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Invest in Your Company’s FutureBecome an AMO
AMO Member Firms Stand Apart from the Competition The AMO® – Accredited Management Organization® – accreditation is the only recognition of excellence given to real estate management firms. It is a mark of distinction based on industry standards and best practices that are relevant to real estate management firms, their clients, and the assets they manage – a clear demonstration to owners, investors, and clients that their properties are in the best possible hands.
• NearlyhalfofAMOFirmshavebeeninbusinessformorethan20years,andmorethan80%havebeenestablishedfor atleastadecade.
• Only550realestatemanagementfirmsholdthisprestigiousaccreditation,yetmanageasignificantsegmentofthe nation’srealestate–morethan$123billioninassets,over1millionresidentialunits,andnearly550millionsquarefeet ofcommercialspace.
• AMOFirmsarepartofaglobalassociationthatincludesofficers,owners,partners,anddepartmentheadsofexpert realestatemanagement-relatedbusinessesandfinancialinstitutions.Yourfirmwillbenefitfromtheexchangeofin valuableinformationthatcanonlycomethroughassociationwithprofessionalsatthehighestlevel.
IREMisacommunityofrealestatemanagersdedicatedtoethicalbusinesspracticesandmaximizingthevalueofinvestmentrealestate.Webelievethatgoodmanagementmatters,andthatwell-managedpropertiespaydividendsintermsofvalueandinthequalityoflifeforresidents,tenantsandcustomers.Webelieveinprofessionalethics.Webelieveinthepowerofknowledgeandtheimportanceofsharingit.
Benefits of AMO Membership Propertyowners,investors,andclientsaroundtheworldareseekingrecognizedprofessionalswhoworktothehigheststandards–thekindofrecognitionthatAMOaccreditationrepresents.AMOFirmsenjoythesebenefits:
• Competitiveadvantageinamarketplaceseekingtomaximizeinvestmentopportunitiesandminimizerisk• ProfessionalstatureresultingfromindependentvalidationbyIREMofcompliancewithprofessionalstandards andpractices.• IndustryknowledgethatcomesfrombeingconnectedtoIREManditsvastlibraryofrealestatemanagement andbusinessresources• AnengagednetworkthatoffersAMOFirmsinstantaccesstofellowprofessionalslocally,nationally,internationally, andvirtually–alleagertoexchangebestpracticesandideaswithfellowcolleagues InadditiontotheprestigeandrecognitionafirmgainsfromtheAMOcredentialaretheseservicesandpromotionalopportunities:
Member pricing for all employees on IREM education.Promoteyouremployees’professionaldevelopment.AllemployeesofanAMOFirmemployeescanattendIREMcoursesatthememberrate–asavingsof20%offtheregulartuition.Thisappliestobothclassroomandonlinecourses,andtobothcredentialingcoursesandongoingprofessionaldevelopmentopportunities.Toreceivethememberrate,employeesmusttoregisterbyphoneandprovideIREMwiththeAMOcompany’sname.
Private classroom and online IREM education.LetIREMbecomeyourtrainingpartnerbyincorporatingIREMeducationintoyourcorporateprofessionaldevelopmentprogram.WhetheremployeesaretakingthecoursestoearnanIREMcredentialorsimplytoenhanceknowledgeandexperience,theycanbenefitfromprivatein-houseclassroomtrainingledbypractitioner-instructorsorfromrobustonlinecoursesthatpermitthemtolearnattheirownpace.
Listing in IREM’s online AMO Directory.ThevisibilityofAMOFirmsisraisedthroughtheirlistingsonIREM’sonlineAMODirectory,easilyaccessibletopropertyowners,investors,andclients.TheonlineAMODirectoryisavailable24/7andcanbesearchedinmultipleways:bycompanyname;bycity,stateorprovince,orcountry;bypropertytype;orbyservicesprovided.OngoingpromotionaleffortsbyIREMHeadquartersdirectrealestateinvestorstothislisting.
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AMO Insider.ExclusivetoAMOExecutiveCPMs,theAMOInsiderisamonthlyonlinenewsletterfocusedonprovidinginformationforindustryleaders.
Tools to promote the company as an AMO.Raisetheprofileofyourcompany–andgainnewbusiness–throughutilizationofmarketingprogramsandtacticspromotingAMOFirmstoownersandinvestors.
Job board listings.AMOfirmscantakeadvantageofthe30%discountallIREMmembersgetoffjobpostingsonIREM’snationaljobboardatwww.IREMjobs.org–theonlyjobboardexclusivelyforrealestatemanagement.
Promotion of AMO.IREMpromotesthevalueofhiringanAMOfirmtopropertyownersandinvestorsthroughextensivemarketingprograms.FirmscanextendthereachbydisplayingtheirAMOcertificatesandAMOCodeofProfessionalEthicsintheiroffices,includingthemintheirbusinessproposals,andpromotingthat“thispropertyismanagedbyanAMO”atallmanagedproperties.
Legislative and regulatory representation.Knowthatyourfirm’sandyourclients’bestinterestsarerepresentedinthelegislativehallsofthenation,andkeepontopofthelatestdevelopmentsconcerninglegislationaffectingrealestatemanagement–inyourstateandatthenationallevel.
AMO crime insurance.ThroughtheAMOCrimeInsuranceProgramofferedbyScarbrough,Medlin&Associates,Inc.,AMOfirmscanobtaintheAMO-requiredinsurancecoveragesatcompetitiverates.Formoreinformation,callRodneyMedlinatScarbrough,Medlin&Associatesat(800)-929-2446.
IREM Certified Sustainable Property Certification. AsanAMOfirm,sustainabilityisnotjustaboutgooddesign-it’sabouttheassetperformancethatresultsfromqualitypropertymanagement.TheIREMsustainabilitycertificationisanachievable,cost-effectiverecognitionthatassessessustainabilityperformanceinfivecategories:energy,water,health,recycling,andpurchasing.What’smore,itappliestoallassetclasses–officebuildings,retailproperties,andmultifamilyproperties.
Obtainingthisrecognitionwilldemonstratequality,responsiblemanagementtoclients;provideaplatformfortrainingstaffonsustainabilityandresourceefficiency;andcreatesanopportunitytomarketthecertifiedpropertytotenantsandthebroadermarketplace.AMOfirmsreceiveaspecialincentivetoapplyforthecertificationfortheirpropertiesatonly$400–a50%discount.
Best Practices: Real Estate Management Service. TheframeworkfortherequirementstoacquireandmaintaintheAMOaccreditationcomesfromIREM’sBest Practices: Real Estate Management Service.AllCPMmembershaveaccesstodownloadthisdocumentatwww.irembooks.org
AMOsalsohaveaccesstothe“IREMBestPractices:RealEstateManagementService”workshop.Theworkshopcoversthefollowingtopics:
• IntroductiontoIREM’sBestPractices• ReviewandassessmentusingtheBestPractices• HowtouseBestPracticesinyourcompany• Wrap-upandQ&ATopic/Objective
AMOsareabletoadvantageofthisresourcebyhostingabestpracticesworkshopforemployeesatnocost.
Become an AMO Firm today!
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A CPM® in ChargeYourfirmmusthaveaCPMinanexecutivepositionwho,foratleast180daysimmediatelypriortoapplyingfortheAMOaccreditation,hasdirectedandsupervisedthefirm’srealestatemanagementactivities.Thispersonwillbereferredtoasthefirm’s“ExecutiveCPM”andwillbeverifiedaspartoftheapplicationprocessfromthefirm’sorganizationchartandduringtheIREMChapterverification.TheExecutiveCPMisalsoresponsibleforensuringyourfirmremainscompliantwiththeAMOrequirements,includingthecrimepolicy.
TheCPMwhoqualifiesasthefirm’sExecutiveCPMmusthaveauthorityand/orresponsibilityfor: •Deliveryofthefirm’srealestatemanagementservices. •Developingthefirm’srealestatemanagementpoliciesandprocedures.
TheCPMmustalsohaveauthorityand/orresponsibilityforatleastfourofthesesixfunctions: •Hiringandfiringrealestatemanagers. •Establishingthefirm’sgoalsandobjectives. •Determiningtheservicesofferedbythefirm. •Negotiatingmanagementagreementswithclients. •Bindingmanagementagreementswithclients. •Trainingandsupervisingthefirm’srealestatemanagers.
EducationThe CPM who qualifies as your firm’s Executive CPM must successfully complete two AMO education requirements:
Education Requirement 1: successfully completed one of the following:
• BDM601:GrowthStrategiesforRealEstateManagementCompanies,andHRS603:Today’sLeadershipChallenges– bothcurrentlybeingofferedinonlineformat
• 701:ManagingtheManagementCompany–offeredpriorto1997 • BDM603:BuildingaBestPracticeRealEstateManagementCompany
Education Requirement 2: successfully completed one of the following:
• ETH800:EthicsfortheRealEstateManager–offeredintheclassroom • ETH001:RealEstateManagementEthicsOnline–offeredonline
Becoming an AMO
Business Stability and Fiscal ResponsibilityYourfirmmust:
•Becurrentlyengagedinrealestatemanagementandhavebeensoforatleastthreeyearsimmediatelypriorto submissionoftheAMOapplication. Haveexperiencednomorethanonenamechangeduringtheimmediatelyprecedingthreeyears. Haveexperiencednomorethanoneownershipchangeduringtheimmediatelyprecedingthreeyears.Ifan ownershipchangehasoccurredwithintheimmediatethree-yearperiod,yourfirmmaystillbeeligible foraccreditationif:(1)itwasacquiredbyafirmwhichitselfhadbeeninbusinessforatleastthreeyears andtherewasnochangeofasubstantialnature,or(2)thechangewasduetoadevise,aninterfamilysale, oranemployeeparticipationinabuyout,providedcertainconditionsaremet.
•Meetspecificstandardsforoperationsofthefirm.
•Meetspecificstandardsforservicingtheclient.
•Perform18of28functionsrelativetooperationsofthefirm,servicingtheclient,andmanagingproperties.
Anindependentcreditcheckwillbeperformedtoconfirmtheinformationonyourapplication.Inaddition,afirmisnoteligibleforAMOstatusifitoritsparentcompanyhasfiledforreorganizationunderChapter11ofthefederalBankruptcyCode,untilsuchtimeasithasbeendischargedofitsdebtsandhasconductedbusinesssuccessfullyforthreeconsecutiveyears.
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Branch OfficesTheaccreditationofafirmasanAMOappliestothefirm’sprincipaloffice(referredtoastheAMOHeadquarters)andalsoextendstoanyandallofthefirm’sbranchoffices.Abranchofficeexistswhereverthesecriteriaaremet:
• Realestatemanagementisperformedoutoftheoffice.• TheofficeisanextensionofandunderthecontrolorsupervisionoftheAMOHeadquarters.• Theworkperformedtherebenefitsthemanagementfirmasawhole,notexclusivelyaspecificproperty.• Thereisatleastonefull-timeemployeeofthecompanyattheofficewhocanbecontactedforbusiness.• Thephoneislistedandansweredinthecompanyname.
Onyourapplication,youmustlistallofthefirm’sofficesthatmeettheabovecriteria.Branchofficesmaybeaddedorremovedthroughouttheyear.
EthicsAllAMOFirmsmustabidebytheAccreditedManagementOrganizationCodeofProfessionalEthics,whichisstringentlyenforcedbyIREM.TheAMOCode,whichisincludedonpage7ofthisbooklet,regulatessuchvitalareasasdutiesandrelationshipswithclients,thepublic,andothersintheindustry.
TheExecutiveCPMisheldresponsiblenotonlyforhisorherownethicalconductbutalsofortheconductoftheindividualsemployedbythefirminarealestatemanagementcapacity.TheExecutiveCPMisalsoresponsibleforinformingandtrainingemployeesabouttheAMOCode.Ideasinclude:displayingaframedcopyoftheAMOCodeprominentlyinthefirm’srealestatemanagementoffices,and/orincludingacopyoftheAMOCodeandasummaryoftheAMOHandbookinthefirm’semployeehandbook.(AnAMOCodeandaMembershipHandbookareprovideduponapprovalasanAMOFirm.)
ComplaintsmaybefiledagainstanAMOFirmifthereisreasonablecausetobelievetheAMOCodeand/ortheIREMCodeofProfessionalEthicsmayhavebeenviolated.Ultimately,afirm’saccreditationcanbeterminatedorsuspended,oraletterofcensurecouldbeissuedforviolatingtheCode.
Insurance CoverageYourfirmmusthavethefollowingtwotypesofcrimeinsurancecoverages:
1. Afidelitybond(employeedishonesty)coveringallmanagementemployees,officers,andownersofthefirminanamountequaltoatleast10%ofthefirm’sgrossmonthlycollections,withaminimumrequiredvalueof$10,000andamaximumrequiredvalueof$500,000.Thedeductiblemaynotexceed$5,000or5%,whicheverisgreater.
2. Depositor’sforgeryandalterationsinsuranceintheminimumamountof$25,000.Thedeductiblemaynotexceed$5,000or5%,whicheverisgreater.
ThefollowingdocumentationmustbesubmittedwithyourAMOapplicationtoassurethatyourfirmmeetstheinsurancerequirements:
1. Acertificateofinsurancethatspecificallyincludesallofthefollowing:
• FidelityBondorEmployeeDishonestycoverage,thespecificamountofthecoverageandthedeductible.• Depositor’sForgeryandAlterationscoverage,thespecificamountofthecoverageandthedeductible.
2. Verificationfromthefirm’sinsuranceagentthattheseadditionalguidelinesaremet:
• ThebondingcarrierisratedbyA.M.BestorStandardandPoorsasatleastB+.• Thepolicyutilizediswrittenonalosssustainedformordiscoveryformwhichallowsfordiscoverya
minimumof60daysandamaximumof12monthsafterterminationofthepolicy.• Thepolicydoesnotincludeendorsementsrequiringprosecutionandconvictionproceedingsagainstperpetrators.• Verificationthatthedeductiblesdonotexceed$5,000or5%.
ThroughScarbrough,Medlin&Associates,Inc.,IREMoffersAMOFirmsandapplicantfirmstheopportunitytoobtaincoverageintheAMOCrimeInsuranceProgramatcompetitiverates.FirmsthatobtaintheircrimeinsurancethroughthisprogramwillbedeemedtohavemettheAMOinsurancerequirementandonlyneedtoprovideacertificateofinsurance.Formoreinformationonthisprogram,contactRodneyMedlinatScarbrough,Medlin&Associatesat(800)929-2446.
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Completing Your AMO Application
• Complete,gather,andsubmittheapplicationandallofthesupportingdocumentsinonepackage.Thisallowsyoumorecontroloverthe timingandcompletionofyourapplicationandensuresthatnosupportingdocumentsaremissingorlostinthemail.Noapplicationwill beprocesseduntilalloftherequiredsupportingmaterialsarereceived.Failuretocompletealloftheformswillmeanadelayin processingyourapplicationandyourapprovalasanAMOFirm.(Pleasedonotbindyourapplication.)
• CompletethetoppartofeachConfidentialLetterofRecommendationandputyouraddressonthereturnenvelopes.Thelettersshould becompleted,sealed,andsignedbyyourreferencesandreturnedtoyou.Asacourtesy,youmayalsowanttostamptheenvelopes. ThensubmitthesealedenvelopeswithyourfullAMOapplication.(Referto“OtherRequirements”above.)
Important Note: ConfidentialLettersofRecommendationcannotbedatedmorethan12monthspriortoreceiptatIREMHeadquarters.
• Mailtheoriginalapplicationandonecopyto:
AMOApplication InstituteofRealEstateManagement 430NorthMichiganAvenue Chicago,IL60611-4090
AMO Approval Process
• Whenyourfirm’sapplicationisreceivedatIREMHeadquarters,itwillbeprocessedto determinethateverythinghasbeenproperlycompleted.Youwillbesentawritten confirmationwithintwoweeks.Missingitemswillbeidentifiedinyourconfirmation letterandcoulddelaytheprocessingofyourapplication.
• Atthesametimethatyourapplicationconfirmationletterissenttoyou,yourapplication willbesenttothelocalIREMChapter.Thechapterwillcontactyoutodiscussyour applicationandansweranyquestions.Thechapter’srecommendationforapproval isneededtobecomeanAMOFirm.(No confidential information is shared with the chapter.)
• Uponreceiptofthechapter’srecommendation,andassumingyourfirm’sfileisinorder,your firmwillbeapprovedasanAMO.Youwillreceivewrittenconfirmationalongwithanew firmwelcomekit.Withintwoweeks,thechapterwillbesentyourpersonalizedAMO certificateandanAMOCodeofProessionalEthics.Atanupcomingchaptermeetingyour firmwillbeformallyinstalledasanAMOFirminfrontofyourpeers.
• YouwillbeinvoicedforyourproratedAMOduesforthecurrentyear;nationalduesforthe fullyearare$475forHeadquarter’sduesand$110foreachbranch.Youwillthenbe invoicedforannualdueseachsubsequentcalendaryear.Youarerequiredtopayyourdues annuallytomaintainyourmembership.
• Theentireprocessfromapplicationreceipttoapprovalfortheaccreditationcan take30-60days.
Other Requirements•SubmittheAMOapplicationwiththenon-refundableapplicationfee,whichis$425.•Submitthreeconfidentiallettersofrecommendation.(FormsareincludedwiththeAMOapplication.)Twoofthethreelettersmustbefromthefollowinginanycombination:aclientofthefirm;thefirm’saccountant;thefirm’sattorney;thefirm’sbank;atenantorresident.Thethirdlettershouldbefromabusinessassociateofthefirm.•BeinterviewedandrecommendedforapprovalbythelocalIREMChapter.
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Maintaining the AMO Accreditation___________________________________________________________________
EthicsYourfirmmustcontinuetoabidebytheAMOCodeofProfessionalEthicsandtheIREMCodeofProfessionalEthics.
Firm Name or Ownership ChangesIfyourfirmchangesitsnameorownership,IREMmustbenotified,andthechangemustbeapprovedtocontinueyourAMOaccreditation.Ifasubstantialchangeinthefirm’smanagementmethods,policies,orexecutivepersonneloccurred,thefirm’sAMOstatusmaybereconsidered.
Executive CPM ChangesAMOFirmsmustatalltimeshaveaCPMdirectingandsupervisingthefirm’srealestatemanagementactivity.IfyourapprovedExecutiveCPMleavesthefirm,yourfirmwillhave180daysfromthedateofdeparturetoreplacethatpersonandoneyearfromthedateofthedepartureforthenewExecutiveCPMtocompletetheAMOeducationrequirement.IfyourfirmfailstoreplacetheCPMinthe180daysorthenewExecutiveCPMfailstocompletetheeducationrequirementintheone-yearperiod,thefirm’sAMOstatuscouldbeterminated.
ReaccreditationToguaranteetheintegrityoftheAMOprogramandensurethatallAMOFirmsremainincompliancewiththerequirements,eachAMOFirmmustbereaccreditedatleasteverythreeyears.Toreaccreditate,eachAMOFirmmustprovide:
• Acompletereaccreditationapplicationandfee,whichverifiesthefirmstillhasaqualifiedExecutiveCPMandotherinformation.
• Acurrentcertificateofinsuranceandverificationfromtheinsuranceagentevidencingtherequiredinsuranceguidelines.
• Theappropriateinformationaboutbranchoffices,ifapplicable.• Anindependentcreditcheckmayberequestedasneededforthereaccreditationprocess.
DuesAMOFirmsmustpayannualdues.AMOduesare$475fortheheadquartersofficeand$110foreachbranchoffice.Theheadquartersofficeisbilledforallbranchdues.
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AMO® Code of Professional Ethics IntroductionThepurposeofthisCodeofEthicsistoestablishandmaintainpublicconfidenceinthehonesty,integrity,professionalism,andabilityoftheprofessionalrealestatemanagementorganization.TheInstituteofRealEstateManagement(IREM®)anditsMembersintendthatthisCodeandperformancepursuanttoitsprovisionswillbebeneficialtothegeneralpublicandwillcontributetothecontinueddevelopmentofamutuallybeneficialrelationshipamongAccreditedManagementOrganization(AMO®)MemberFirms(AMO®Firms),andotherMembers,nationalandinternationalprofessionalrealestateassociationsandorganizations,clients,employersandthepublic.
TheInstituteofRealEstateManagement,astheprofessionalsocietyofrealestatemanagement,seekstoworkcloselywithallothersegmentsoftherealestateindustrytoprotectandenhancetheinterestsofthepublic.Tothisend,AMO®FirmsoftheInstitutehaveadoptedand,asaconditionofmembership,subscribetotheAMO®CodeofProfessionalEthicsandtheIREM®CodeofProfessionalEthics.
The AMO® Firm Pledge•ToadvanceprofessionalrealestatemanagementthroughthemutualeffortsofAMO®FirmsoftheInstituteofRealEstateManagementandbyanyotherpropermeansavailable.
•TomaintainthehighestmoralandethicalstandardsconsistentwiththeobjectivesandhigherpurposeoftheInstitute.
•TocomplywiththeprinciplesanddeclarationsoftheInstituteofRealEstateManagementassetforthinitsBylaws,StatementofPolicies,theAMO®CodeofProfessionalEthicsandtheIREM®CodeofProfessionalEthics.
Article 1. Services to Client Inaccordancewiththemanagementagreement,anAMO®Firmshallmake,orcausetobemade,regularphysicalinspectionsoftheclients’propertiesandshallkeepitsclientsinformedastotheconditionoftheproperties.AnAMO®Firmshallcompetentlymanagethepropertiesofitsclientswithdueregardfortherights,responsibilitiesandbenefitsofthetenants,residentsandotherslawfullyontheproperty.AnAMO®Firmshallnotengageinanyconductthatisinconsciousdisregardforthesafetyandhealthofthosepersonslawfullyonthepremisesoftheclient’sproperty.
Article 2. Contractual DutiesAnAMO®Firmshallperformitscontractualdutiesandmaintaincompany,property,andclientrecordsinaccordancewithallapplicableregulatoryguidelines,contractualobligations,clientobjectivesandcompanypolicies.Itshallnotactbeyonditscontractualscopeofauthorityasanagentwithoutdocumentedclientapproval.
Article 3. Accounting AnAMO®Firmshallestablishandadheretosoundinternalfinancialcontrolsforhandlingallcompanyfundsandclientfunds.Itshallmaintain,andupdateasneeded,anaccountingsystemthatcomplieswithacceptedaccountingprocedures,clientdirectivesandobligations,applicablelawsandregulationsandsupportscompanyoperations.
Article 4. Reporting Pursuanttothetermsofthemanagementagreement,anAMO®Firmshallusereasonableeffortstoprovideaccurate,auditablefinancialandbusinessrecordsanddocumentationconcerningeachassetmanagedfortheclient,whichrecordsshallbeavailableforinspectionbytheclientatallreasonabletimes.AnAMO®Firmshallfurnishtotheclient,atmutuallyagreeduponintervals,regularreportsconcerningtheclient’sassetsundermanagement.AnAMO®Firmshallnotexaggerate,misrepresent,orconcealmaterialfactsconcerningtheclient’sassetsoranyrelatedtransactions.
Article 5. Fiduciary ResponsibilityAnAMO®Firmshallatalltimesserveasafiduciaryfortheclientandshallnotcomminglepersonalorcompanyfundswiththefundsofaclientoruseoneclient’sfundsforthebenefitofanotherclient,butshallkeeptheclient’sfundsinafiduciaryaccountinaninsuredfinancialinstitutionorasotherwisedirectedinwritingbytheclient.AnAMO®Firmshallatalltimesexertduediligenceforthemaintenanceandprotectionoftheclient’sfundsagainstallreasonablyforeseeablecontingenciesandlosses.
Article 6. Relations with Other Organizations in the ProfessionAnAMO®Firmshallnotmake,authorizeorotherwiseencourageanyfalseormisleadingcommentsconcerningthepracticesofMembersoftheInstituteofRealEstateManagementandotherrealestatemanagementprofessionals.AnAMO®Firmshalltruthfullyrepresentmaterialfactsintheirprofessionalactivities.AnAMO®Firmshallnotexaggerateormisrepresenttheservicesofferedascomparedwiththeservicesofferedbyotherrealestatemanagementcompanies.NothinginthisCode,however,shallrestrictlegalandreasonablebusinesscompetitionbyandamongrealestatemanagementcompanies.
Article 7. Conflict of Interest AnAMO®Firmshallnotrepresentpersonalorbusinessinterestsdivergentfromorconflictingwiththoseoftheclientandshallnotaccept,directlyorindirectly,anymaterialrebates,gifts,fees,commissions,discounts,orotherbenefits,monetaryorotherwise,whichcouldreasonablybeseenasaconflictwiththeinterestsoftheclient,employer,orfirm,andwhicharenotdisclosedtotheclient.
Article 8. Disclosure AnAMO®Firmshallnotdisclosetoathirdpartyanyconfidentialorproprietaryinformationwithouttheclient’spriorwrittenconsentexceptwhendisclosureisrequiredorcompelledbyapplicablelawsandregulations.
Article 9. Compliance with Laws and RegulationsAnAMO®Firmshallbeestablishedincompliancewithallapplicablelawsandregulations.AnAMO®Firmanditsemployeesshallatalltimesconductbusinessactivitieswithknowledgeofandincompliancewithallapplicablelawsandregulations.
Article 10. Equal OpportunityAnAMO®Firmshallnotdenyequalemploymentopportunityorequalprofessionalservicestoanypersonforreasonsofrace,color,religion,sex,familialstatus,nationalorigin,age,sexualorientation,genderidentity,orhandicapandshallcomplywithallapplicablelawsandregulationsregardingequalopportunity.
Article 11. EnforcementTheinterpretationofcompliancewiththisCodeistheresponsibilityoftheethicsboardsoftheInstituteofRealEstateManagement.AnyviolationbyanAMO®FirmoftheobligationsofthisCodeandanydisciplinaryactionforviolationofanyportionofthisCodeshallbedeterminedandcarriedoutinaccordancewithandpursuanttothetermsoftheBylawsandStatementofPoliciesoftheInstituteofRealEstateManagement.TheresultofsuchdisciplinaryactionshallbefinalandbindingupontheaffectedAMO®FirmandwithoutrecoursetotheInstitute,itsofficers,GoverningCouncilors,Members,employees,oragents.
Effective January 1, 2015
AMO Application Fee InvoiceIREM Federal ID Number: 36-6214767
APPLICANTFIRMNAME
DAYTIMETELEPHONE ()
NON-REFUNDABLEAPPLICATIONFEE $425.00
MakecheckpayabletoIREMandsendwithAMOapplicationto:
AMO ApplicationInstituteofRealEstateManagement430NorthMichiganAvenueChicago,IL60611
☐VISA ☐MasterCard ☐AmericanExpress ☐Discover
Cardholder’sName:
CardNumber: Corp.CardID:
ExpirationDate:
Signature:
PrintName:
Cardholder’sBillingAddress(ifdifferentfromapplicant):
Use this form:1.Tosubmitasaninvoiceinordertopaytheapplicationfee,or2.Ifyouarepayingtheapplicationfeebycreditcard.
ACCREDITEDRESIDENTIALMANAGER®
ACCREDITEDMANAGEMENTORGANIZATION®
CERTIFIEDPROPERTYMANAGER®
ACCREDITEDCOMMERCIALMANAGER
AMO ApplicationPage 1 of 5
Please type or print all information clearly
1.1Firm Name
☐Attachanarrativehistoryofthefirmanddocumentationattestingtothefirm’sname(e.g.,articlesofincorporation,partnershipagreement.)
1.2FirmHasDoneBusinessUnderThisNameSince(Year) 1.3Check if applicable: ☐Becausethisfirmdoesbusinessunderatradename,an explanationofthisisattached.
2.MailingAddressfortheExecutiveCPM(ReferredtobyIREMasAMOHeadquarters)
3.City/State/Zip
4.TelephoneNumber 5.FaxNumber ( ) ( )
6.WebsiteAddress
7.TypeofOrganization: ☐SoleProprietorship ☐Partnership ☐Corporation ☐Other(describe):
8.1YearFirmWasOrganized 8.2FirmHasManagedProperty 8.3FirmHasDoneBusinessUnder forInvestorsSince(Year) SameOwnershipSince(Year)
AMOApplication
10. Firm Owners:Listallofficers,partners,andotherswhonowownanyinterestinthestockorequityofthefirm.Thepercentagesofownershipshouldtotal100%. (Attachadditionalsheetifnecessary.)
☐Yes ☐No
☐Yes ☐No
☐Yes ☐No
☐Yes ☐No
IsThisPersonaCPM?Name PositionPercentofOwnership
A ☐ Apartments(Conv.Financed)B ☐ MedicalBuildingsC ☐ Condos/Co-ops/HOAsD ☐ SeniorHousingE ☐ Self-Storage
F ☐ Federally-AssistedHousingG ☐ ParkingGaragesI ☐ Industrial/WarehouseJ ☐ StudentHousingL ☐ LandParcel
M☐ MobileHomeparksO ☐ OfficeBuildingsP ☐ PublicHousingR ☐ RetailProperties/ShoppingCentersS ☐ Single-FamilyHomes
T ☐ HotelsandMotelsU ☐ MixedUsePropertiesX ☐ OtherY ☐ MilitaryHousing
11. Property Types:Checkeachpropertytypethatismanagedbytheprincipaloffice.(Thisinformationwillbeincludedinyouronlinemembershipdirectorylisting.)
Other Specialties:Checkspecialtiesperformedbytheprincipaloffice.(Thisinformationwillbeincludedinyouronlinemembershipdirectorylisting.)
1 ☐ Brokerage
2 ☐ Leasing
3 ☐ Construction
4 ☐ Consulting
5 ☐ Appraising
6 ☐ Financing
7 ☐ TaxAppeals
8 ☐ Maintenance
9 ☐ FacilitiesManagement
10 ☐ AssetManagement
YesNo☐ ☐ 9.1HasthefirmoritsparentcompanyeverfiledforChapter11orotherfinancialreorganizationforthebenefitofcreditors?(Ifyes,attachadetailed
explanation.)
☐ ☐ 9.2Hasthefirm,itsprincipals,officers,ormanagementpersonneleverbeeninvolvedineithercivilorcriminallegalproceedingsasadefendantinwhichtherewereallegationsoffraud,misrepresentation,misappropriationoffundsorproperty?(Ifyes,attachadetailedexplanation.)
☐ ☐ 9.3Hasthefirm,itsprincipals,officers,ormanagementpersonneleverbeensubjecttodisciplinaryactionbytheInstituteofRealEstateManagement, alocalboardoftheNationalAssociationofRealtors®,orany0therprofessionalorganization?(Ifyes,attachadetailedexplanation.)
13. Functions: Specificfunctionsrelativetotheoperationsofyourfirm,servicingyourclientsandmanagingyourpropertiesmustbemettobecomeanAMOFirm.Yourfirmmustbeperformingatleast18ofthe28functionsbelow.Checkallthatapply. Firm Operations
☐ 13.1Developsandexecutesanemergencypreparednessandresponseplan.☐ 13.2Providesforprofessionaldevelopment,training,and/orcredentialingofemployees.☐ 13.3Establisheswrittenjobdescriptionsthataccuratelydefineemployeeresponsibilities.☐ 13.4Preparesandmonitorsanannualbudget.☐ 13.5Develops,maintains,updates,andcommunicatesastrategicplan.☐ 13.6Participatesandsupportsemployeeinvolvementinindustryorganizationsand/orcommunitygroups.
Servicing the Client and Managing Properties
☐ 13.7Developsandmaintainsaclientcustomerserviceplan.☐ 13.8Developsandmaintainsawrittenleasingplan.☐ 13.9Preparesamanagementplan.☐ 13.10Establishesandenforceswrittenoperatingpoliciesandprocedures.☐ 13.11Recommendsandassistsinimplementingcapitalimprovements.☐ 13.12Establishesandfollowsprocedureforreportinglossclaimsandpotentiallossclaims.☐ 13.13Establishesandexecutes,ifneeded,anemergencypreparednessandresponseplan.☐ 13.14Establishessecuritypoliciesandprocedures.☐ 13.15Maintainsemergencyandlifesafetyequipment.☐ 13.16Establishesandmaintainsanenvironmentalandhealthsafetymanagementprogram.☐ 13.17Developsandimplementsawrittenmarketingplan.☐ 13.18Establishesrentalrates.☐ 13.19Providesadequatestaffing.☐ 13.20Develops,maintains,andenforcesgeneralsafetyguidelinesandawarenesstoprotecttenant/residentsafety.☐ 13.21Establishesacustomerserviceplanfortenants/residents.☐ 13.22Developsandadherestowrittenpoliciesandproceduresontenant/residentselectioninaccordancewithregulatory,contractual,andfirmguidelines.☐ 13.23Monitorsthattenants/residentsareincompliancewithleaseterms,includingrentcollections.☐ 13.24Preparesannualoperatingbudgets.☐ 13.25Assesses,develops,andimplementsplansforpreventativeandroutinemaintenance.☐ 13.26Requirescontractorsprovidinggoodsorservicestomeetminimuminsurancerequirements.☐ 13.27Receives,deposits,andaccountsforallincomingfundsaccuratelyandprotectstheclient’sfundsagainstallforeseeablecontingencies, depositingsuchfundsinanescrow,trust,oragencyaccountwithaninsuredfinancialinstitution.
☐ 13.28Disbursesandaccountsforoutgoingfundsandpayablesaccurately.
AMOApplication
AMO ApplicationPage 2 of 5
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FirmName
12.1 Firm Operations: SpecificstandardsrelativetotheoperationsofyourfirmmustbemettobecomeanAMOFirm.Confirmthatyourfirmmeetsthesestandardsbycheckingeachboxbelow.Yourfirm:
☐ Wasestablishedandconductsitsbusinessactivitiesincompliancewithall applicablelawsandregulations.
☐Hasestablishedandenforceswrittenpoliciesandproceduresforfirm operations.
☐Maintainsfirm,property,andclientrecordsinaccordancewithregulatory, contractual,andcompanyguidelines.
☐ Hasestablished,maintains,andupdatesasneededanaccountingsystem thatcomplieswithacceptedaccountingprocedures,firmoperations,and clientobligations.
☐ Wasestablishedwithandadherestointernalfinancialcontrolsforthe handlingoffirmandclientfundsanddoesnotcomminglefundsofmultiple clientsorclientfundswithfirmfunds.
12.2 Servicing the Client: SpecificstandardsrelativetoservicingyourclientsmustbemettobecomeanAMOFirm.Confirmthatyourfirmmeetsthesestandardsbycheckingeachboxbelow. Yourfirm:
☐Hasawrittenmanagementagreement,asmutuallyagreeduponbetween thefirmanditsclients,thatestablishesthebusinessrelationships.
☐Developsandimplementsleasingpoliciesandproceduresfor propertiesmanagedinaccordancewithregulatory,contractual,andfirm guidelines.
☐Fullydisclosestotheclientsacceptanceofanyrebates,fees,commissions, discounts,orotherbenefits,monetaryorotherwise.
AMO ApplicationPage 3 of 5
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FirmName
14.4TitleofCPMMember’sPositioninFirm
AMOApplication
15.RequiredEducation
EducationRequirement1:successfullycompletedoneofthefollowing:
☐BDM601:GrowthStrategiesforRealEstateManagementCompanies,and HRS603:Today’sLeadershipChallenges–bothcurrentlybeingofferedinonlineformat
☐701:ManagingtheManagementCompany–offeredpriorto1997
☐BDM603:BuildingaBestPracticeRealEstateManagementCompany
EducationRequirement2:successfullycompletedoneofthefollowing:
☐ ETH800:EthicsfortheRealEstateManager–offeredintheclassroom
☐ETH001:RealEstateManagementEthicsOnline–offeredonline
WhatpromptedyoutoapplyforAMOmembership?(Checkone)
☐Advertising ☐Catalog/Brochure ☐Colleague ☐CustomerRelations ☐DirectMail ☐E-mail
☐Employer ☐IREMChapter ☐IREMWebsite ☐InternetSearch ☐PhoneCall ☐ ProfessororInstructor
☐TradePublication ☐Other___________________________________
14.Executive CPM: ☐ AttachanorganizationchartthatidentifiesthenamesandtitlesoftheExecutiveCPM,CPMMembers,CPMCandidates,andother employeesinthefirm.Thechartmustclearlyshowthechainofcommand.
14.1NameofExecutiveCPM
14.2CPMKeyNumber 14.3CPMHasBeenWithThisFirmSince(Month/Year)
14.5 TheExecutiveCPMmusthaveauthorityand/or responsibilityfor:
☐ Deliveryofthefirm’srealestatemanagementservices.☐ Developingthefirm’srealestatemanagementpolicies andprocedures.
14.6 TheExecutiveCPMmusthaveauthorityand/or responsibilityforatleastfourofthesixareasbelow. (Checkallthatapply):
☐ Hiringandfiringrealestatemanagers.☐ Establishingthefirm’sgoalsandobjectives.☐ Determiningtheservicesofferedbythefirm.☐ Negotiatingmanagementagreementswithclients.☐ Bindingmanagementagreementswithclients.☐ Trainingandsupervisingrealestatemanagers.
16.Other CPM Members:ListthenameandpositionofeveryotherCPMatthefirm’sprincipaloffice.(Attachadditionalsheetifnecessary.)
Name Position
CompletionDate
AMO ApplicationPage 4 of 5
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FirmName
17. Branch OfficesCompletethefollowinginformationforeveryofficeofthefirmforwhichyoucananswer“yes”toallofthefollowingquestions:• Isrealestatemanagementperformedoutoftheoffice?• IstheofficeanextensionandunderthecontrolorsupervisionoftheAMOHeadquarters?• Doestheworkperformedattheofficebenefitthemanagementfirm,notexclusivelyaspecificproperty?• Isthereatleastonefull-timeemployeeofthecompanyattheofficewhocanbecontactedforbusiness?• Istheofficetelephonelistedandansweredinthecompanyname?
☐ Check this box if the firm has no branch offices.
AMOApplication
17.1NameofBranchOffice(IfDifferentfromPrincipalOffice)
AddressofBranchOffice TelephoneNumberofBranchOffice ( )
City/State/Zip FaxNumberofBranchOffice ( )
CPMMembersEmployedatthisBranchOffice:(Attachadditionalinformationifnecessary) Name Position
A ☐ Apartments(Conv.Financed)B ☐ MedicalBuildingsC ☐ Condos/Co-ops/HOAsD ☐ SeniorHousingE ☐ Self-Storage
F ☐ Federally-AssistedHousingG ☐ ParkingGaragesI ☐ Industrial/WarehouseJ ☐ StudentHousingL ☐ LandParcel
M☐ MobileHomeParksO ☐ OfficeBuildingsP ☐ PublicHousingR ☐ RetailProperties/ShoppingCentersS ☐ Single-FamilyHomes
T ☐ HotelsandMotelsU ☐ MixedUsePropertiesX ☐ OtherY ☐ MilitaryHousing
Checkeachpropertytypethatismanagedbythisbranchoffice:(Thisinformationwillbeincludedinyouronlinemembershipdirectorylisting.)
Checkspecialtiesperformedbythisbranchoffice:(Thisinformationwillbeincludedinyouronlinemembershipdirectorylisting.)
1 ☐ Brokerage2 ☐ Leasing3 ☐ Construction
4 ☐ Consulting5 ☐ Appraising6 ☐ Financing
7 ☐ TaxAppeals8 ☐ Maintenance9 ☐ FacilitiesManagement
10 ☐ AssetManagement
17.2NameofBranchOffice(IfDifferentfromPrincipalOffice)
AddressofBranchOffice TelephoneNumberofBranchOffice ( )
City/State/Zip FaxNumberofBranchOffice ( )
CPMMembersEmployedatthisBranchOffice:(Attachadditionalinformationifnecessary) Name Position
A ☐ Apartments(Conv.Financed)B ☐ MedicalBuildingsC ☐ Condos/Co-ops/HOAsD ☐ SeniorHousingE ☐ Self-Storage
F ☐ Federally-AssistedHousingG ☐ ParkingGaragesI ☐ Industrial/WarehouseJ ☐ StudentHousingL ☐ LandParcel
M☐ MobileHomeParksO ☐ OfficeBuildingsP ☐ PublicHousingR ☐ RetailProperties/ShoppingCentersS ☐ Single-FamilyHomes
T ☐ HotelsandMotelsU ☐ MixedUsePropertiesX ☐ OtherY ☐ MilitaryHousing
Checkeachpropertytypethatismanagedbythisbranchoffice:(Thisinformationwillbeincludedinyouronlinemembershipdirectorylisting.)
Checkspecialtiesperformedbythisbranchoffice:(Thisinformationwillbeincludedinyouronlinemembershipdirectorylisting.)
1 ☐ Brokerage2 ☐ Leasing3 ☐ Construction
4 ☐ Consulting5 ☐ Appraising6 ☐ Financing
7 ☐ TaxAppeals8 ☐ Maintenance9 ☐ FacilitiesManagement
10 ☐ AssetManagement
If you need to report more branch offices, please photocopy this blank page.
AMO ApplicationPage 5 of 5
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FirmName
Your AMO application must include:
☐ Thecompletedfive-pageapplication.☐ Thetwoconfidentialapplicationpagesregardinginsurance.☐ Anyinformationaboutadditionalowners,CPMMembers,orbranchoffices,ifnecessary.
☐ Documentationattestingtothefirm’snameanddateitwasestablished.☐ Anarrativehistoryofthefirm.☐ Thefirm’sorganizationchart,showingthechainofcommandandthenameandtitlesoftheExecutiveCPMandotherCPMMembersandCPMCandidateswithinthefirm.
☐ Acertificateofinsurancefromthefirm’sinsurancecarrierand,ifpolicyisnotprovidedthroughtheAMOCrimeInsuranceProgram,verificationfromthefirm’sagentconfirmingthatallinsuranceguidelinesaremet(Confidential Information Page 2).
☐ Threelettersofrecommendationsubmittedontherecommendationformsandintheconfidentialenvelopesprovided.
☐ TheAMOapplicationfee,whichis$425.Thisapplicationmayalsoneedtoinclude:
☐ Anexplanationifthefirmdoesbusinessunderatradename☐ Anyexplanationsasmayberequiredforanswerstoapplicationitems 9.1,9.2and9.3
Mail the application and all supporting materials to:AMOApplicationInstituteofRealEstateManagement430NorthMichiganAvenueChicago,IL60611-4090
18.1Ifgiventheaccreditation,toconductitsrealestatemanagementbusinessinaccordancewiththeAMOCodeofProfessionalEthicsestablishedbythisInstitute.
18.2Accreditation,ifgranted,shallbeonlyforthree(3)yearsbeginningwiththeyearofapproval,andtheapplicantfirmwillberequiredtoapplyforreaccreditationeverythree(3)yearsthereafter.
18.3NeithertheapplicantfirmnorthoseoftheorganizationengagedinrealestatemanagementshallholdthemselvesouttoanyasbeinganAccredited ManagementOrganizationatanytimebeforethefirmisaccreditedorafterexpirationorrevocationofanyaccreditation.
18.4IntheeventtheInstituteshouldfinditnecessarytomakeextraordinaryinvestigationoftheapplicantfirmandallthoseoftheorganizationengagedinrealestatemanagementinordertoestablisheligibility,theInstitutemayestimatethecostsofsuchextraordinaryinvestigationandtheapplicantfirmshalldepositthesecosts,withtheunderstandingthatanyunusedportionwillbereturned.
18.5Theapplicantfirmmaywithdrawthisapplicationwithoutprejudice.
18.6TheapplicantfirmshallsupportallactivitiesoftheInstitutetothebestofitsabilities.
18.7TheapplicantfirmshallpayannualfeessetbytheInstitute.
18.8TheapplicantfirmandthoseassociatedwithitherebyauthorizetheInstitutetoobtaincreditandothersimilarinformationontheapplicantfirmandthoseindividuals.
18.9TheapplicantfirmmeetsandshallatalltimeswhileaccreditedcomplywithallrequirementsforanAccreditedManagementOrganizationand:
•Shallfurnishsuchsupplementalinformationasmayberequired;
•AgreesthattheInstitutemaywithdraworsuspendaccreditationfor causeandmaycausenoticeofitsactiontobemadepublicinthe applicantfirm’slocality;
•Agreesthatnochangeofasubstantialnatureinitsmethods, techniques,orpoliciesofdoingbusinesshastakenplaceinthepast three(3)yearsoriscontemplatedinthenextthree(3)yearswhich mayinanywaydisqualifyapplicationforitsreaccreditationasan AccreditedManagementOrganization.
18.10 Theapplicantfirm,forandonbehalfofitself,itsofficers,directors,agents,andemployees,theirheirs,assigns,administrators,andeachofthem,waiveandforeverreleaseallclaimsanddemands,orcausesofactionandeachofthem,thattheymayhavenowormayinthefuturehaveagainsttheInstitute,itsmembers,officers,councillors,agents,employees,chaptersorotherswhomaysupplyinformationormaterialtotheInstitute,andeachofthem,foranyactoromissionoftheInstitute,itsmembers,officers,councillors,employees,chaptersoranyothersandeachofthemincludingbutnotinanywaylimitedtoitsortheiractsoromissionsinaccreditation,failingtoaccredit,orincensuring,suspending,orrevokingsuchaccreditation.
18. In consideration of the Institute considering this application, the applicant firm agrees as follows:
19. Ethics
ItisunderstoodthattheExecutiveCPMisheldresponsiblenotonlyforhisorherownethicalconductbutalsofortheconductoftheindividualsemployedbythefirmintherealestatemanagementfield.TheExecutiveCPMisalsoresponsibleforinformingemployeesoftheAMOCodeofProfessionalEthics.
Icertifythateverypersonatthefirmengagedinrealestatemanagementread,understood,andagreedtoabidebytheAMOCodeofProfessionalEthicswhichmaybeupdatedorchangedbytheGoverningCouncil.
XExecutiveCPM ______________________________________________
Date___________________________________________________________
20. Signatures
TheundersignedCPMaffirmsthatheorsheisresponsiblefortherealestatemanagementbusinessoftheapplicantfirm;hasfullknowledgeoftheapplicantfirm’spolicies,itsmethodsofdoingbusiness,anditspersonnel;andatteststhatallinformationonthisapplicationandallotherdocumentssubmittedwiththisapplicationaretrueandcorrectatthetimeofitscompletion.
IftheCPMdoesnothavetheauthoritytolegallybindtheapplicantfirm,anofficeroragenthavingsuchauthoritymustsignthisapplicationinadditiontotheCPM.Theundersignedaffirmsthatheorshehasreadthisapplicationandthattheinformationonthisapplicationiscorrect.
XExecutiveCPM ______________________________________________
Date___________________________________________________________
X ___________________________________________________________
Title ___________________________________________________________
AMOApplication
AMO ApplicationConfidential 1 of 2
Please type or print all information clearly
FirmName
Insurance Guidelines: To be completed by the applicant firm
TobecomeanAMO,therearecertaininsurancecoveragesthatyourfirmmustholdandcertaininsuranceguidelinesthatmustbemet.Inordertoconfirmthatyourfirmhastheadequatecoverage,confidentialbusinessinformationisneeded.Yourfirmsubmitsthisinformationwiththeassurancethatitshallbeheldinconfidence,thatthisinformationwillnotbemadeavailabletothelocalIREMChapter,theIREMRegionalVicePresident,oranymemberinthefirm’scommunity.
Listherethetotalmonthlygrossrentcollections(notmanagementfees)asaconsolidatedamountfortheprincipalofficeandallbranchoffices,orifmanageanHOAorCA,listassessmentsandcollectionsonbehlafofassociation:
A certificate of insurance must be attached that includes:
A. Fidelitybondcoveringallmanagementemployees,officers,and ownersoffirminanamountequaltoatleast10%ofthefirm’sgross monthlycollectionsaslistedabove.Ataminimum,thebondmust be$10,000,themaximumrequiredbondis$500,000.Thedeductible maynotexceed$5,000or5%ofthebond,whicheverisgreater.
☐ Thisfirmhasafidelitybondintheamountof$ ☐ 10%ofgrossmonthlycollections(asnotedabove)is$
☐ Thedeductibleis$B. Depositor’sforgeryandalterationsinsuranceintheminimumamount of$25,000.Thedeductiblemaynotexceed$5,000or5%ofthe amount,whicheverisgreater.
☐ Thisfirmhasdepositor’sforgeryandalterationsinsurance intheamountof$ ☐ Thedeductibleis$
Thefirm’scrimeinsurancepolicymusteither(1)bethroughtheAMOCrimeInsuranceProgram,or(2)meetprescribedguidelines.
Check one:
☐ Thefirm’scrimeinsurancepolicyisthroughtheAMOCrimeInsuranceProgramandtheattachedcertificateofinsuranceatteststothis.
☐ Page2oftheconfidentialapplicationpagesmustverify: • TheinsurancefirmisratedbyA.M.BestorStandardandPoors atleastB+.
• Thepolicyutilizediswrittenonalosssustainedformordiscoveryform whichallowsfordiscoveryaminimumof60daysandamaximumof12 monthsafterterminationofthepolicy.
• Thepolicydoesnotincludeendorsementsrequiringprosecutionand convictionproceedingsagainstperpetrator.
• Deductiblesdonotexceed$5,000or5%.
$
Thefourcriteriaabovemustbemet.Ifthefirm’scoveragesdonotmeetallofthesecriteria,thepoliciesmustbeadjustedaccordinglyandAMOapprovalwillbedelayed.
AMOApplication
AMO ApplicationConfidential 2 of 2
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FirmName
AMOApplication
Insurance Guidelines: To be completed by the firm’s insurance agent.
Iffirmdoesnothaveitsfidelitybondanddepositor’sforgeryandalterationsinsurancethroughtheAMOCrimeInsuranceProgram,thefirm’sinsuranceagentmustprovidewrittenverificationthattheguidelinesbelowaremet.(Alsoattachacurrentcertificateofinsurancethatclearlyspecifiesbothinsurancecoveragesandtheamountofcoverageforeach.)
The four criteria below must be met. Check all boxes. If the firm’s coverages do not meet all of these criteria, the policies must be adjusted accordingly and AMO approval will be delayed.
☐ ThebondingcarriernotedbelowisratedA.M.BestorStandardandPoorsasatleastB+.☐ Thepolicyutilizediswrittenonalosssustainedformordiscoveryformwhichallowsfordiscoveryaminimumof60days andamaximumof12monthsafterterminationofthepolicy.
☐ Thepolicydoesnotincludeendorsementsrequiringprosecutionandconvictionproceedingsagainstperpetrators.☐ Deductiblesdonotexceed$5,000or5%ofthebond,whicheverisgreater.
By signing below, the applicant firm and the insurance agent confirm that all of the above guidelines are met.
AMOApplicantFirmName_____________________________________________________________________________________________________________
NameofInsuranceCompany___________________________________________________________________________________________________________
NameofInsuranceAgent(print) ________________________________________________________________________________________________________
SignatureofInsuranceAgent___________________________________________________________________________________________________________
PhoneNumberofInsuranceAgent ______________________________________________________________________________________________________
Date _______________________________________________________________________________________________________________________________
CONFIDENTIAL LETTERS OF RECOMMENDATION FOR AMO® CERTIFICATION
To become an AMO®, you must submit three Confidential Letters of Recommendation. It is highly recommended that you obtain your recommendations today so that you can get this requirement completed and it will not delay your approval as an AMO® at a later date.
The recommendation letter form is attached. Two of the recommendation letters must be from, in any combination: a client of the firm; the firm's accountant; the firm's attorney; the firm's bank; a tenant or resident. The third letter should be from a business associate of the firm.
Complete the top part on each Confidential Letter of Recommendation. The letters should be enclosed in a sealed and signed envelope when completed by your references and returned to you – as a courtesy, you might want to stamp the envelopes. Submit the returned, sealed envelopes to AMO Processing at IREM® Headquarters.
Note: References cannot be dated more than 12 months prior to receipt at IREM® Headquarters.
To the individual completing this Confidential Letter of Recommendation:
Thank you for agreeing to provide a reference for the firm whose name appears on the front of this letter. This firm has applied for the Accredited Management Organization® (AMO®) accreditation awarded by the Institute of Real Estate Management.
Please answer the questions in as specific and candid a manner as possible. When the form is complete:☐ Place the recommendation in the envelope addressed to the applicant firm ☐ Write your name across the seal☐ Return it to the firm.
Your signature across the seal of the envelope ensures that the letter will be kept confidential.
You can be assured that the applicant firm will not have access to this letter unless your permission is granted or unless the Institute is compelled to provide the letter by subpoena or court order. Completing this recommendation is a qualified privilege which attaches and absolves you and the Institute of liability, provided your communication is made in good faith and is limited to the issue at hand.
Rec
omm
ende
r’s S
igna
ture
Applicant Firm
To the individual completing this form: Please read the information on the reverse side first.
Name of Person Completing this Form
Position/Title Firm/Organization
Address
City/State/Zip Daytime Telephone Number
I am: (check all that apply) ☐A client of this firm ☐The firm’s accountant ☐The firm’s attorney ☐The firm’s bank
☐A tenant/resident ☐Business associate of the firm ☐Other (please specify) __________________________________________________
How long have you known the applicant firm?
Under what circumstances have you known the applicant firm?
How would you describe the applicant firm’s moral character and integrity, sincerity of commitment to the real estate management industry, and professional stature within the business community?
If you are a client, how do you rate the applicant firm’s performance in managing real estate?
Additional Comments:
I ☐can ☐cannot recommend this applicant firm for the AMO® accreditation.
Signature Date
CONFIDENTIAL LETTER OF RECOMMENDATIONAMO® Application • Institute of Real Estate Management
irem
O
© 2016 Institute of Real Estate Management. All rights reserved. IREM® logo, IREM®, CERTIFIED PROPERTY MANAGER®, CPM®, the CPM key logo, ACCREDITED RESIDENTIAL MANAGER®, ARM®, the ARM torch logo, ACCREDITED MANAGEMENT ORGANIZATION®, AMO®, the AMO circle logo, Income/Expense Analysis®, Expense Analysis®, MPSA®, and JPM® are registered marks of the Institute of Real Estate Management.
IREM encourages diversity. We welcome individuals of all races, genders, creeds, ages, sexual orientations, gender identities, national origins, and individuals with disabilities. Our organization strives to provide an equal opportunity environment among its members, vendors, and staff.
IREM® Headquarters Phone (800) 837-0706430 North Michigan Avenue (312) 329-6000Chicago, IL 60611-4090 Fax (800) 338-4736www.irem.org E-mail [email protected]
804.01.16