Career Development

What Does a Leasing Professional Do?

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

Leasing professionals are responsible for finding and securing commercial space for their company or client. They may also be tasked with managing the lease once it’s signed, including making sure that all parties fulfill their obligations under the agreement.

Leasing professionals must have a strong understanding of real estate laws and practices in order to effectively represent their clients. They must also be able to identify opportunities for value-add services such as tenant improvements, build-to-suit construction, etc.

Leasing Professional Job Duties

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

  • Conducting market research to determine leasing rates and terms that will attract prospective tenants and help the property manager meet their goals
  • Reviewing lease terms with tenants to ensure they are legally binding and enforceable
  • Negotiating lease terms with tenants and property owners to ensure that all parties are satisfied with the final agreement
  • Preparing lease agreements and subleasing agreements in accordance with state laws
  • Preparing reports and documentation related to leases, including rent rolls, lease termination notices, and security deposit reconciliations
  • Preparing budgets and cost analyses for proposed projects to determine their financial feasibility
  • Coordinating with construction crews to ensure that work is completed according to schedule and specifications
  • Providing information about available properties to potential tenants, including photos and floor plans
  • Managing tenant relations to ensure that all parties are satisfied with the rental experience

Leasing Professional Salary & Outlook

Leasing professionals are typically paid a salary, which can vary depending on their level of education, years of experience, and the size and industry of the company. They may also receive bonuses or commissions based on the deals they negotiate.

  • Median Annual Salary: $41,500 ($19.95/hour)
  • Top 10% Annual Salary: $122,000 ($58.65/hour)

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

Employment growth will be limited by the increasing automation of leasing processes, which should increase productivity and reduce the need for leasing professionals. However, leasing professionals will still be needed to oversee the automated processes and to troubleshoot any problems that arise.

Related: In-Depth Leasing Professional Salary Guide

Leasing Professional Job Requirements

A leasing professional typically needs to have the following qualifications:

Education: Most leasing professionals have at least a high school diploma or GED. Some employers prefer to hire candidates who have a bachelor’s degree in business, finance or real estate. Relevant coursework includes finance, accounting, economics, business law and real estate principles.

Training & Experience: Most leasing professionals will receive on-the-job training from their new employer. This training will help the leasing professional learn the company’s policies and procedures. It will also help them learn the software and technology they will need to use.

Certifications & Licenses: To become a leasing professional, you must become a certified professional through the International Council on Leasing and Finance Certifications (ICLFC). To become certified, you must complete the Certified Professional Leasing Professional (CPLP) program.

Leasing Professional Skills

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

Communication: Communication is the ability to convey information to others in a clear and understandable way. As a leasing professional, you may be required to explain complex financial information to clients. You can also use your communication skills to help clients understand the leasing process and the benefits of leasing a vehicle.

Negotiation: Negotiation is the process by which you and another party come to an agreement. As a leasing professional, you may need to negotiate with clients to help them find the right financing option for their needs. You can also negotiate with suppliers to get the best prices for your company.

Marketing: Marketing skills can help you understand how to promote a business and its products. You can use marketing skills to help a company understand how to attract customers and increase sales. This can be useful in a leasing position because you may need to convince businesses to sign a lease for a certain amount of space.

Research: Leasing professionals should be able to research information about the products they’re selling. This can include researching the products’ features, the products’ manufacturers and the products’ prices. This information can help you provide customers with the information they need to make informed purchasing decisions.

Financial analysis: Financial analysis is the ability to interpret financial data and make informed decisions based on the data. Leasing professionals use their financial analysis skills to assess the financial viability of a lease agreement. They also use this skill to determine the value of a vehicle and the monthly payments a customer can afford.

Leasing Professional Work Environment

Leasing professionals work in a variety of settings, including office buildings, shopping malls, and residential complexes. They typically work regular business hours, although they may occasionally work evenings or weekends to show properties to prospective tenants. Some leasing professionals travel to different locations to attend trade shows or conventions. Although most leasing professionals work indoors, some may work outdoors to show properties or to post signs advertising available units. The work can be stressful at times, especially when deadlines are tight or when working with difficult customers. However, most leasing professionals find the work to be challenging and rewarding.

Leasing Professional Trends

Here are three trends influencing how leasing professionals work. Leasing professionals 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 Leasing Industry

The leasing industry is growing rapidly, as businesses are increasingly turning to leasing as a way to acquire equipment and vehicles. This trend is being driven by a number of factors, including the increasing cost of capital, the need for flexibility, and the desire to avoid long-term commitments.

As the leasing industry grows, leasing professionals will need to develop new skills and strategies in order to stay competitive. They will need to be able to understand the needs of their clients and find the right lease solution for them, while also understanding the latest trends in the market.

More Focus on Renewals and Upgrades

Leasing professionals are beginning to focus more on renewals and upgrades in order to keep their customers happy. This shift is due to the fact that customers are becoming more demanding when it comes to leasing terms and conditions.

In order to meet the demands of their customers, leasing professionals will need to be well-versed in all aspects of leasing, from contract negotiations to product knowledge. They will also need to be able to provide excellent customer service in order to retain customers over the long term.

Greater Use of Technology

The use of technology in the leasing industry is increasing at a rapid pace. This is due to the fact that technology can help leasing professionals do their jobs more efficiently and effectively.

For example, many leasing professionals are now using software to manage their deals and track their progress. This allows them to stay organized and up-to-date on the status of their deals. In addition, some leasing professionals are using technology to communicate with their customers, such as through email or chat platforms.

How to Become a Leasing Professional

A career as a leasing professional can be rewarding in many ways. It offers the opportunity to work with people from all walks of life, help them achieve their goals, and make a difference in their lives. You’ll also have the chance to learn about new products and services that can improve your customers’ lives.

To be successful in this field, you need to be able to build relationships quickly and effectively. You should also be able to think creatively about how to solve problems and come up with solutions that meet your customers’ needs.

Related: How to Write a Leasing Professional Resume

Advancement Prospects

A leasing professional may advance to a position such as assistant manager, manager, or director of the property. Some leasing professionals may move into related fields such as real estate sales or management.

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