A Certified Property Manager®, CPM® Candidate, Accredited Residential Manager®, Accredited Commercial Manager®, or Associate Member (hereinafter referred to as member) shall at all times exercise loyalty to the interests of the client and the employer or firm with whom the member is affiliated. A member shall be diligent in the maintenance and protection of the interests and property of the employer and of the client. A member shall not engage in any activity that could be reasonably construed as contrary to the interests of the client or employer. If an activity would result in a conflict between the interests of the firm or employer and the interests of the client, then the interests of the client shall take precedence.

A member shall not disclose to a third party any confidential or proprietary information concerning the client’s business or personal affairs without the client’s prior written consent, unless such disclosure is required or compelled by applicable laws and regulations.

Pursuant to the terms of the management agreement, a member shall use reasonable efforts to provide accurate, auditable financial and business records and documentation concerning each asset managed for the client, which records shall be available for inspection at all reasonable times by the client. A member shall furnish to the client, at mutually agreed upon intervals, regular reports concerning the client’s assets under management. A member shall not exaggerate, misrepresent, or conceal material facts concerning the client’s assets or any related transaction.

A member shall at all times serve as a fiduciary for the client and shall not commingle personal or company funds with the funds of a client or use one client’s funds for the benefit of another client, but shall keep the client’s funds in a fiduciary account in an insured financial institution or as otherwise directed in writing by the client. A member shall at all times exert due diligence for the maintenance and protection of the client’s funds against all reasonably foreseeable contingencies and losses.

A member shall not make, authorize or otherwise encourage any false or misleading comments concerning the practices of Members of the Institute of Real Estate Management®. A member shall truthfully represent material facts in their professional activities. A member shall not exaggerate or misrepresent the services offered as compared with the services offered by other real estate managers. Nothing in this Code, however, shall restrict legal and reasonable business competition by and among real estate managers.

Any written contract between a member and a client shall be in clear and understandable terms, and shall set forth the specific terms agreed upon between the parties, including a general description of the services to be provided by and the responsibilities of the member.

A member shall not represent personal or business interests divergent from or conflicting with those of the client, employer, and/or firm and shall not accept, directly or indirectly, any rebate, fee, commission, discount, or other benefit, monetary or otherwise, which could reasonably be seen as a conflict with the interests of the client, employer, and/or firm, unless the client, employer, and/or firm is first notified in writing of the activity or potential conflict of interest, and consents in writing to such representation.

A member shall exercise due diligence in the maintenance and management of the client’s assets and shall make all reasonable efforts to protect it against all reasonably foreseeable contingencies and losses. A member shall execute their duties and responsibilities in a manner that upholds the trust and confidence held by their client.

All obligations and duties of a member to clients, firms, and employers as specified in this Code shall also apply to relationships with former clients and former firms and employers. A member shall act in a professional manner when, for whatever reason, relationships are terminated between a member and a client and firm or employer. Nothing in this section, however, shall be construed to cause a member to breach obligations and duties to current clients and firm or employer, except when required or compelled by applicable laws and regulations.

A member shall at all times conduct business and personal activities with knowledge of and in compliance with all applicable laws and regulations.

A member shall not deny equal employment opportunity or equal professional services to any person for reasons of race, color, religion, sex, familial status, national origin, age, sexual orientation, gender identity, or ability status and shall comply with all applicable laws and regulations regarding equal opportunity.

A member shall competently manage the property of the client with due regard for the rights, responsibilities, and benefits of the tenants or residents and others lawfully on the property. A member shall not engage in any conduct that is in conscious disregard for the safety and health of those persons lawfully on the premises of the client’s property.

Each member has a responsibility to provide the Institute of Real Estate Management® with any significant factual information that reasonably suggests that another member may have violated this Code of Professional Ethics. Such information must be presented as outlined in the Bylaws and policies of the Institute of Real Estate Management®.

The interpretation of compliance with this Code is the responsibility of the ethics panels of the Institute of Real Estate Management®. Any violation by a member of the obligations of this Code and any disciplinary action for violation of any portion of this Code shall be determined and carried out in accordance with and pursuant to the terms of the Bylaws and policies of the Institute of Real Estate Management®. The result of such disciplinary action shall be final and binding upon the affected member and without recourse to the Institute, its officers, Governing Councillors, Members, employees, or agents.