Leasing Consultant: Career and Salary Facts
Research what it takes to become a leasing consultant. Learn about job responsibilities, education and skill requirements, and salary information to find out if this is the career for you.
What Is a Leasing Consultant?
The primary responsibilities of leasing consultants are to meet with prospective tenants and show them properties. Their duties might include posting advertising for vacancies, discussing lease options and the terms of the rental, and keeping records of rental activity. Leasing consultants might also have to inspect the property and arrange for needed repairs, trash removal, and maintenance. They also may be responsible for bookkeeping, budgeting, and preparing financial reports for the property's owners. These professionals must comply with various housing anti-discrimination laws when advertising or renting. The following chart gives you an overview about entering this field.
|Education Required||High school diploma required, bachelor's degree preferred|
|Key Skills||Written and verbal communication skills, computer literate, organization, sales capabilities|
|Job Growth (2018-2028)||7% (for all property, real estate, and community association managers)*|
|Median Salary (2018)||$58,340 (for all property, real estate, and community association managers)*|
Source: *U.S. Bureau of Labor Statistics
What Does a Leasing Consultant Do?
As a leasing consultant, you will explain the conditions of any contracts that prospective tenants sign and provide information about the area. Leasing consultants also collect monthly dues, rental fees, and any operating expenses owed. They investigate any complaints, disturbances, and violations that may have occurred. Leasing consultants are involved with the planning and organization of maintenance and any major renovations done to the property, while overseeing the administrative side of the office. Because you have responsibilities in many different areas, you would be expected to keep and maintain accurate records of sales, complaints, contracts, and any special permits given.
What Kind of Training and Skills Will I Need as a Leasing Consultant?
You need to have excellent written and verbal communication skills, as well as knowledge of computer programs such as Microsoft Word, Outlook Suite and Excel. Also important are organizational skills and the ability to interact face to face with future and current tenants on a regular basis. Due to the high volume of personal interaction with tenants, the ability to keep your composure in high-stress situations is necessary. Some positions may require you to make sales, so experience in this area would be beneficial.
A high school diploma or its equivalent is required for this position, but the U.S. Bureau of Labor Statistics (BLS) notes that many employers prefer job candidates seeking managerial responsibility to have a college degree or some college background. Most leasing consultants receive their training on the job, but opportunities are favorable if you have a bachelor's degree in business administration, real estate, or a related area. Depending on the position, employers may want you to have anywhere from 1-3 years of relevant experience. A valid driver's license with current insurance and a good driving record may also be required.
What Are the Job Outlook and Salary Expectations for a Leasing Consultant?
According to the BLS, property, real estate, and community association managers in general held 202,550 jobs as of 2018 (www.bls.gov). A career as a leasing consultant can be an entry point if you are looking to advance in sales, marketing, or management. As reflected by the BLS, employment of property, real estate, and community association managers in general was projected to increase by 7% from 2018-2028. The median salary of people in these occupations was $58,340 as of May 2018.
What Are Some Related Alternative Careers?
Those interested in becoming a leasing consultant might also want to look into some related careers which require a similar level of education. For example, real estate brokers and sales agents work with clients to help them rent, buy, and sell properties. They are required to have a high school diploma as a minimum. Administrative services managers work in a variety of organizations. They take care of the administrative tasks in offices, such as recordkeeping and office upkeep. Administrative services managers are required to have a bachelor's degree to gain employment. Property managers make sure a property is well managed and well maintained and that it preserves its resale value. They usually need to have a high school diploma.