If you wish to become an ARM certified property manager, it is important that you have your license before you start a property management business. You will also need to meet certain education and experience requirements. There are specific courses that you will need to take in order to qualify for this training, including a certificate in education in real estate and a certificate in financial management.
There are some basic knowledge requirements to become an ARM certified property manager. You must be at least 21 years of age. You will need to pass the real estate licensing exam. You will also need to complete a four-hour real estate course.
Some of the basic requirements to be an ARM certified property manager include owning or having property with at least three hundred feet of street frontage or twenty-five hundred square feet of warehouse and storage space. You must have a minimum of one hundred thousand dollars of asset and liability, if the owner is a mortgage company, you must own at least fifty percent of that mortgage company and a minimum of two percent of the loan principal.
The licensing requirements for the real estate courses you have taken are slightly different than for an ARM. For an ARM, you will have to complete a five hundred and seventy two-hour program. In some states you must complete at least one year of community service or volunteer work in the community as well. If you have completed a four-year degree in real estate, it will still be necessary to complete the licensing requirements.
It is a good idea to enroll in a real estate course that will give you practical experience in real estate management. In particular, you should choose a course that will teach you about managing commercial properties such as office buildings, shopping centers, office complexes, and hotels. It will also be beneficial to study a course that will teach you about the legal aspects of being an owner of property.
Some of the most popular ARM certification courses are those that teach you how to handle tenant relations and managing financial operations. You also may want to consider enrolling in a course that teaches you about marketing to attract new tenants. Another course you may want to consider is one that teaches you about the insurance laws and procedures for your state. In addition, you will need to complete a certification exam that shows your knowledge of the real estate laws in your state.
The best way to become an ARM certified property manager is to join a local association or club that offers these classes in your area. You may also want to look into a university that offers accredited courses in real estate management to further your education. Most people that go into the business have some sort of certificate in real estate, so they are highly recommended.
In order to become an ARM certified property manager, you must first become licensed in the state that you reside. Once you have your license, it is advisable that you enroll in courses that cover the legal aspects of owning a home or apartment, including real estate law, insurance laws, marketing strategies, and the administration of a real estate management business.
Once you are ready to become an ARM certified property manager, you must take an exam that will measure your knowledge of these important subjects. The exam may be administered by the National Association of Realtors (NAR) or the National Association of Property Managers (NAPM).
The NAR and NAPM exams are both offered on paper only. You must pass both the written and the practical portion of the examination to become an ARM certified property manager. After completing the exam you will have your certification number and be issued your license.