Julie Terry recently earned the Institute of Real Estate Management’s Certified Property Manager designation. Terry has more than 30 years’ experience in property management, including 17 years with Property Advisory Group Inc., where she currently serves as a property manager. Terry graduated from Katharine Gibbs School before earning an associate degree in information technology from the New England Institute of Technology. She is a member of the Institute of Real Estate Management, New England Affordable Housing Management Association and the National Association of Home Builders.
PBN: What does one have to do in order to achieve the Certified Property Manager designation?
TERRY: First, one must become a certified property manager candidate. To achieve this certain experience criteria must be met and the application must be approved by the local Institute of Real Estate Management (IREM) chapter. The IREM allows a period of 10 years to complete the process. During this time a series of courses must be taken and passed. Courses range from ethics to property maintenance to marketing to financing and valuation of investment real estate. The final step is to prepare a management plan for a specific property and pass the CPM Exam. In addition, certain experience requirements in the property management field must be met.
PBN: How does this certification complement your 30 years of experience, and how will it benefit you moving forward?
TERRY: Through the years I have been able to apply the knowledge I had gained from the early courses (ethics, property maintenance and marketing and leasing) to my position as a site manager. The latter courses (financing and investment) gave me a greater insight into the acquisition and development aspect of property management, in addition to giving me the opportunity for advancement. Achieving the CPM designation has opened up many doors of opportunity which may not have been afforded to me previously.
PBN: How has your role as a property manager changed over the past few years?
TERRY: Personally, my role as a property manager has changed significantly during the last few years, in large part due to my pursuit of the CPM designation. This includes taking on additional responsibilities as a senior property manager. My portfolio consists of federally subsidized and low-income housing tax-credit properties. The Department of Housing & Urban Development is continually changing and updating their rules and regulations, which in turn affects the role of the property manager. •