Whether you are dipping your toe in the real-estate buying pool for the first time, or you’re soaking in it after purchasing numerous properties, the Institute of Real Estate Management (IREM) is an organization to take note of.
With close to 18,000 individual and over 535 corporate members, IREM was founded in 1933 to be an “international community of real estate managers across all property types dedicated to ethical business practices and maximizing the value of investment real estate.”
IREM is headquartered in Chicago and has over 80 chapters nationally, as well as chapters in Canada, Europe and South America. The organization runs programs to educate its members and awards them designations upon completion. The designations include Certified Property Manager (CPM), the Accredited Residential Manger (ARM) and the Accredited Commercial Manager (ACoM), according to the IREM website. The courses include asset management, maintenance operations, human resources, risk management and budgets. IREM also has a young professional’s organization, IYP, to enable more student outreach. Its two Chicago-area chapters are IREM chapter No. 23 and the Central Illinois chapter No. 78.
“IREM,” says public relations manager Sharon Peters, who works out of the Chicago headquarters, “believes that management matters and that good management translates into value. Simply put, well-managed properties improve the quality of life for the people who live, work and shop in them.”
“IREM,” she says, “also believes in professional ethics, and in the power of knowledge and the importance of sharing it. IREM is the only professional real estate management association serving both the multifamily and commercial real estate sectors and has 80 U.S. chapters, 13 international chapters, and several other partnerships around the globe.”