If you are lucky enough to have the opportunity to become an Orlando rental property manager, you know that this is no easy task. Those who are successful in property management must know and follow the laws, and need to have good ethics, education, experience, mentors, and legal counsel. It can be difficult to navigate the many issues that can arise for property managers alone. At Specialized Property Management, our 30-plus years of knowledge and experience did not happen overnight. Just like all property managers, we have had our fair share of difficulties and new circumstances that have arisen with tenants. As each new experience comes our way, we have acted ethically, legally, and professionally. If you are a property owner who is trying to navigate property management, we would like to recommend the National Association of Residential Property Managers (NARPM). NARPM offers educational and training opportunities for the beginning, intermediate, and advanced levels of property management. It also provides legislative advocacy on a property manager’s behalf, and so much more. Our Specialized Property Management team encourages you to learn more about NARPM and its commitment to providing a network for Orlando rental property management to create and add professionalism to the industry.
What is NARPM?
The NARPM is an association of real estate professionals who have first-hand experience and knowledge in the single-family and small residential real estate property management industry. Founded in October of 1988, NARPM was created to fill a void for residential property managers and owners. In those times, many single-family homes were managed part-time or on the side by real estate sales agents. They were going about property management on their own, with little to no education or training, and zero opportunities to network with one another. NARPM, which started out with just 13 members, now provides a lasting trade organization for residential property managers to share ideas and experiences, take education courses, seek legal advice, and participate in conferences across the entire country.
With more than six thousand members, NARPM is made up of real estate agents, brokers, managers, and their employees. NARPM fosters high standards of professionalism, fair housing practice, business ethics, and promotes continuing education for Orlando rental property management professionals. Across the United States, a large number of dwellings are occupied by tenants instead of property owners. However, many of these same properties are being managed by either the owners or property management companies. NARPM was designed to be an advocate for property managers in tax law, legislation, legal document requirements, accounting practices, insurance, zoning, building codes, and utilities.
What Resources Does NARPM Offer?
Becoming a NARPM member has endless benefits. The Association publishes The Residential Resource magazine eleven times per year to distribute to its members. This magazine is filled with current industry-related news and information that can assist residential property managers in their everyday tasks. It provides resources for legislative updates, tips on how to make your property more successful, and association news. It has become an award-winning, full-color news magazine.
The Annual Convention and Trade Show was first created in November of 1989. The convention takes place once a year and is held in various parts of the country. It hosts multiple high-profile speakers and always brings a large crowd of attendees. The lineup for the 2020 convention includes Daymond John as the Keynote speaker, Merit Kahn, Juanita McDowell, and Anna Maria Farias. Orlando rental property management viewers can expect a virtual conference in 2020. However, NARPM promises to give viewers just as much, if not more, valuable information than ever before. The in-depth educational content will be presented in a way that those watching can watch and study at their own pace and even revisit the content if desired. The conference will also include live Q and A sessions with presenters, “office hour” interactions, chat sessions, and discussion forums.
NARPM wants to see all property managers in Orlando succeed. That is why it offers a New Member Mentor Program where a less experienced property manager has the opportunity to learn and interact with a NARPM member who has a higher level of expertise in the field. The main objective of the mentoring program is to maximize new member retention. New NARPM members also have the chance to network with other members across the country and learn from their experiences. Discussion Boards have proved to be very effective in sharing questions and concerns as they arise, and also promoting a sense of community.
Conferences and Education Courses for Orlando Rental Property Management
Are you #NARPMSmart? The Association believes in continuing education courses for property managers with all levels of experience. NARPM offers workshops and courses that empower and teach members how to better serve tenants, become more efficient, maximize profitability, and use effective marketing techniques. The various classes cover topics such as maintenance, owner and client relations, technology, marketing, and tenant retention. These courses are offered online so that property managers can maximize their time and devote more attention better to their clients, tenants, and properties. Members can select courses based on the amount of time that they have available to devote to studying. Classes can take anywhere from two hours, three hours, or up to six hours to complete. Some of the courses include the following topics:
- Paperless Office
- Legal Updates: Lead-Based Paint Law
- Disaster Planning
- NARPM Ethics
- Fair Housing
- HR: From Start to Finish
- Habitability and Maintenance
- Developing Rewarding Owner Relationships
- Profitability and Client Relations
- Marketing for Residential Property Management
- Risk Awareness
If you are an Orlando rental property manager seeking more education and expertise in the industry, take a look at the full list of online courses currently offered by NARPM.
Code of Ethics
Following a Code of Ethics has increasingly become a priority for NARPM. In 1994, NARPM formalized and adopted a Code of Ethics and Standards to establish a level of professionalism, uphold the highest standards of business ethics, and fair housing practices. The Code of Ethics and Standards states that all residential property managers who are practicing members of NARPM adhere and abide by the standards. A portion of the Code of Ethics states the following:
- Property managers should protect the public against fraudulent practices, misrepresentation, and unethical practices.
- Property managers should not discriminate against any person and remain consistent with Fair Housing Laws and all local, state, and federal laws regarding discrimination.
- Property managers should act in the best interest of the client.
- Property managers have an obligation to tenants to treat them with honesty and integrity during all stages of the leasing process including application, occupancy, vacating, and security deposit refund processes.
- Orlando rental property management firms should make certain that advertisements are accurate and forthright.
- Property managers in Orlando should receive funds on behalf of a client and manage those funds in compliance with state law.
- Property managers should regard the health and safety of tenants and manage in accordance with habitability requirements.
If you agree with the above statements, joining NARPM and pursuing the role of a property manager is right for you.
How is NARPM Helping Property Managers During COVID-19?
The worldwide pandemic came as a surprise to everyone. Unfortunately, some were less prepared than others and were affected by the pandemic more severely than others. At Specialized Property Management, we want you to know that our hearts and thoughts go out to those who are sick, have lost loved ones, suffered financially or economically, or struggled in any capacity due to COVID-19.
It does, however, bring us great satisfaction to know that NARPM is aware of these unprecedented circumstances that Orlando rental property management teams and private landlords are facing in 2020. That is why a page has been added to the NARPM website since the start of the pandemic to assist property managers in learning how to run a legal and successful real estate business amid the pandemic. On the NARPM website, members and non-members can access free resources that have been shared by many residential property managers educating them on how they are running a business with COVID-19 by sharing webinars, videos, papers, templates, and more. If you are struggling to collect rent payments, NARPM has resources for you. If you are struggling to stay on budget with maintenance, NARPM has resources for you.
Can I Get Involved?
In order to become a member of NARPM, individuals must be one of the following:
- Actively involved in the management of rental properties as agents for others
- Licensed in the state they are operating (if that state requires licensing)
- An employee of a company or property owner that handles residential property management
If you fall into one of these categories above, and are in compliance with Orlando rental property management laws, you can apply to become a NARPM member. With the rapidly growing number of NARPM members in the Orlando area, there are now local leadership positions available within NARPM.
Unlock the resources that can take your business to new heights. For more information, contact Specialized Property Management Orlando or NARPM today.