Property Management: Certified Financial Specialist (CFS)

Course Overview

NCHM’s Certified Financial Specialist (CFS) program equips housing professionals with crucial property management finance skills, focusing on understanding financial statements and mastering the development of effective operational budgets. This property management budget training is designed to enhance the financial oversight and success of multi-family and senior housing communities.

Course Description

NCHM’s Certified Financial Specialist (CFS) course teaches the critical nuts and bolts of property-level financial management, a cornerstone of successful multi-family and senior housing operations. This program is designed to provide housing management personnel with a solid foundation in property management finance.

The CFS course teaches essential property-level financial management, starting with an understanding of owner financial goals and key accounting concepts like cash versus accrual methods. Participants learn to interpret monthly income/expense statements and balance sheets for daily decision-making and utilize budget variance analysis to identify and correct operational issues. A significant focus is placed on comprehensive budget preparation, including research, forecasting revenue, estimating expenses, capital planning, and allocating the budget effectively across the year. 

Mastering these elements of property management finance is crucial for optimizing performance and meeting owner objectives.

What you’ll learn:

• Owner Financial Goals: Understand the various financial goals of property owners and the importance of aligning management efforts to achieve them.
• Fundamentals of Financial Management: Learn key accounting terms and concepts that underpin property-level finance, including the differences between cash and accrual accounting methods.
• Understanding Financial Statements: Gain a detailed explanation of monthly income and expense statements and balance sheets, with an emphasis on their practical application in daily property management.
• Budget Variance Analysis: Develop the skills to use budget variance information to quickly identify operational problems, analyze performance, and implement corrective actions.
• Comprehensive Budget Preparation: Master the process of developing an accurate annual budget, including researching data, forecasting revenue, estimating expenses, addressing shortfalls, planning for capital expenditures, and correctly allocating the budget over a twelve-month period.
• Using Financial Data for Decision-Making: Learn how to translate financial data into actionable insights for improved property performance and strategic planning.

Why NCHM?

NCHM is the Gold Standard

NCHM’s CFS certification program delivers unparalleled quality and expertise in property management finance. Our focused training approach ensures participants receive dedicated attention, gain a comprehensive understanding of financial principles and property management budget training, and develop the confidence needed to excel in their roles. We also provide an eHotline to all with an active NCHM certification, allowing for quick answers to any questions on the job.

Only Organization Created by the US Government to Provide Affordable Housing Training

As the sole organization initially established by the U.S. government specifically for affordable housing training, NCHM brings an unparalleled depth of knowledge and authority to its certification programs, including foundational training in property management finance.

One Stop For Training and Certification

NCHM simplifies Certified Financial Specialist (CFS) certification with an all-in-one solution for registration, comprehensive training in property management finance, and testing. Our streamlined process delivers top-tier property management budget training efficiently, reducing frustration and delays so staff can become valuable team members faster, with less hassle.

The live online CFS course is conducted over four half-days (1PM – 5PM Eastern each day). Participants complete the online exam within one week after the training and receive their results promptly for an efficient certification process.

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