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(Chicago, Jan. 14,  2009) – The Institute of Real Estate Management (IREM®) and the IREM Foundation, aided by financial support from Yardi Systems and the REALTORS® Commercial Alliance(RCA) of the National Association of REALTORS®, are funding  professional development grants for 17 returning U.S. veterans interested in pursuing careers in real estate management.  The grants will cover tuition for a one-week IREM course on “Successful Site Management (RES201),” to be presented in Chicago from Feb. 2-6, as well as transportation to and from Chicago, lodging for up to six nights sponsored by Swissotel Chicago, and one year of IREM membership dues. The course addresses all aspects of managing residential properties – including affordable and student housing – and provides participants with the skills they need to get jobs as residential site managers, leasing agents, and assistant property managers.

“WIN-WIN” SCENARIO FOR RECIPIENTS AND THE INDUSTRY
In a joint statement announcing the grant program, IREM President Pamela W. Monroe, CPM®, and IREM Foundation President Robert Click, CPM®, said: “The U.S. media is spotlighting the increasingly devastating picture of surging unemployment and low wages for returning veterans.   In contrast, recipients of our grants will be on track to become real estate management professionals with ample and rewarding career opportunities, attractive wages and bright futures.  Moreover, given the already critical shortfall of quality real estate managers ready to replace retiring practitioners, reaching out to veterans as they seek to re-enter the workplace is one of many “win-win” initiatives needed to address our industry’s workforce development challenges.”

PARTNERSHIP WITH PROFESSIONAL HOUSING MANAGEMENT ASSOCIATION
IREM and the Professional Housing Management Association (PHMA) established an informal partnership in which PHMA helped to publicize and identify candidates for the grants. The IREM Foundation, through its Grants and Scholarship Committee, then selected grantees. Upon completion of the one week course, grant recipients will be referred to the IREM chapter in their area to assist them with job searches.

COURSE CAN LEAD TO ARM® CERTIFICATION AND HOUSING BENEFITS
Grant recipients who complete the RES201 course and pass a half-day exam at the conclusion of it will have fulfilled the education and examination requirements for IREM’s Accredited Residential Manager® (ARM®) certification, the industry’s most respected credential for specialists in residential property management. And if the jobs for which they will become eligible call for managers to live on site, housing can be made available to them at a reduced rate, and/or tax free.

COURSE CONTENT SPECIFICS
The topics the grant recipients will learn about  during their week-long education and training experience cover:

• Human resource and relationship management
• Legal issues and risk management strategies
• Professional ethics
• On-site maintenance management
• Property financial management
• Marketing and leasing

ABOUT THE PUBLIC HOUSING MANAGEMENT ASSOCIATION
The mission of the Professional Housing Management Association (PHMA) is to contribute towards better quality housing for our military members and their families by continuously raising the level of proficiency and professionalism within the military services’ housing profession through improved communications and networking; education and training; certification; and professional recognition. To learn more, visit the association’s website at www.phma.com.

ABOUT THE INSTITUTE OF REAL ESTATE MANAGEMENT
The Institute of Real Estate Management (IREM®) is celebrating its 75th anniversary in 2008.  Major sponsors of the year-long celebration areYardi Systems, a leading provider of high-performance software solutions for the real estate industry, and the REALTORS® Commercial Alliance (RCA), the collective commercial constituency within the National Association of REALTORS®.

For more than seven decades, IREM has been the source for education, resources, information, and membership for real estate management professionals. An affiliate of the National Association of Realtors®, IREM is the only professional real estate management association serving both the multi-family and commercial real estate sectors. With 80 U.S. chapters, eight international chapters, and several other partnerships around the globe, IREM is an international organization that also serves as an advocate on issues affecting the real estate management industry.

Membership includes more than 18,000 individual members and 500 corporate members. IREM promotes ethical real estate management practices through its credentialed membership programs, including the Certified Property Manager® (CPM®) designation, the Accredited Residential Manager® (ARM®) certification, the Accredited Commercial Manager certification, and the Accredited Management Organization® (AMO®) accreditation. These esteemed credentials certify competence and professionalism for those engaged in real estate management. In addition, IREM offers Associate, Student and Academic memberships.

Collectively, IREM CPM® Members in the United States manage over $1.5 trillion in real estate assets, including 8.4 million residential units and 8.4 billion net square feet of commercial space. An additional 977,400 residential units are managed by IREM ARM® Members. IREM Members are employed by some of the most prestigious real estate firms in the world and nearly 70% hold upper-level management positions. Due to their professionalism and vast experience, property owners and investors worldwide continually seek out the management services of IREM Members.

To learn more about the Institute of Real Estate Management and its chapter network, call (800) 837-0706, Ext. 4650 (outside the U.S. call (312) 329-6000) or visit www.irem.org.