At the beginning of this year Forbes published an article on data that had been collected by Gallup revealing most and least trusted professions. How, you might ask, is this relevant to property management? Sadly it has become relevant just recently when on June 11 a suit was filed alleging Meridian-based Paradigm Property Solutions, LLC, through its owner, Ronald Jaques, took as much as $750,000 to $1 million from property owners’ trust accounts and moved it to other accounts without permission.
When a company in an industry is accused of fraud, it can affect how people feel about the industry as a whole. To this point, I suggest events in recent years may well be an influence in why Judges, Clergy, Bankers, Newspaper Reporters, Local Officeholders, TV Reporters, Lawyers, Business Executives and Lobbyists all rank low in perceived honesty and ethical standards according to Gallup’s poll.
In Idaho there is no license requirement for the Property Management profession. Literally anyone can hang a shingle out and claim to be a property manager. There are, however national industry organizations that guide, educate and support this industry. The National Association of Residential Property Managers, (NARPM®), is one such organization. Property Management companies who wish to embrace good business practice, excel at their profession, and become a trusted resource supporting the investment real estate industry will align themselves with professional organizations and adopt systems and practices that meet or exceed ethical and business standards set by that organization. The professional designations awarded by NARPM® are earned with a combination of property management experience, NARPM® and industry education, and service to the association through volunteer activities. Marc Banner, owner of Realty Management Associates was implemental in starting the Southwest Idaho NARMP Chapter soon after launching his Property Management business almost 40-years ago. Marc has held positions on the NARPM® board over the years including the position of President for both the local chapter as well as the national organization. Marc teaches ethics classes for NARPM for the northwest NARPM® Chapters, and was the first property manager in Idaho to earn the MPM®, (Master Property Manager), designation. He has since been awarded the Residential Management Professional (RPM®) designation and Realty Management has earned the Certified Residential Management Company (CRMC®) certification which is only awarded to companies that have proved they have attained the highest levels of education and commitment in the property management field. This certification is only awarded after a detailed on-site examination of the company has been performed by a NARPM® auditor selected by the certification committee. This certification must be renewed annually and a review of the company’s procedures is performed every 3 years in order to maintain the certification. Only 3 property management companies in Idaho hold this prestigious certification.
So, despite a few rotten eggs, there are reputable Property Managers to be found, and Realty Management Associates ranks highly among them.
As to the professions of Judge, Clergy, Banking, Newspaper Reporting, Local Officials, TV Reporting, Legal, Business Executives and Lobbyists – I like to believe there are even still a few ethical professionals amongst them too! Well, maybe not lobbyists…