The Institute of Real Estate Management was founded in 1933 during the Great Depression in the United States. When thousands of income-property mortgages were foreclosed, there was a shortage of skilled managers to operate these buildings. To alleviate this issue, a group of individuals came together to establish an organization that would set ethical and professional standards for the industry. The Institute of Real Estate Management was formed and initially consisted of 30 members. This was the first step ever taken by property managers to determine principles of qualification.

In 1938, the Institute created the Certified Property Manager (CPM^®) designation to address the need for higher professional standards. The Institute evolved into a truly professional society, whose membership was restricted to individuals. The CPM designation is now considered to be the industry's most widely esteemed credential, signifying the highest standards in the areas of ethics, professional experience and education.

The Institute also recognized the need for certifying firms to manage property. In 1945, the Institute created professional standards for firms so that they could be recognized with the Accredited Management Organization^® (AMO^®) credential. In addition to meeting the Institute's standards in integrity, education and fiscal stability, a firm must employ at least one CPM Member in an executive position to achieve the AMO accreditation.

The beginnings of the Accredited Residential Manager^® (ARM^®) credential date back to 1969, when the U.S. Department of Housing and Urban Development perceived a serious lack of trained managers for residential properties. As a response to this deficiency, the Institute developed a specific education program to train on-site managers in 1972. By 1975, this program had evolved into the ARM credential, which is currently regarded as one of the industry's most prestigious accreditations for residential site managers.

In 2002, the Institute launched its Associate Membership program to offer immediate entry into the IREM community. At this time associate membership is open to professionals within the United States only.

Timeline of IREM Milestones - Find out about notable IREM milestones over the last seventy years.