A leasing agent is a property management real estate professional who works as an intermediary between prospective tenants and property managers to find suitable tenants for rental properties. This rental real estate job position is often found at larger rental properties or even within a portfolio of properties that have many units under management. Leasing agents play a crucial role in ensuring that the landlord’s property is occupied by suitable and responsible tenants, maximizing the landlord’s return on investment, and maintaining a positive relationship between the landlord and tenants.
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Leasing Agent Job Description
The role of a leasing professional involves a broad mix of rental real estate components – marketing, landlord tenant laws, and customer service. Since a leasing agent’s job is on behalf of landlords and property management companies, they strive to balance the best interests of both parties. Their primary responsibility is to handle the entire leasing process from start to finish, including marketing the property, scheduling and conducting property showings, screening potential tenants, and preparing lease agreements. Leasing agents also provide assistance to tenants with move-in and move-out procedures, answering questions, and addressing any concerns that may arise during the leasing period.
Leasing Agent Job Responsibilities
A leasing agent’s core job is to find prospective tenants, fill vacancies, and retain existing tenants. Leasing agents are responsible for handling the entire leasing process, from advertising and marketing the property to prospective tenants, to screening and selecting tenants, and preparing lease agreements. Day-to-day duties also include addressing tenant inquiries, negotiating lease terms, and ensuring compliance with local and federal housing laws. To give you a better idea of the job responsibilities as a leasing agent, below are some of the core responsibilities associated with this position.
- Marketing the property to attract potential tenants
- Utilizing online rental platforms to advertise vacancies
- Conducting property showings to prospective tenants
- Responding to rental inquiries and requests for information
- Screening prospective tenants for credit, criminal background, and rental history
- Explaining lease terms, conditions, and property rules to prospective tenants
- Negotiating lease terms with prospective tenants
- Drafting lease agreements and ensuring legal compliance
- Reviewing and submitting rental applications to other members of the asset management team
- Collecting security deposits and first month’s rent payment
- Inspecting units prior to move-in and upon move-out
- Collaborate with other members of the asset management team such as property managers, resident managers (as applicable), assistant property managers, and director of asset management
- Addressing prospective tenant complaints and concerns
- Working with existing tenants on retention and lease renewals
- Coordinating any repairs, maintenance, tenant improvements, or other rental unit construction related projects as needed for new tenants
- Ensuring the property is clean and well-maintained
- Conducting market research to determine rental rates
- Maintaining accurate tenant records and lease files
- Maintaining positive relationships with new tenants and property owners
- Handling tenant move-in and move-out procedures
- Providing excellent customer service to both tenants and landlords.
Leasing Agent Job Qualifications
Becoming a successful leasing agent requires a combination of training, experience, and determination. Although there are no formal educational requirements to become a leasing agent, most employers prefer candidates with a high school diploma or equivalent. Additionally, candidates with a background in sales, customer service, or real estate are highly sought after. To succeed in this role, you should possess strong interpersonal skills, salesmanship, and excellent communication skills. Below are several key job qualifications for a leasing agent.
- High school diploma or equivalent
- Bachelor’s degree in a relevant field is preferred but not required
- 1+ Year of leasing or other sales-related or customer service experience is highly desirable
- Exceptionally strong customer service abilities to provide knowledgeable yet sensitive advice to those looking for places to rent while also actively listening to customers’ needs in order to match them with suitable properties.
- Monitoring and maintaining knowledge of nearby competing properties’ promotional offerings, occupancy rates, and rental rates.
- Comprehensive understanding of landlord-tenant laws to possess an intimate knowledge of federal, state and local landlord-tenant laws – including everything from rent increases to security deposit guidelines to eviction procedures, to properly advise landlords regarding their rights and responsibilities as well as inform potential tenants on key aspects of their tenancy agreements
- Outstanding verbal and written communication skills to effectively build relationships with clients
- Strong interpersonal skills and ability to build relationships with tenants and property owners
- Ability to work in a fast-paced, dynamic environment while
- Strong attention to detail when reviewing lease agreements, paperwork related to prospective tenants (such as credit reports) or performing other tasks associated with tenant placement services
- Strong time management skills for managing multiple projects simultaneously
- Ability to work independently as well as part of a team.
- Proficient in using technology and computer applications such as as email, Microsoft Excel, property management softwares and other real estate software options used by the organization
Leasing Agent Job Compensation
The median salary for a Leasing Agent in the United States is approximately $32,000. This includes a lower range of $29,000 and an upper range of $36,000. Bonuses on top of a base salary are standard in a leasing agent’s overall compensation. They are usually based on performance factors that vary depending on the type of rental asset. Examples of these include achieving occupancy goals, increasing revenues, and decreasing expenses. Most employers may offer benefits such as health insurance, retirement plans, and paid time off for this position.