With multifamily buildings, who is in charge of the property and how well those people are trained are critically important factors in the successful operation of the community. Board members are a part of this management class, which is often shepherded by a competent property manager. But all property managers are not equal in their abilities and knowledge, and the smarter ones try to bridge the gap.

The best property managers stay current in their industry by keeping abreast of new developments in building technology, administration and communication. While networking with other professionals is a way to stay up to date and reading industry publications like New England Condominium also helps, few things are better for a manager’s professional development than taking continuing education courses.

Opportunities abound, since there are many classes and enrichment programs available to New England’s property management professionals. These programs are not only an industry requirement for some (Connecticut-based property managers must be licensed) they also help improve one’s professional skills. Maintaining certain professional accreditation with industry associations such as the Community Associations Institute (CAI) also necessitates taking such classes.

Staying Current

And to professionals like David Barrett, director of operations at Crowninshield Management Corp. in Peabody, Massachusetts, continuing education is essential to both competency and career advancement. “You may not get hired from a lot of these companies unless you have designations,” says Barrett, who holds the property management designations of CPM, ARM, PCAM, AMS and CMCA. “Nowadays, it’s a competitive work environment with the unemployment and economic situation the way it is. Property management is a complicated trade and it involves a lot of different aspects, from financial management to facilities management, construction and rents. It’s very diverse. And if you’re going to be a professional at it continuing education is essential.”

Connecticut is the sole state in New England with licensing requirements for property managers. Managers are required to pass the Community Association Managers International Certification Board (CAMICB) and the Certified Manager of Community Associations (CMCA) examination, according to the Community Associations Institute (CAI). To get the CAM license, the fee is $60 for the application plus a $200 initial license fee. For more information about these and other Connecticut licensing requirements, please contact the Connecticut Department of Consumer Protection or visit www.ct.gov/dcp. Renewals are $200 annually.

Although the rest of New England doesn’t require licensing, most property management companies require associates hold a designation with CAI and/or the Institute of Real Estate Management (IREM), says Katie Wells, PCAM, CMCA, AMS, director of condominium management at Greater Boston Properties, Inc. “In Massachusetts, there are no licensing requirements, but most management companies do require that their managers get involved with property management organizations and take classes,” Wells says. “At Greater Boston, we require all managers to be members of CAI, take classes and take the CMCA (Certified Manager of Community Associations) exam.”

Property managers must wear many hats in their jobs, and this means having a strong understanding of the different facets the position entails. “The marketplace needs are always changing, so in order for property managers to really stay on top of changes, they really need to keep up educationally,” says Sharon Peters, public relations manager of the Institute of Real Estate Management (IREM), headquartered in Chicago. “The requirements and duties that they had 20 years ago have evolved. A lot of them are getting into asset management in addition to being responsible for bricks and mortar. If they really want to up their mobility in a career, then we encourage all of our members [to take classes]. Because things are changing, and if you want to succeed you really need to pursue lifelong education,” Peters says.

Continuing Ed

IREM provides education to those in property management with two designations—Accredited Residential Manager and Certified Property Manager. The CPM designation requires more time and is more focused on property and asset management. Asset management looks at the operational management and the income side of the property, determining how to get the highest return. IREM offers a wide array of courses to help property managers get up to speed with these ever-growing responsibilities, including classes in marketing and leasing, finances, asset management, human resources, real estate management law, maintenance, operation and risk management, according to Lynne Magnavite, director of training and development at IREM. The classes are each eight hours in length and either run over a two or four day period, and are available all throughout the year. The average IREM member rate per class is $599, while the average non-member rate is $745.

CAI offers both traditional classroom setting courses, as well as online options. In order to retain designations such as a Professional Community Association Manager (PCAM), managers must complete 12 hours of continuing education yearly and get go through re-designation every three years.

Those who are interested in seminars but with little free time in their schedule can sign up for various webinars. CAI offers multiple live and on-demand webinars; upcoming ones include presentations such as Legal Leasing: Restrictions, Enforcement and Flexibility; and Ending the Publicity Wars: How to Diffuse a Media Crisis, among others. Webinars are $69 for CAI members and $99 for non-members. They provide one credit hour towards Certified Manager of Community Associations re-certification, Association Management Specialist re-designation and CAM re-designation. Experts often say the single most important characteristic of a good manager is people skills—a trait that is considered by many to be an innate characteristic, but which can be learned. CAI addresses the need for property managers to learn how to keep the lines of communication open with their associated and keep cool in heated situations by providing multiple courses offering lessons on improving customer service skills such as M-202: Association Communications, which provides managers with the necessary tools to identify and respond to owner needs, address complaints and diffuse anger and managing public relations.

More Than Just a Credential

Regardless of whether a property manager needs certification to satisfy a requirement of employment, the skills he or she will gain through continuing education in the field will be tested in their day-to-day working life. Understanding financial documents, or how to better expedite emergency evacuation of the building during a crisis such as a flood, for example, will come in handy not only for the employee but also for the board, management company and all of the residents who will benefit from the manager having a more detailed understanding of building issues.

While added knowledge, skill set and preparedness are the primary takeaways from IREM and CAI courses, Wells says the networking opportunities they provide are just as educationally beneficial as the coursework. “You get to meet a lot of individuals because people fly out of town to take the classes so you meet managers from other parts of the country and you can learn from being in the class with them,” Wells says. “In this industry, you learn a lot from your peers. So being in the classes, they’re very interactive and you learn how managers feel with different situations and the teachers have a great deal of experience so you learn from how they’ve handled certain situations.”

Barrett, who is also the president-elect of the IREM Boston chapter, highly encourages anyone with an interest in management—not just property managers—to take a basic enrichment course in order gain a greater understanding of the complicated industry of real estate. “The financial management courses that both IREM and CAI have to offer are very beneficial,” Barrett says. “If you are a community association manager or are thinking about going into it, the M-100 from CAI is a good basic course that touches on all the aspects of condominium management.”

While a board member’s desire to know about how to efficiently run his community may be laudable, it’s no excuse for the community’s property manager to not be on top the latest developments in the field. In fact, some say, the property manager has a greater responsibility to know how to best manage the building.

“Owners and investors over the years have looked to property managers to perform more and more functions,” Peters says. “Now owners and investors are looking to property managers for enhanced value of the property. You can even think if this trend continues property managers will essentially be the CEO’s of the properties they manage.”

Jonathan Barnes is a freelance writer and a regular contributor to New England Condominium and other publications. Editorial Assistant Enjolie Esteve contributed to this article.