A leasing consultant helps in leasing the property and maintaining the property. You will be working as a property specialist interacting with tenants on behalf of landlords or property management companies in this role. You should be well versed in the tenant life cycle to contribute in important phases such as property viewings, handling rental applications, lease negotiation and renewals. The goal of a leasing consultant is to serve customers and tenants. Let us now see some basic formats that are hugely popular:
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Job duties of a leasing consultant
In the real estate industry, we often interchangeably use agent and consultant titles because.some functionality or job responsibilities may overlap. However, it is the objective of each title that sets them apart. As an agent, you aim to add to your firms’ revenue. As a consultant, your aim is to give your expert advice or serve your customer with problem-solving initiatives. We have listed some of the tasks you will be responsible for as a leasing consultant:
Gathering information from prospective residents to see if they qualify for the lease.
Meet with prospective residents to understand their needs, preferences and budget.
Responding to inquiries from prospective tenants via phone and email. Based on this, you would prepare work orders for services and triages to promote positive resident relations.
Preparing and maintaining files for each resident, both potential and existing clients, as per company policy.
Coordinating property viewings, following up and updating the contact management database for the potential residents.
Negotiating lease terms with landlords, property management companies and taking care of leasing paperwork.
Preparing new lease agreements and assisting residents with move-in processes. This will include collecting initial rent and security deposits.
Proactively contacting residents when a lease is nearly expiring and share the renewal contract details along with the value of a residence.
Reinforce the value proposition to secure renewal and complete all forms and data entry related to it.
Ensuring that all processes are done through the proper laws and regulations and company policy.
Leasing consultants median salaries
As per the U.S. Bureau of Labor Statistics, the median annual wages for real estate, rental and leasing jobs for May 2019 was $58,780. This includes higher-paid real estate agents and brokers as well. The job growth prediction is 2% for the next 10 years for real estate brokers and sales agents. As a leasing consultant, the job growth will be in the same bracket. Many employers also offer bonus incentives based on your closing deals.
Top skills for leasing consultants
Leasing consultants require a range of skills that are key to customer service and communication. These are some of the necessary skills to be a successful leasing consultants:
- Attention to details: As a leasing consultant, you are responsible for recording agreements in line with the rental and leasing laws. This data tracking will test your attention to detail with little room for error.
- Computer proficiency: A leasing consultant should be well-versed with the latest trends of the industry. For property management, softwares such as Yardi will help you excel in maintaining electronic records of available properties, post new entries of properties ready for sale or leasing,and placing orders for real estate.
- Customer service: Leasing consultants will also be dealing with customer service constantly. It is your responsibility to answer queries from tenants and solve any issues that may arise during their lease. It is up to you to also create successful marketing campaigns and activities to visit and tour properties.
- Property touring: Property tours have a long logistical process beforehand. To start you need to know the rules and requirements of individual properties so you can prepare listings with a detailed description of the units, neighborhood features, basic amenities and any added features. While on tour, you have to be ready to close a new rental lease and address any issues.
- Property and product knowledge: As a leasing consultant it is imperative to know the property you are selling and the property laws surrounding it. This information should be used throughout your marketing campaigns for the property and should be communicated to potential clients from the start of the process.
- Expert at data entry: Curating information is part of the responsibilities of a leasing consultant. Through the use of data entry you can verify the status of an application, prepare lease agreements or rental contracts and conduct background checks, appointments or follow-ups with your customer.
Leasing consultant education and certifications
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Degree:
A bachelor’s degree in real estate, communication, business, and finance is preferred for a leasing consultant; however, most real estate companies do have on-the-job training and accept candidates without degrees. -
Certifications:
Certifications in real estate come from associations and institutions that are renowned throughout the industry. If you wish to add more credibility to your application, you should consider some of these certifications:
Universities and colleges: Universities and colleges now provide both on campus and online courses in real estate. For example, the University of Toledo offers a commercial real estate minor that explores subjects such as real estate principles, taxes, laws and finance.
Member associations: A Certified Leasing Professional (CLP) is a professional certification program that offers training to set professional standards in residential leasing services. The CLP curriculum covers topics such as leasing techniques, fair housing, and property merchandising. CLP recertification is required every two years for upkeep.
For-profit educational companies: Another option are online courses in real estate or property management through platforms like Coursera, Udemy, edX. Udemy offers leasing courses for specific topics such as Luxury Homes and Commercial Real estate lease modeling. They also have a Certified Real Estate Seller Specialist course.
Leasing consultant resume-writing tips
You shouldn’t need to worry if you are an entry-level employee coming into the industry. We are here to give you advice on how to use your skills developed through your short experiences to create a stellar resume:
- Choose the right format: Leasing consultant can be your first job ever or the first job within the real estate industry. A lot will depend on the impression your resume creates with the hiring manager. If you have relevant experience in data entry, record-keeping or tenant relations or property maintenance, then a functional will be best to showcase all your skills. If you have some experience in the real estate industry then a combination/hybrid or chronological will best suit you to showcase your skills and work experience.
- Include skills that matter: If you decide to go with a functional or a skill-based resume, you need to ensure that you possess the skills that matter. For example, you are excellent at communication. Therefore, ensure you include skills such as effective engagement, negotiation and swift closures. You can also include adaptability, time management and scheduling skills.
- Stick to relevancy: Begin by reading the job description and listing your skills and experience against it. If one of the job description states that you will need “to collaborate with tenants & owners for meeting property management requirements”, you may include your customer service skills, engagement and instances of when you coordinated with other departments. This will help the interviewer have an idea of how you can be the candidate they are looking for. Record keeping and documentation filing or any related experience in facility management, sales or marketing can be applied to real estate as well.
FAQ
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How do I advance my career as a leasing consultant?
There are many career opportunities for leasing consultants. The obvious direction will be to pursue the relevant field of real estate. Some options are as below:
A real estate agent or broker. You will require an agent/broker license to be able to sell/buy a property. Having experience in real estate will give you a solid foundation. As per the U.S. Bureau of Labor Statistics, the median annual wages for real estate and rental and leasing for May 2019 was $58,780.
A property, real estate and community association manager. As a property or community association manager, you will have the broader responsibility of handling budget, finance, operational and revenue activities. The median annual pay as stated by the U.S. Bureau of Labor Statistics is $58,760. -
How can I improve my real estate understanding as a leasing consultant?
You will get most of the knowledge while on the job. However, a great way to keep yourself updated on market trends is to gather information through well-known companies and educational resources. As a leasing consultant, you can find industry-relevant information such as educational courses, news updates and conferences at the National Apartment Association and National Association of Residential Property Managers.