programs to launch a successful career in property management.

Property management courses offer a wealth of information for students looking to break into the industry. They can cover most, if not all aspects of the job, from industry lingo to laws and regulations to the ins and outs of managing tenants, rent collection, property maintenance, marketing, and more. The best property management courses, however, are a cut above; they provide additional tools and information that can allow a student to launch or accelerate a career in property management. The top choices can help position students to step into a property management role with confidence and a wealth of knowledge.

BEST OVERALL: NAA Certified Apartment Manager
RUNNER-UP: IREM Certified Property Manager
BEST FOR BEGINNERS: Penn Foster Property Management Certificate
BEST FOR VACATION RENTALS: VRMA Vacation Rental Management Certificate
BEST FOR COMMERCIAL SPACES: BOMA Certified Manager of Commercial Properties

The Best Property Management Courses Options — Photo: istockphoto.com

What to Consider When Choosing One of the Best Property Management Courses

Property management programs are abundant in number and scope through their curriculum offerings, and a prospective student can start by considering which property management area to specialize in—residential, commercial, or even mixed-use buildings. In addition to the type of property, there are a number of factors to take into account before deciding on a property management course, including the class format, cost, experience requirements (some programs require up-front work experience prior to enrolling), and the course topics covered in the program. Some programs also offer a property management certification—a crucial factor if looking for that designation for employment purposes.

Class Format

A growing number of property management class options are now offered online. That may be a convenient way to squeeze in training if juggling a busy schedule or already working in the property management field. Many property management courses online are self-paced, which allows students to fit it in at a time of their choosing. Alternatively, some courses may offer live virtual instruction options, where there will be specified times to tune in.

Some of the best property management courses are instructed in person as well. In-person property management training options may help build a network of peers within the field, which could be important in a relationship-driven business like property management.

Price

Consider the financial investment; costs will depend on the program and the student’s level of investment. For example, some students may prefer just to brush up on a skill set or advance their current experience in an area by taking a single course or even a seminar. Or, they may be ready to make a larger financial and time commitment. Regardless of the length and difficulty of the course, costs vary, but they typically range from $450 to $8,500 (or more). If selecting a certification or designation property management program, be sure to factor in whether there are any certification renewals, which could mean added annual fees. Also, consider whether the program requires paying the entire fee up front or if a payment plan is available.

Experience Requirements

Property management courses may have education and experience requirements at different points in time, which can help a student select the best option for their needs and circumstances. Some courses may require students to hold a degree in property management or real estate. Some courses may even require that students have experience working in property management before starting the course. Alternatively, students may be required to complete a certain number of work hours by the time they graduate.

Of course, those who are new to property management and want to take the course imminently will want to make sure the programs they’re considering don’t require prior work experience in the field. Some programs may require a year—or even more—before enrolling. Some programs also may require students to hold a degree in property management or real estate to enroll.

Though a property management course is an excellent way to jumpstart a career (or further an existing one), a student may still need to meet some additional requirements: Most states have licensing requirements that must be met before a student can become a property manager.

Course Focus

Property management programs vary in scope and offer a variety of course offerings. Some programs are geared to those just starting out and offer a more foundational focus to the curriculum; others offer a chance for experienced property managers to take their skills further or even specialize. The course focus of most of the programs is usually divided between a residential or commercial property management emphasis.

Those interested in residential property management can gain skills in either managing residential rental properties or vacation properties. Other programs may be geared more toward industrial or commercial property management, which could cover topics related to managing retail complexes, shopping malls, warehouses, or office buildings. Carefully consider a property preference to find a program that offers courses related to your interests.

Course Length and Study Materials

The commitment needed to complete a property management program can vary. Some programs may take a few months; others may take a year or even longer to complete.

Also consider what study materials are offered through the program and whether those are included in the overall price or will require an extra payment. Study materials may be offered not only for classes but also for exams. Several programs require students to pass an exam to graduate, and they may offer study materials to help students prepare.

Certifications Earned and Renewal Requirements

Property management certification from a well-known, respected organization—such as one of the best property management courses—can offer something tangible to show others once training has been completed. Although usually not necessary to work as a property manager, certification or designations are often linked to obtaining a higher-paying position and advancing more quickly within a property management career.

Certification programs do tend to be more expensive than those that don’t provide any credentials and may require up-front experience before enrolling. Those who select a certification program are encouraged to factor in what’s required to keep a certification active. Property manager certification may require continuing education or even paying an annual fee. On the other hand, some programs may have no additional requirements or financial obligations after they’re completed.

Our Top Picks

The best property management courses are affiliated with or highly regarded by reputable organizations within the industry. They also cover a wide range of needs and levels, with training programs suitable for those with prior experience as well as courses for students who are new to property management. Finally, there are property management courses that offer the opportunity to specialize or develop a niche within the field.

Best Overall

NAA Certified Apartment Manager

Class format: Online, in-person
Price: $900 for NAA members; $1,125 for nonmembers
Experience requirements: 12 months of work experience by graduation
Course focus: Residential property management
Course length: Varies by course
Certification earned: Certified Apartment Manager
Certification renewal requirements: 8 hours of continuing education and $100 fee every year

Pros

Online and in-person class options
4-day, 2-week, and 4-week in-person courses
Relatively attainable continuing education requirements
Convenient pre-course online self-assessment tool

Cons

Website information is relatively limited

Why It Made the Cut: The National Apartment Association’s CAM (Certified Apartment Manager) course delivers a valuable certification to aspiring apartment managers through comprehensive and flexible online or in-person course options. The National Apartment Association (NAA) Certified Apartment Manager course covers a wide range of topics for those looking to specialize in apartment management, including coursework in marketing, property inspections, preventative maintenance programs, working with contractors, accounting, and maximizing net operating income. After completing training, students earn a CAM (Certified Apartment Manager) credential to show off to clients and potential employers. The program offers plenty of flexibility depending on students’ preferences and how they learn best. Coursework can be completed online or in person. In-person options are scheduled by local and state affiliates, and the class lengths can range from 4-day intensives to 4-week courses. An online self-assessment tool can help potential students determine if the CAM certification course is right for them based on their prior experience and education. In the assessment, students can rank their comfort level with different topics and skills that are necessary in a property management career. The program does require more than just completing coursework. To earn the CAM credential, candidates must complete all their CAM coursework (totaling 40 hours), have a minimum of 12 months of on-site property management experience by the time they graduate, and pass an exam. As with most other property management certifications, graduates of the program will be on the hook for continuing education to keep their certification active, but the annual 8-hour coursework and $100 fee are relatively attainable to maintain. While the CAM website has somewhat limited information, customers can reach out to NAA representatives to answer any lingering questions.

Runner-Up

IREM Certified Property Manager

Class format: Online, in-person
Price: $7,500 to $8,500
Experience requirements: 36 months of work experience by graduation
Course focus: Residential property management
Course length: 12 to 18 months
Certification earned: Certified Property Manager
Certification renewal requirements: Annual IREM and NAR membership

Pros

Online and in-person class options
Course materials and requirements emphasize real-world skill
CPM fast-track option lets students waive 7 out of 8 course modules

Cons

Relatively high cost

Why It Made the Cut: The IREM Certified Property Manager (CPM) designation offers education in commercial, residential, or mixed-use properties with an emphasis on creating and maintaining real-world skill sets. The Institute of Real Estate Management (IREM) Certified Property Manager (CPM) designation offers a wide variety of coursework that focuses on real-world skills including budgeting, team building, and financing aspects of property management. IREM touts that its program graduates earn more than double the average property manager salary in the U.S. and that its students attain higher-level positions. However, the program costs more, ranging from $7,500 to $8,500, along with certification renewals that require an IREM and institute-affiliate National Association of Realtors (NAR) annual membership. Still, CPM management graduates get access to a powerful network to help launch and further their careers, including through IREM local chapter networking events. Students must have a total of 3 years’ qualifying real estate management experience upon graduation. The program—with online and in-person class options—also requires taking CPM certification courses and passing a CPM Capstone, a two-part final assessment. IREM does offer a CPM property management fast-track option, in which students who have a real estate or property management degree or meet certain work experience requirements can waive seven of the eight CPM-required certification courses.

Best for Beginners

Penn Foster Property Management Certificate

Class format: Online
Price: $579
Experience requirements: No requirements
Course focus: Residential property management
Course length: 4 to 8 months
Certification earned: Course completion certificate
Certification renewal requirements: No requirements

Pros

No experience or certification renewal requirements
Monthly payment plan available
Relatively affordable cost

Cons

No certification awarded upon course completion

Why It Made the Cut: The Penn Foster Property Management Certificate provides a head start for those new to the property management field by providing an overview into the skill sets, laws, and expertise required to succeed. The Penn Foster Property Management Certificate is an excellent choice for those embarking on a career in property management since it does not require prior work experience to enroll and is relatively affordable for many students. The program covers foundational aspects of property management within tenant relations, financial accounting, property valuations, real estate law, risk management, and fair housing. Students can opt to pay the total cost up front or enroll in a monthly payment plan. The course doesn’t award a certification upon completion, but the upside is that there are no annual renewal requirements for fees or continuing education. The program does offer lots of flexibility, with property management classes online that can be completed at a student’s own pace from home. There are no exam due dates, and the program can be started at any time. Those who enroll always have access to online resources, digital study quizzes, simulations and videos, and an online student community for connecting with others.

Best for Vacation Rentals

VRMA Vacation Rental Management Certificate

Class format: Online
Price: $450 for VRMA members, $750 for nonmembers
Experience requirements: No requirements
Course focus: Vacation rental management
Course length: Not specified
Certification earned: Vacation rental management certificate
Certification renewal requirements: 15 hours of continuing education and $100 fee every 3 years

Pros

Exclusive focus on managing vacation rental properties
Program developed by industry experts and experienced vacation rental managers
Self-paced and live online class options

Cons

Course length information not readily available
Student support not readily available

Why It Made the Cut: The VRMA Vacation Rental Management Certificate focuses exclusively on vacation rental management with coursework designed and developed by industry leaders and experienced vacation rental managers. Vacation properties are niche within the larger property management industry. The Vacation Rental Management Association (VRMA) Vacation Rental Management Certificate provides a pathway for those who want to pursue this specialty area, whether professionally or personally by listing a home on one of the best vacation rental sites. Those enrolled in the program will learn how to expertly operate and manage vacation rental properties and will earn a VRMA certificate upon completion to display when marketing their services. The course was developed by industry professionals and experienced vacation rental managers, so students can feel confident that the material will be pertinent and useful. The program is completely online with self-paced and live options. The live online option allows students to attend live classes where a teacher lectures and students have opportunities for questions and discussion. There’s little information available on how long the course takes, and student support is not readily accessible, so interested students may want to contact a VRMA representative or research online reviews before committing. To complete the program, prospective vacation rental managers will be required to complete five online module programs and pass an online assessment for each. Each module dives into a specific, critical role and responsibility of a vacation rental manager, including business operations, marketing and promotion, business planning and organization management, and guest and owner relations.

Best for Commercial Spaces

BOMA Certified Manager of Commercial Properties

Class format: Online
Price: $495 for exam prep course, $675 for exam registration
Experience requirements: No requirements
Course focus: Commercial property management
Course length: 30 hours of instruction
Certification earned: Certified Manager of Commercial Properties
Certification renewal requirements: 45 hours of continuing education and $325 fee every 3 years

Pros

Exclusive focus on managing commercial properties
Self-paced and live online class options

Cons

Relatively intense continuing education requirements

Why It Made the Cut: BOMA’s Certified Manager of Commercial Properties (CMCP) course delivers quality education via self-paced and live online courses to those looking to accelerate their careers within commercial property management. The Building Owners and Managers Association International (BOMA) developed the Certified Manager of Commercial Properties (CMCP) designation for those interested in pursuing careers in the property management of commercial properties. The program exclusively focuses on commercial management and homes in on seven sections of property management knowledge identified as keys for success: accounting and financial management; lease management; risk management; building systems; managing relationships with tenants and vendors; professional networking; and competencies within organization, service, and communication. The program is exclusively online. Students have the ability to complete coursework at their own pace, or they can attend live virtual instruction times. The live instruction also includes collaborative activities where students can directly interact with peers and the instructor. The certification’s continuing education requirements are relatively intense, calling for 45 hours of continuing education and a $325 fee every 3 years. Still, the program could be an affordable option for those with existing experience and property management knowledge since the BOMA’s exam prep course and certification exam are priced separately. Students are not required to take BOMA’s prep course in order to take the BOMA exam, but they must meet education and work requirements if they do not take the course. Those who earn a CMCP early on in their career can leverage their new credential to employers to show they’ve gained fundamentals in learning commercial real estate operations and management principles.

Our Verdict

NAA’s Certified Apartment Manager course is our top pick for best property management course as it’s backed by the National Apartment Association and offers flexible class options and an easy-to-maintain certification. While a more costly option, IREM’s Certified Property Manager course is a close contender. This program allows enrollees to focus on commercial, residential, or mixed-use properties to add variety to their skill set and is backed by the National Association of Realtors, which could offer access to an extensive network in advancing a property management career.

The Best Property Management Courses