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(Chicago, April 22, 2009) – The Institute of Real Estate Management (IREM^®) and the National Association of Residential Property Managers (NARPM^® have signed a Memorandum of Understanding (MOU) outlining a collaborative working relationship in support of their common goals. IREM President Pamela W. Monroe and NARPM^® President Fred Thompson signed the MOU during a special ceremony held at IREM’s just-concluded annual Leadership and Legislative Summit in Washington, DC.

Monroe and Thompson, commenting jointly following the signing ceremony, noted that “IREM and NARPM are both committed to enhancing the real estate management profession through ethical business practices; providing top-notch educational resources to those who manage real estate as a profession; helping their respective members achieve success with the properties they manage and the businesses they own or that employ them; and, finally, promoting advocacies that benefit the  real estate management industry and its clients.”

To advance these shared goals, the organizations will:

• Work together to further advance the real estate management profession within their respective market sectors and through other means as may be determined.
• Extend preferred member pricing on each organization’s products and services to members of the other organization.
• Publish articles developed by each organization and its members in the publications of the other, so long as prevailing editorial policies and deadlines are observed.
• Encourage submission of proposals for presentations at education sessions at the conferences of each.
• Exchange information on legislation, regulatory, and public policy activities affecting their respective members.
• Collaborate on other initiatives, as appropriate.

ABOUT THE NATIONAL ASSOCIATION OF RESIDENTIAL PROPERTY MANAGERS
The National Association of Residential Property Mangers (NARPM^®) was established 21 years ago with an ongoing mission to support the professional and ethical practices of rental home management through networking, education and designation. NARPM^® is an association designed for real estate professionals who know first-hand the unique problems and challenges of managing single-family and small residential properties. NARPM^® offers an effective, professional learning environment for owners of property management companies, property managers and their office staff.

NARPM^® has over 50 chapters nationwide and an individual membership of over 2,500 property managers and support staff. The membership classes are: Professional Members are those individuals who must be engaged in the management of residential properties as agents for others, licensed in those states that require licensing; Support Specialist Members are individuals who act in the role of support in the office of a Professional Member, not acting in a capacity requiring licensure in that state; and Affiliate Members are companies who serve or supply the residential property management profession.

The Association also manages several prestigious professional designations that are just for residential property managers. The Residential Management Professional (RMP^®) and Master Property Manager (MPM^®) are the designations residential property owners recognize and seek. Property management firms that are headed by an MPM^® and that demonstrate the highest level of professionalism are eligible for the Certified Residential Management Company (CRMC®) designation. Certified Support Specialist (CSS) professionals work in an organization with a NARPM^® member who has earned the RMP^® or MPM^® designation. NARPM^® designations are earned with a combination of property management experience, NARPM^® and industry education, and service to the association through volunteer activities.

NARPM^® is the nation’s only professional organization for managers of residential properties, from single family units to 4-plexes.  Members represent over $24 billion in residential rental properties nationwide.

Contact the national office of NARPM^® at 1-800-782-3452 to learn more about the organization.

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 ACoMcertification, 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.