ARM (IREM) study guide
ARM · Work through your exam, one topic at a time.
The Accredited Residential Manager (ARM) is a professional credential offered by the Institute of Real Estate Management (IREM) for people who manage residential real estate - typically apartment communities, multifamily portfolios, and other residential rental property. It sits alongside IREM's other credentials, such as the CPM for property managers working across asset classes and the ACoM for commercial managers, and it signals that the holder has demonstrated competence in the day-to-day operation of residential property rather than commercial or mixed portfolios. The ARM study guide has 5 sections and about 1,735 words.
01Residential Property Management Operations
The ARM sits at the center of a three-party relationship: owner, residents, and the management firm. The management agreement governs everything - scope of services, fee basis, spending authority, reporting requirements, insurance obligations, and termination terms.
371 words, about 2 min02Leasing and Marketing
Marketing begins with a competitive survey: what nearby communities charge, what concessions they offer, what utilities are included, and where your property sits in that grid. From it come a positioning statement, a target resident profile, and a marketing plan with budget, channels, and measurable goals.
360 words, about 2 min03Financial Management and Budgeting
Budgets are built bottom-up from the rent roll and market rents, then spread monthly. Revenue lines: gross potential rent, vacancy and concession loss, collection loss, and other income (fees, utility reimbursement, parking, pet rent, laundry, storage, damages).
333 words, about 2 min04Maintenance and Risk Management
Preventive maintenance is scheduled work that prevents failure: HVAC service, roof and gutter inspections, pest control, backflow testing. Routine or corrective maintenance responds to reported issues.
343 words, about 2 min05Human Resources and Ethics
Hire against a written job description using consistent criteria, and document interviews. Onboard with policy acknowledgment, safety training, and fair housing training.
328 words, about 2 min