How to Become a Columbus Property Manager… and Earn $93,577!
Here in Ohio, the number of property management professionals is increasing – and with good reason. The median annual salary for a Columbus property manager, for instance, is $93,577, according to Salary.com as of September 1, 2018. And that amount is not even including bonus, commission, and benefits, as well as other factors that impact base pay. Now, also factor in great market access, the standard of living, and valuable tax climate; you can easily see why individuals seek out Columbus, Ohio as a place to start their property management career. Below is an overview of licensing and certification options that may help you decide the path you want to take today.
Recommendations for a Columbus Property Manager Starting Out
Are you looking to begin a career as a Columbus, Ohio property manager? Consider this your ultimate guide to standing out from the crowd. Here are our recommendations for the top certifications, licenses, and schools for property managers in Columbus, Ohio (as well as throughout the state of Ohio).
1.) Government Issued Real Estate License & REALTOR® License:
Many states, including Ohio, require that a property manager have a real estate broker’s license, as well; the only exception to this law is a property owner. Key duties of property managers are typically leasing, renting, negotiating, and managing property listings — or assisting in these duties; these are all considered real estate activities under existing Ohio real estate licensing laws. Besides, as a Columbus property manager, the more you can do, the more you will succeed. Why depend on a real estate broker when you can handle that job, too? Ohio REALTORS partnered with Ohio Association of Community Colleges (OACC) to provide affordable and accessible training; choose a location that’s convenient to you, or there are online options to attend the pre-licensing classes new agents need. Visit ohiorealtors.org or ohiocommunitycolleges.org to inquire.
2.) Residential Management Professional (RMP®):
This NARPM® certification is highly recognized among Columbus property managers. In order to achieve this certification, you must meet certain requirements, including:
- Real estate license
- Two years (minimum) of experience
- Experience managing at least 25 rental units
3.) Certified Property Manager (CPM):
This designation is awarded by the Institute of Real Estate Management (IREM) and recognized by the National Association of Realtors (NAR). To achieve a Certified Property Manager designation, you will be required to take seven different courses (although, there are a few fast track options). The general subject matter of these seven courses are as follows:
- Budgeting, cash flow, and reporting for investment real estate
- Marketing and leasing strategies (either for retail properties, multifamily properties, or office buildings)
- Leading a property management team
- Managing maintenance operations
- Financing and loan analysis for investment real estate
- Performance and valuation of investment real estate
- Asset analysis of investment real estate
You will also be required to create a sample property management plan and have a number of years of experience. However, this designation will, without doubt, set you apart from your peers.
4.) Certified Professional Property Specialist (CPPS):
This certification is ideal for those who are new to the property management industry and are seeking entry as a Columbus property manager. However, this type of designation is a bit different from the other property manager certifications. Professionals responsible for the management of equipment, materials, as well as other moveable or durable assets will benefit from a CPPS. If you are seeking a career as a property manager for a residential or commercial building, you will quickly gain confidence from your future employer with this designation; they will feel assured that you can manage their equipment, materials, and other assets with the utmost professionalism. Provided by the National Property Management Association (NPMA), once you obtain this certification, you may also become eligible for other certifications. For many, this is a necessary first step. In order to qualify:
- Document your work experience.
- Take both the CPPS Module 1 exam and CPPS Module 2 exam.
- Upon passing both exams, you will receive an email from NPMA that includes your CPPS certificate.
5.) Choosing the Right College:
Whether you are seeking out a Property Management Certification, Associates degree in Property Management, Bachelors degree in Property Management, or a Masters degree in Property Management, where you go to school is a huge decision – and investment. There are 63 colleges and universities in the Columbus region; we recommend you choose the school which has a program that will set you apart from others who want to get into Columbus real estate and property management.
In Ohio, there are 29 accredited schools where property management is offered. Will you go to a university or a community college? You decide.
The Difference Property Management Experience Makes
At The Robert Weiler Company, our property managers have been leaders in the Columbus, OH real estate industry since 1938. Our property managers are all licensed and certified and have experienced all Columbus and Central Ohio has to offer when it comes to managing commercial real estate. If you’re managing your own property and decide you need help, give us a call at 614-221-4286. Learn how a Columbus property manager at The Robert Weiler Company can help you today.