Certified Property Manager® (CPM®) Experience Requirements

Experience is an integral component of the CPM designation. A total of three years (36 months) is needed to become a CPM. Your experience for any given month qualifies if, during that month, you were in a real estate management position, managed a minimum portfolio, and performed a minimum number of functions.

Portfolio Requirement
Functions Requirement

Portfolio Requirement

To qualify for CPM experience credit, you must manage a portfolio that meets minimum requirements, which varies based on the number of sites you manage.

Residential
Apartments, condominiums, homeowner's associations, mobile homes, mobile home parks, single-family homes, hotels, and motels

• 300 units at 1 site
• 200 units at 2-4 sites
• 100 units at 5 or more sites

Commercial
Office buildings, retail buildings, shopping centers, multi-tenant industrial property, research and development (R and D) property, and self-storage centers

• 120,000 square feet (11,000 square meters) at 1 site
• 80,000 square feet (7,500 square meters) at 2 or more sites

Industrial
Single-tenant industrial space

• 200,000 square feet (18,500 square meters) at 1 or more sites

Note: A site is defined as a geographically separate facility. If there is not a geographical separation, factors to consider for establishing individual sites are separate site offices, separate owners, and separate financial statements.

You can manage any combination of the property types listed above, as long as your combined portfolio meets the minimum requirement. If your portfolio contains a mix of residential, commercial, and industrial, use percentages to determine if you meet the minimum levels required. Also note that, as a general rule, managing raw land, a new property under construction and parking garages do not qualify for experience credit.

If, for any period of experience as a real estate manager you do not manage a minimum size portfolio, you would receive no CPM credit for that experience because you would not be functioning as a real estate manager per the IREM definition.

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Functions Requirement
IREM defines the activities performed by real estate managers according to 35 functions. In addition to managing a minimum size portfolio, you must perform at least 17 of the 35 functions in order for any period of real estate management experience to qualify for credit toward the CPM designation.

1. Hire, manage and evaluate site personnel and/or off-site management staff or contracted management firms, directly or through others.

2. Identify staffing requirements and develop, or approve, job descriptions and/or develop and monitor, or approve, human resource policies and training and development plans.

3. Identify, implement and monitor, or approve, energy use/conservation programs for the property.

4. Determine which items or services are to be purchased for the property, prepare specifications, solicit and evaluate bids for contract services, negotiate or approve contracts, and monitor contracts.

5. Oversee operation of building systems, supervise employees or monitor contractors who perform routine maintenance and repair work, and/or oversee planning and construction of tenant improvements and interior design.

6. Design, implement and monitor, or approve, preventive maintenance programs for the property.

7. Establish or maintain and enforce the property's operating policies and procedures and occupancy/usage guidelines.

8. Establish, maintain and monitor adherence to, or approve, the property's record keeping system.

9. Identify, analyze and implement, or approve, capital improvement or replacement programs, including but not limited to maintenance or remodeling programs and resident/tenant improvements.

10. Perform regular property inspections and take appropriate action in accordance with established policies and procedures.

11. Design and implement, or approve, resident/tenant retention, orientation and property familiarization programs.

12. Routinely communicate with occupants of the property concerning level of service and other management matters and/or investigate and resolve resident/tenant complaints.

13. Administer the leasing and lease renewal process and/or negotiate or approve leases.

14. Prepare, market and show leasable space.

15. Prepare, approve or execute a marketing plan for the property.

16. Analyze market conditions and recommend, or approve, the property's rental rates.

17. Design, implement or approve life-safety and emergency preparedness programs for the property.

18. Develop, implement or approve a risk management program for the property and/or identify the property's insurable risks and recommend, secure and monitor insurance coverages.

19. Recommend and/or initiate legal actions for violations of leases, contracts or governing documents, including but not limited to evictions and filing of liens.

20. Ensure the property's compliance with government and environmental regulations.

21. Process and/or monitor, or approve, property payables.

22. Supervise property collections, including the handling of property receipts, journal entries, records of account, bank deposits, and delinquent accounts.

23. Prepare, present and implement annual property budgets, including capital expenditure budgets, or review, authorize and monitor such budgets prepared by others.

24. Prepare, analyze or approve the property's financial and operating statements and variance reports.

25. Approve major deviations from the budget, exclusive of emergencies.

26. Identify and analyze the property's financial requirements and financing options, and/or replacement reserve requirements, and recommend funding sources to the owner.

27. Estimate and monitor the market value of the property and assess the implications that estimates of value have on the owner; determine the reasonableness of assessed value and insurable value.

28. Identify, analyze and propose alternate uses of the property and implement or approve a plan to change the property's use (e.g., converting a residential building to commercial use).

29. Read and interpret loan document requirements.

30. Establish or maintain management controls and analyze the property's performance.

31. Identify and recommend, or approve, real estate assets for acquisition or disposition.

32. Determine the goals and objectives of the property owner.

33. Evaluate real estate tax assessments and recommend an appeal strategy to the owner when appropriate.

34. Prepare a management plan for the property.

35. Identify and recommend, or approve, alternate sources of income for the property and implement programs accordingly.

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