Career Development

What Does a Leasing Manager Do?

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

Leasing managers are responsible for overseeing the leasing process at commercial properties. They work with both tenants and landlords to ensure that everyone is happy with their end of the deal.

Leasing managers may also be responsible for marketing and promoting the property they’re working with. This might include creating brochures, flyers, or other materials to help attract new tenants or inform current ones about upcoming events or changes to the building.

Leasing Manager Job Duties

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

  • Negotiating lease terms with tenants to ensure that both parties are satisfied with the arrangement
  • Communicating with other members of the management team regarding building status, repairs needed, and other issues
  • Reviewing applications for new tenants to ensure that they meet all requirements
  • Communicating with suppliers to discuss pricing and availability of rental units
  • Providing training to new employees on office procedures, such as how to use equipment in an office setting
  • Maintaining contact with current tenants to ensure that they are satisfied with their living arrangements
  • Managing the financial aspects of leasing such as collecting rent payments and handling maintenance requests
  • Evaluating the performance of leasing agents to ensure that they are meeting goals and upholding company standards
  • Setting up interviews with potential tenants to determine if they are a good fit for the property

Leasing Manager Salary & Outlook

Leasing managers’ salaries vary depending on their level of education, years of experience, and the size and type of company for which they work. They may also earn additional compensation in the form of bonuses or commissions.

  • Median Annual Salary: $49,000 ($23.56/hour)
  • Top 10% Annual Salary: $80,500 ($38.7/hour)

The employment of leasing managers is expected to grow at an average rate over the next decade.

Demand for leasing services will be driven by the need to lease equipment and other assets in order to reduce costs and risks associated with purchasing these items. In addition, demand for leasing services may increase as companies seek to lease equipment rather than buy it because of concerns about the availability and cost of capital.

Leasing Manager Job Requirements

A leasing manager typically needs to have the following qualifications:

Education: Most employers require leasing managers to have a minimum of a bachelor’s degree in real estate, finance, business or a related field. Some leasing managers choose to pursue a master’s degree in real estate or business administration to further their career opportunities and increase their earning potential.

Training & Experience: Most leasing managers have previous experience in leasing or real estate. They may have worked as a leasing agent or property manager. They may have worked in a related field, such as real estate or property management. On-the-job training for leasing managers may include learning the company’s leasing software and procedures.

Certifications & Licenses: Certifications allow you to prove your skills and qualifications to current and potential employers. Leasing managers can earn certifications to gain more theoretical knowledge of their responsibilities, further their career advancement opportunities and test their professional skills.

Leasing Manager Skills

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

Communication: Communication is the act of conveying information through speech, writing or other methods. As a leasing manager, you may be responsible for communicating with clients, other managers and sales representatives. Strong communication skills can help you convey information clearly and answer questions. You may also use communication skills to write contracts, emails and other documents.

Negotiation: Negotiation is the ability to persuade others to agree with your ideas or proposals. Leasing managers may use negotiation skills to help them secure the best possible deals for their employers. For example, they may negotiate with suppliers to get better rates on equipment or negotiate with customers to get them to pay their monthly lease payments on time.

Financial analysis: Financial analysis is the ability to interpret and understand financial data. Leasing managers may use their financial analysis skills to review and interpret financial statements, budgets and other financial documents. They may also use their financial analysis skills to analyze the financial viability of potential clients and their ability to pay for a lease.

Problem-solving: Leasing managers are responsible for ensuring that their company’s leasing operations run smoothly. This means that they need to be able to identify and solve problems as they arise. Problem-solving skills allow you to identify the source of a problem and develop a solution that addresses the issue.

Decision-making: Leasing managers make decisions about the financial aspects of a lease agreement, including the length of the agreement, the amount of money the company is willing to invest and the interest rate. They also make decisions about the terms of the agreement, including the number of miles the car can drive before the company needs to pay for maintenance and the number of days the company can delay payment. Leasing managers also make decisions about the types of cars the company offers, including the make, model and year.

Leasing Manager Work Environment

Leasing managers work in a variety of settings, including office buildings, shopping malls, and warehouses. They typically work regular business hours, although they may occasionally work evenings or weekends to attend meetings or open houses. Some leasing managers travel to different properties to meet with potential tenants or to inspect vacant units. Leasing managers may work under a great deal of pressure to meet deadlines and quotas for renting units. They may also work long hours to complete paperwork and to show units to prospective tenants.

Leasing Manager Trends

Here are three trends influencing how leasing managers work. Leasing managers 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 Midsize Business Market

The midsize business market is growing rapidly, and this is creating opportunities for leasing managers.

As more and more businesses move into the midsize category, they will need help with their leasing needs. This means that leasing managers will be in high demand, as they are able to provide valuable services that can help these businesses save money and improve their bottom line.

More Focus on Renewals and Upgrades

Leasing managers are increasingly focusing on renewals and upgrades in order to keep their customers happy and retain them as long-term clients.

This trend is due to the fact that customers are becoming more demanding when it comes to lease terms and conditions. As a leasing manager, you need to be prepared to meet these demands by having strong negotiation skills and knowledge of the latest products and features. In addition, you need to be able to communicate effectively with your customers in order to understand their needs and make sure that they are satisfied.

Greater Use of Technology

Technology is playing an increasingly important role in all aspects of business, including leasing. Leasing managers who are familiar with technology can use it to their advantage by finding new ways to streamline processes and find better deals for their clients.

In addition, leasing managers can also use technology to connect with potential clients and build relationships with them before they ever meet in person. This can be extremely helpful in building trust and making sure that both parties are comfortable with each other before entering into a formal agreement.

How to Become a Leasing Manager

A leasing manager career can be a great way to get your foot in the door of the commercial real estate industry. As a leasing manager, you’ll be responsible for finding tenants and negotiating leases on behalf of your company. This is a great opportunity to learn about different types of businesses and how they operate.

To become a leasing manager, it’s important to have strong communication skills and be able to work well with people from all walks of life. You should also be familiar with the legal aspects of leasing so that you can accurately represent your company.

Related: How to Write a Leasing Manager Resume

Advancement Prospects

The leasing manager is responsible for the day-to-day operations of the leasing office. He or she supervises the leasing staff, develops and implements marketing plans, and meets with prospective tenants. The leasing manager also negotiates leases and renewals, and ensures that the property is leased to qualified tenants.

The leasing manager position is often the first step in a management career in the real estate industry. With experience, a leasing manager can advance to positions such as assistant property manager, property manager, and regional manager. Some leasing managers also become real estate brokers and open their own firms.

Leasing Manager Job Description Example

At [CompanyX], we are looking for an experienced leasing manager to join our team. The leasing manager will be responsible for all aspects of the leasing process, from marketing vacant units to signing leases and move-in coordination. They will work closely with the property manager to ensure that all units are leased in a timely manner and that all tenants are satisfied with their living arrangements. The ideal candidate will have excellent customer service skills, be highly organized, and have experience with marketing and sales. They must also be able to work independently and be able to take initiative when needed.

Duties & Responsibilities

  • Maintain a high level of occupancy by marketing and leasing vacant units
  • Effectively communicate with potential and current residents to build relationships and provide excellent customer service
  • Understand and comply with all federal, state, and local laws pertaining to fair housing
  • Prepare and execute lease agreements and other necessary paperwork
  • Collect rent payments and security deposits in a timely manner
  • Inspect units regularly and coordinate repairs and maintenance as needed
  • Keep accurate records of all financial transactions
  • Generate monthly reports detailing occupancy rates, rental income, and expenses
  • Develop and implement creative marketing strategies to promote the property
  • Stay up-to-date on industry trends and best practices
  • Attend community events and networking functions to represent the property in a positive light
  • Train and supervise on-site staff

Required Skills and Qualifications

  • Bachelor’s degree in business, real estate, or related field
  • 3-5 years experience in commercial leasing or property management
  • Excellent negotiation skills
  • Strong understanding of lease agreements and real estate law
  • Proven ability to build relationships and work with a team
  • Exceptional customer service skills

Preferred Skills and Qualifications

  • MBA or other advanced degree
  • 7-10 years experience in commercial leasing or property management
  • CCIM or other professional designation
  • Experience working with large retail tenants
  • Familiarity with market analysis and financial modeling

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