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Preparing an Independent Management Plan

If you are considering writing an independent management plan in order to meet the CPM designation requirements, here are a few guidelines before you register.

The best property on which to do a management plan is one in your own portfolio and with which you are familiar. However, this is not a requirement. You should select a property for which you can obtain all of the necessary  information needed to complete the plan.

You can write your management plan on any type of property, as long as it minimally conforms with the following property type and size requirements:

Apartment, rental mobile homes, hotels and motels

At least 50 units

Single-family homes

At least 35 units

Office buildings

At least 40,000 square feet of net rentable space

Retail/commercial buildings

At least 40,000 square feet of net rentable space

Industrial properties

At least 50,000 square feet of net rentable space

Mobile home parks

At least 170 pads

Mixed-use properties of the nature listed above and of comparable size may be used. You may not do a management plan on a property to be developed or under development; this would be, in effect, a feasibility study. The subject of your plan must be an existing building.

A management plan is not judged on its length; however, the average length for a management plan is approximately 100 text pages, with additional pages for exhibits. Brevity, but clarity, should be sought whenever possible.

For more information about the management plan, download a copy of the IREM Management Plan Handbook. When you register for the Management Plan, you will receive additional support materials. Click here to register.

If you have questions, please contact us at 312/329-6023 or