Answering the challenges of today's management standards.

In this day of security concerns, emergency planning and disaster recovery, rising insurance costs and mold, (to name a few hot topics), a day in the life of a property manager has changed tremendously.

And so have the standards for property managers.

Owners and investors are demanding more from management professionals --from financial acumen to high standards of integrity.

Gone are the days when fixing the plumbing and collecting rent is considered management.

The real question is, "How is our industry is answering these challenges?"

We are recruiting and retaining more qualified, talented, and seasoned professionals.

And there is no doubt that salaries have increased, both for those first entering the field as well as senior executives.

Another interesting development is the expanding dialogue in our industry and legislative bodies about creating objective standards for property managers.

While we continue to debate various licensing proposals, there is an existing standard that has been in place for decades: the Certified Property Manager[R] designation.

Awarded by the Institute of Real Estate Management (IREM), the CPM[R] designation demonstrates an individual's achievement of completing a rigorous curriculum of education and demonstration of substantial experience in property management.

CPMs[R] also adhere to a strict code of ethics.

IREM's mission statement reads, in part: "IREM's mission is to educate real estate managers and certify the competence and professionalism of individuals and organizations engaged in the management of real estate."

CPMs[R] are considered "versatile specialists." They are trained to handle a full range of management tasks with skills that include asset management, administration, legal, social, economic, and physical areas essential to property performance.

Most CPM[R] members are experienced in managing mixed portfolios that include office buildings, residential rentals, cooperatives, condominiums, subsidized housing, retail properties, shopping centers, and industrial parks.

Over $879 billion in real estate assets are managed by CPMs[R] nationwide including 10.2 million residential units and 8.0 billion square feet of commercial space.

While some in the industry--as well as some elected officials--debate the pros and cons of requiring property managers to be licensed by the government, well informed and savvy owners continue to seek out Certified Property Managers[R] as the best source of highly educated, seasoned, talented, and ethical professionals to watch over their real estate assets.

MICHAEL J. MARTINO, CPM

PRESIDENT, GREATER NEW YORK IREM