Education Requirements to Get a Condominium Manager License
Updated: Oct 6, 2020
Condo management is a challenging yet promising real estate profession. Condominium managers do duties specified by the condo association’s BOD. If you want to become a condo manager, we have some helpful information for you about the education requirements for condominium manager license. Getting a property management license can help you have a successful career in real estate management.
How do you become a property manager for a condominium?
Education and training are essential elements of becoming a successful condo management professional or real estate broker. You have to meet certain eligibility requirements to become a professional who can effectively manage a condo and other real estate properties. The good news is that these requirements are simple.
First, you must be at least 21 years old. In some states, the age requirement is a minimum of 18 years to start a career in the real estate sector. Second, you must be a legal US citizen or permanent resident and hold at least a high school diploma or GED. Having a college degree can make it easy for you to complete your licensing and certification and get a job.
Depending on your state, you may be required to get a license to work as a condo property management professional or real estate broker. Most states require the passing of the real estate licensing exam to qualify for a license, besides having a high school diploma.
Besides the eligibility requirements, condominium property managers like other real estate professionals are required to have certain skills. They need to have excellent communication and management skills. Customer service, marketing, and the basics of financial management are other areas where a real estate broker is expected to be skilled.
What certifications do I need to be a property management professional?
To be a successful property manager, consider getting relevant certifications. While certifications are not the prerequisite for starting a real estate career, getting one can give you a competitive edge as a real estate broker. Certified property managers are more successful in their careers, and they make more money than non-certified real estate professionals. Getting certifications will also broaden your knowledge and improve your skills in property management. The recommended certifications for property managers include manager CAM and NALP. You can complete these certifications online.
Most real estate broker certifications require candidates to meet specific education requirements and complete online courses. The time and effort that you will invest in the certification will pay you off in the long-term by making you stand out from other job applicants.
Can I be a property manager without a license?
More than 90 percent of states require property managers to be licensed. When you begin your career, you would initially work as a subordinate to an experienced and licensed professional, such as a real estate broker. However, depending on your state, you may or may not be required to have a license to work as a property manager. Getting a property management license is challenging because you have to complete a course and pass the state license examination.
On the other hand, if you want to become a board member for a condo or homeowners association, consider taking the condo board certification classes. Also, you have to meet the condominium board member requirements to be part of the association’s board.
Do you need a license to be a property manager in PA?
You do not need a license to work as a property manager in PA. However, licensed property managers in PA are more successful in their careers. Having a license can increase your chances of getting hired. A license, coupled with relevant certifications, can help you negotiate a higher salary and make more money. These credentials are proof of your professionalism, skills, and commitment.
Many property managers get a real estate license to improve their career prospects. You should also consider getting a real estate salesperson’s or broker’s license, in addition to getting certified property manager (CPM), certified manager of community associations (CMCA), or residential management professional (RMP) certifications.
Getting Your First Job
After getting a condominium management license and certification, it’s time you should start job hunting. It may seem challenging, but there are many ways to kick start your job search. To begin with, let your network of friends and industry professionals know that you are looking for a job. Second, connect with real estate agents and community association management companies. Searching online can also help you find a job.
You do not need a license to find a property management job in PA. But having a license can increase your likelihood of getting a job. Initially, you will work as a subordinate to an experienced real estate professional. After gaining experience, you can work as an independent property management professional or work without supervision. Or you can join a property management company to provide service to condominium and homeowner’s associations.
Getting your first job as a property management professional or real estate broker is difficult, but as you gain experience, expand your network, get better opportunities, get continued education, and obtain certifications, you will get better career opportunities. Furthermore, your income will increase with your experience.
Entry-level professionals in property management make about $30,000 per year, according to salary.com. Your education can help increase your salary. Obtaining certification and having a college degree can increase the salary of a new estate broker and property manager by around $11,000. The most experienced real estate broker can make around $57,000 per year. However, your salary can be higher or lower, depending on which state you work in, the competition, the homeowners association you manage, and your qualifications and experience.