Community managers of larger homeowner and condominium associations often hold professional designations that demonstrate their expertise and experience in managing association responsibilities. These credentials signify specialized training in financial oversight, legal compliance, and operational management, ensuring associations are efficiently and ethically managed. Some of the most recognized community association management credentials include:
- Association Management Specialist (AMS®): Requires 2 years of experience, completion of M-200 level courses, and passing the CMCA exam.
- Professional Community Association Manager (PCAM®): Requires 5 years of experience, completion of 6 M-200 level courses, passing the CMCA exam, and a case study.
- Large-Scale Manager (LSM®): Requires a PCAM® and 10 years of experience, including 5 years in large-scale management, plus completing a workshop or M-340 course.
- Accredited Association Management Company (AAMC®): Requires 3 years of experience and credentialed staff with a PCAM® leader.
- Certified Manager of Community Associations (CMCA®): The CMCA certification, offered by the Community Association Managers International Certification Board (CAMICB), requires passing an exam after completing a recognized course or meeting the work experience requirements, demonstrating foundational expertise in community association management.
For details on these credentials, visit the Community Associations Institute’s Professional Credentials page.
Some community managers are also licensed North Carolina Real Estate Brokers. (FYI, I’ve been a broker for 43 years–how time flies!) This month’s eBulletin from the NC Real Estate Commission reminds licensees that when a licensed Real Estate Broker is the manager of an association, additional NCREC legal and financial obligations apply, including:
- Trust Money Compliance – Association funds must be treated as trust money, kept in a dedicated trust/escrow account, and not commingled with other funds.
- Periodic Accounting – Brokers must provide the Board with clear, detailed financial statements at least every 90 days, documenting all transactions and the trust balance.
- Record-Keeping – Brokers must maintain comprehensive records, including deposit evidence, payment records, governing documents, invoices, and management agreements.
- Agency Agreement – Community management agreements must be in writing, signed, and include a definite term and anti-discrimination provisions, per agency agreement rules.
Notably, there are trust account exceptions for volunteer brokers who serve as association officers and receive no compensation for their services.
For details, visit the NC Real Estate Commission article: Property Owners’ Association Managers.