CPM study guide
CPM · Work through your exam, one topic at a time.
CPM – Certified Property Manager is a professional designation offered by IREM, the Institute of Real Estate Management, headquartered at 430 North Michigan Avenue, Suite 750, Chicago, Illinois 60611. IREM lists the CPM alongside its ARM, ACoM, CSP and AMO credentials, and maintains a public member directory in which CPM holders appear with their city, state or province and country; the listings reach well beyond the United States, including Canada and Japan. The CPM study guide has 10 sections and about 2,440 words.
01Asset Management
Asset management sets strategy for an income-producing property: hold, improve, reposition, or sell. Property management executes day-to-day operations.
264 words, about 1 min02Finance
Finance questions test how operating decisions reach cash flow. Know the income statement, operating expense ratio, NOI, debt service, before-tax cash flow, cash-on-cash return, and debt service coverage ratio (DSCR).
255 words, about 1 min03Human Resources
Human resources in property management covers job design, recruiting, onboarding, compensation, benefits, training, performance management, employee relations, safety, and separation. Know the difference between exempt and non-exempt employees, especially for overtime and on-call pay.
240 words, about 1 min04Leadership
Leadership sets direction, builds commitment, and develops people; management plans, organizes, controls, and solves problems. Candidates should know situational leadership, coaching, delegation, motivation, feedback, conflict resolution, change management, ethics, and accountability.
235 words, about 1 min05Leasing
Leasing connects marketing, screening, lease execution, and retention. Know the prospect funnel, fair housing requirements, consistent application criteria, lease terms, concessions, security deposits, renewal strategies, and occupancy measures.
251 words, about 1 min06Maintenance
Maintenance protects safety, habitability, asset value, and resident satisfaction. Know work-order intake, prioritization, dispatch, completion, follow-up, preventive maintenance, inventory, vendor management, make-ready turns, deferred maintenance, and capital versus operating classification.
233 words, about 1 min07Managing Your Firm
Managing a property management firm requires business planning, organization design, policies and procedures, client selection, management agreements, pricing, financial controls, quality assurance, technology, and succession. Know the difference between revenue, gross fee income, direct property labor, overhead, and net profit by client.
242 words, about 1 min08Marketing & Communications
Marketing creates qualified leads and converts them into leases; communication protects trust and reputation. Know segmentation, positioning, value proposition, marketing mix, digital channels, response speed, reputation management, resident communications, crisis communication, and fair housing in advertising.
240 words, about 1 min09Risk Management
Risk management identifies, assesses, mitigates, monitors, and finances risk. Know the main exposures: property, liability, employment, fair housing, environmental, cyber, business interruption, contractual, and reputational.
235 words, about 1 min10Sustainability
Sustainability means operating for long-term environmental, financial, and social performance. Know energy and water benchmarking, utility data management, efficient lighting and HVAC, building envelope, waste diversion, indoor air quality, green leasing, resilience, and reporting.
245 words, about 1 min