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Property management associations are local, regional, and national associations that make it possible for real estate professionals involved in managing properties to network with one another. In many cases, these associations function as the means of setting standards for property managers who choose to join these networks. A property management association may also provide continuing education seminars and conferences for members that cover a wide range of relevant topics, including tips for commercial and residential property management.
In many cities, a local property management association will include all real estate agencies that handle rental property management for their clients. Often, this local association will require that any rental property manager must comply not only with local regulations regarding business operations, but also maintain the standards set by the association itself. In addition, the association provides members with a united voice that can seek to inform the public on any upcoming changes in laws or regulations that would have a detrimental effect on property management in the area, and in turn produce negative consequences for tenants and others leasing rental properties.
Along with the local property management association, there is usually a state level or regional association that covers a wider geographical area. Often, local associations have membership in the regional associations, or have some established connection that allows people involved in local rental property management to also belong to the larger organization. Just as the local group offers educational and networking opportunities, the regional group will provide these same benefits on a larger scale.
A national property management association often includes state and regional associations as affiliate members, and provide support services to the smaller groups. The national group may arrange speakers for conventions at rates that local groups could never command, as well as prepare educational materials regarding national legislation that would in turn impact the process of residential and commercial property management at the local level. National organizations often provide at least one annual conference or convention, making it possible for local property managers to network with one another and share ideas and strategies for providing quality support to their clients.
At all levels, the property management association will require members to meet and maintain high standards in terms of how they conduct business and what they offer to their clients. Should a member fail to maintain those high standards, the commercial or residential property manager is often placed on probation and ultimately removed from membership if they continue to be in violation of the criteria set by the organization.
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