Career Development

What Does a Leasing Agent Do?

Find out what a leasing agent does, how to get this job, and what it takes to succeed as a leasing agent.

Leasing agents are responsible for finding new tenants and helping current tenants renew their leases. They typically work with landlords to find the best possible candidates for each property, ensuring that they meet all of the landlord’s requirements before presenting them as viable options.

Leasing agents may also be responsible for maintaining relationships with existing tenants. This might include handling maintenance requests or other issues that arise during a tenant’s stay in a particular property.

Leasing Agent Job Duties

A leasing agent typically has a wide range of responsibilities, which can include:

  • Negotiating lease terms such as rent prices, length of lease agreements, maintenance requirements, and other conditions
  • Reviewing applications to determine if applicants meet minimum requirements for leasing a property
  • Drafting lease agreements that comply with state laws and regulations on landlord-tenant relationships
  • Explaining lease terms and conditions to applicants and answering any questions they may have about the process
  • Preparing lease agreements, rental applications, and other paperwork required by landlords and tenants
  • Inspecting premises to ensure that they meet health and safety standards and are in good condition
  • Coordinating move-in and move-out procedures with landlords, property managers, and tenants
  • Providing post-move in support to tenants to ensure that they are satisfied with their new home
  • Handling maintenance requests from tenants and repairing any issues that arise

Leasing Agent Salary & Outlook

Leasing agents’ salaries vary depending on their level of education, years of experience, and the company size and location. They may also earn additional compensation in the form of commissions and bonuses.

  • Median Annual Salary: $54,500 ($26.2/hour)
  • Top 10% Annual Salary: $122,000 ($58.65/hour)

The employment of leasing agents is expected to grow slower than average over the next decade.

Demand for leasing agents depends on the demand for leasing services. As more companies lease equipment, there will be a greater need for leasing agents to help with the paperwork and other tasks associated with leasing arrangements. However, the use of leasing arrangements may decline as companies seek to reduce costs by purchasing rather than leasing equipment.

Leasing Agent Job Requirements

A leasing agent typically needs to have the following:

Education: Leasing agents typically need a high school diploma or GED certificate. Some leasing agents choose to pursue a post-secondary certificate or associate’s degree in real estate or property management. These programs provide foundational knowledge of the real estate industry and the skills needed to be successful in the role.

Training & Experience: Most leasing agents will receive on-the-job training from their employer. This training will help the leasing agent learn the company’s leasing procedures and policies. It will also help the leasing agent learn the property’s layout and the property’s current inventory.

Certifications & Licenses: Certifications allow you to prove your skills and qualifications to current and potential employers. Some states require leasing agents to get licensed or certified. Leasing agents can also earn certifications to gain additional knowledge about their responsibilities and further their career advancement opportunities.

Leasing Agent Skills

Leasing agents need the following skills in order to be successful:

Communication: Communication is the act of conveying information to others. As a leasing agent, you may need to communicate with potential customers, other employees and real estate agents. You should be able to communicate clearly and concisely to ensure that everyone understands you. You should also be able to listen to others and respond to their questions or concerns.

Customer service: Customer service skills can help you provide a positive experience for customers. You can use these skills to greet customers, answer their questions and help them find the right product for their needs. Customer service skills can also help you develop positive relationships with customers, which can lead to repeat business and referrals.

Time management: Time management skills allow you to prioritize tasks and complete them within a certain time frame. As a leasing agent, you may have multiple clients at a time, so it’s important to be able to manage your time effectively. This can help you provide excellent service to each client and ensure you meet your company’s sales goals.

Negotiation: Negotiation is the ability to persuade someone to agree to your terms. Leasing agents may use negotiation skills to convince customers to sign a lease agreement. For example, if a customer is interested in a car that’s priced higher than the monthly payment they can afford, a leasing agent may negotiate with the customer to lower the price of the car.

Product knowledge: Leasing agents should have extensive product knowledge about the products they’re selling. This can help them answer customer questions and ensure they’re recommending the right products for their clients. It can also help them identify any potential issues with products and direct customers to the right department for help.

Leasing Agent Work Environment

Leasing agents work in a variety of settings, including office buildings, shopping malls, and apartment complexes. They typically work regular business hours, although they may occasionally work evenings or weekends to show properties to prospective tenants. Some leasing agents may travel to different locations to show properties or attend real estate conventions. The work can be stressful at times, especially when working to meet deadlines or quotas. However, most leasing agents find the work to be exciting and enjoy working with people.

Leasing Agent Trends

Here are three trends influencing how leasing agents work. Leasing agents will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Growth of the Self-Driving Car

The self-driving car is quickly becoming a reality, with companies such as Tesla and Uber already testing out this technology. This means that leasing agents will need to be prepared to deal with customers who want to lease cars that are self-driving.

Leasing agents can prepare for this trend by learning about the self-driving car and how it works. They should also be familiar with the laws and regulations surrounding self-driving cars so that they can help their customers make informed decisions.

More Focus on Customer Service

As businesses focus more on customer service, leasing agents will need to develop skills in order to provide excellent service.

This trend is likely to continue as businesses realize the importance of keeping customers happy. Leasing agents can capitalize on this trend by developing strong customer service skills and learning how to create a positive customer experience. In addition, they can focus on providing excellent customer service through social media channels, such as Facebook and Twitter.

Greater Use of Technology

The use of technology in the leasing industry is increasing rapidly as more and more businesses turn to technology to streamline operations. This trend is leading to an increased demand for leasing agents who have expertise in using technology to manage leases.

Leasing agents who are able to utilize technology will be better equipped to handle the demands of the industry. They will be able to find and communicate with potential tenants more easily, as well as track and manage leases more efficiently.

How to Become a Leasing Agent

A career as a leasing agent can be a great way to get started in the real estate industry. It’s a good fit for people who are outgoing and enjoy working with people. As a leasing agent, you’ll be responsible for finding tenants and managing their leases. This means that you’ll need to be able to build relationships with potential tenants and convince them that your property is the best place for them to live.

You’ll also need to be able to manage the lease process once a tenant has been found. This includes drafting the lease agreement, collecting rent payments, and handling any issues that arise during the tenancy.

Related: How to Write a Leasing Agent Resume

Advancement Prospects

Leasing agents can advance to management positions in their company. Some may become assistant managers, and with experience, may become managers of their own leasing office. Some leasing agents may advance to positions in other areas of the real estate industry, such as sales, finance, or property management.

Leasing Agent Job Description Example

At [CompanyX], we’re looking for a customer service-oriented leasing agent to join our team. The ideal candidate will have experience working in the property management or real estate industry, and will be responsible for greeting potential tenants, showing properties, and processing applications. He or she will be expected to provide excellent customer service throughout the leasing process, and will need to be knowledgeable about the local rental market. The most successful leasing agent will be organized, efficient, and have a strong attention to detail.

Duties & Responsibilities

  • Greet potential residents and show them around the property, highlighting features and amenities
  • Answer questions about the community, lease terms, availability, pricing, and move-in specials
  • Help potential residents fill out applications and paperwork
  • Collect holding deposits and security deposits
  • Prepare and execute leases
  • Conduct move-in orientations for new residents
  • Handle resident concerns and complaints in a professional and timely manner
  • Process rent payments and late payments
  • Monitor the condition of the property and report any maintenance or repair needs to the property manager
  • Show vacant units to prospective residents
  • Coordinate with vendors for scheduled maintenance or repairs
  • Keep up-to-date on market trends and local competition

Required Skills and Qualifications

  • High school diploma or equivalent
  • 1-2 years of customer service experience, preferably in the retail or hospitality industry
  • Excellent communication skills, both written and verbal
  • Ability to work independently and as part of a team
  • Flexible schedule, including evenings and weekends
  • Proficient in Microsoft Office, with aptitude to learn new software and systems

Preferred Skills and Qualifications

  • Some college coursework preferred
  • Previous experience working in property management or real estate
  • Basic knowledge of Fair Housing laws
  • Strong marketing and sales skills
  • Exceptional organizational skills

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