The Institute of Real Estate Management certifications as of 2010 are ARM (accredited residential manager) and CPM (certified property manager). While both designations qualify an individual to manage residential properties, achieving the CPM designation requires more education and experience.
Before any institution will approve an application for an ARM or CPM property management designation, you must achieve relevant experience in property management. To achieve an ARM certificate, you must have at least one year in the field; for a CPM certificate, you must have a minimum of three years of experience.
Both residential management designations require that you undergo training that involves the successful completion of a specific series of classes. Obtaining a bachelor's or master's degree in real estate or property management may absolve you from having to complete the required coursework to receive the designation.