What does a leasing consultant do? (With salary information)
Updated 26 January 2023
A leasing consultant is a professional within the real estate industry who assists tenants with the leasing process. These professionals help negotiate leases, answer client questions and match tenants with appropriate rental properties. If you're interested in a career within the real estate industry, you might consider becoming a leasing consultant. In this article, we answer the question "what does a leasing consultant do?" and address some other frequently asked questions about leasing consultants, including their qualifications, skills, work environment and earning potential.
Related: A guide to estate agent jobs
What does a leasing consultant do?
Leasing consultants are real estate professionals responsible for interacting with tenants concerning rental properties and who handle all tenant-facing aspects of renting a property on behalf of the property owner or building management company. The leasing consultant's work begins with advertising a property and ends with the termination or successful completion of a lease agreement. Additional responsibilities include:
responding to prospective tenant enquiries for the rental property through digital platforms and in-person
showing the property to prospective tenants, answering tenant questions and negotiating lease terms
establishing expectations for an initial security deposit, monthly rent procedures and building amenities included in the lease agreement
processing tenant background information, including a completed lease application, income verification, rental history and reference letters if applicable
ensuring proper execution of all lease terms in accordance with legal requirements and taking necessary steps in cases of tenant default
responding to tenant maintenance issues promptly, ensuring full resolution of the complaint
What are the requirements to become a leasing consultant?
While the requirements to become a leasing consultant can vary, generally a professional obtains the following:
Although not all employers require it, a bachelor's degree in real estate, business or a related field can help you find job opportunities as a leasing consultant. This degree takes approximately four years to complete if you enrol as a full-time student. You can also enrol as a part-time student if applicable. Many colleges and universities offer evening or online courses to accommodate working professionals or other applicants with unique scheduling needs.
Taking real estate courses outside of a bachelor's degree can also enhance your preparation and increase your competitiveness within the job market. Real estate courses, like pursuing a real estate license, cover topics like housing laws, how to create a lease and real estate financing. This can help you understand more about the housing market and ensure you have the necessary knowledge of legal renting and housing regulations.
There are private companies that run training programmes for aspiring leasing consultants, covering many of the same topics as a real estate degree or individual real estate course. These programmes may appeal to individuals looking for something shorter and less expensive than a bachelor's degree but more structured than an individual course.
On-the-job training is also a common pathway for leasing consultants to develop their skills. Such training may be part of an undergraduate internship or work experience in a leasing or property management firm. This training can occur before being hired as a leasing consultant or during the early years of your career. New leasing agents may report to a supervisor or consultant mentor who can provide a model of expected tasks and training. While training on the job, you typically receive a gradual increase in your responsibilities over time.
While employers don't typically require specific certifications for leasing consultants, it's often helpful to earn a certification to establish yourself in the real estate field. Research the requirements for jobs in your area and take note of which certifications prominent leasing professionals have. You might consider pursuing certifications in areas such as real estate law, luxury rentals, residential regulations and other related topics.
It may also be beneficial for you to pursue membership with the United Kingdom Apartment Association (UKAA). Membership with the UKAA can offer a variety of benefits, including:
access to new research
education and training opportunities
You can apply for membership with the UKAA as an individual, or you can ask your employer to purchase a membership for the entire business.
What skills do leasing consultants have?
Being an effective leasing consultant requires a unique combination of skills, the most important of which include:
Developing a personal connection with prospective renters increases the effectiveness of you matching them to a property that satisfies their interests and budget. For existing renters, these skills increase renter satisfaction and reduce turnover. Having strong interpersonal skills might also help leasing consultants gain more clients, as previous clients may be more likely to recommend consultants with whom they felt a connection.
Strong written and verbal communication skills are essential to the relationship-building and lease development functions of a leasing consultant. Being able to answer tenant enquiries in a timely and effective manner can expedite the lease application process and ensure the completion of a successful lease. Additionally, being able to translate legal and financial real estate terminology into language that's easier to understand makes the process more comfortable for prospective renters.
Attention to detail
Successfully managing the minute details of lease terms is critical to your success as a leasing consultant. This skill includes details related to moving-in procedures, financial transactions and conflict resolution. Being able to attend to those fine details across a wide client base ensures a successful experience for the individual clients and the company at large. Having strong attention to detail and observation skills also help leasing consultants notice more about their clients, which may help them find more appropriate rental options for them.
Negotiation skills are often helpful for leasing consultants when trying to persuade a client to sign a lease. Leasing consultants may negotiate terms with a future tenant, so having these skills can ensure that they come to a mutually beneficial agreement. For example, a future tenant may wish to add a pet to the lease and as a leasing consultant, you can negotiate a pet deposit to cover any possible damage the pet may have on the rental.
Industry knowledge can help leasing consultants understand more about the rental process. It also helps them keep up-to-date with information about the current housing market, which can affect the renting process. Leasing consultants use industry knowledge to advise clients and create effective leases.
In addition to understanding the housing regulations of their areas, it may also be beneficial for leasing consultants to have knowledge that can allow them to share tips with renters, such as rental-friendly decor or products. Although this isn't a requirement, possessing this knowledge may help you persuade tenants and help you find rental properties that meet their needs. For example, if you find a rental for a tenant but they don't like the flooring of the apartment, you might suggest a temporary flooring solution, such as peel and stick tiles.
Organisation skills allow leasing consultants to work with more than one client at a time and keep accurate and orderly records. This can help ensure an easier and more efficient leasing process. Having organisational skills may help leasing consultants adopt better time management practices as well, which allows them to be more productive at work.
What is a leasing consultant's work environment like?
Leasing consultants work in offices either on-site or close to the rental properties they support. Leasing consultants may work independently but commonly work in a team with fellow consultants and other real estate professionals, including real estate agents, property managers and maintenance staff.
The work hours can vary significantly from day to day and often include weekday and weekend hours to accommodate client availability to visit properties and complete paperwork. The work environment can be fast-paced at times, especially in a competitive real estate market with several interested applicants for a given property and pressure from landlords to fill vacant units quickly.
How much do leasing consultants earn?
According to Indeed, leasing consultants earn an average salary of £33,916 per year. A professional's salary can depend on a variety of factors, including their employer, location, educational background, experience level and job title. To gain a better understanding of the salary range you may earn as a leasing professional, consider the salaries for the following careers with similar job titles:
leasing agent: £33,205 per year
leasing associate: £25,651 per year
leasing professional: £27,131 per year
leasing specialist: £37,184 per year
leasing manager: £43,680 per year
You're likely to change salaries and job titles throughout your career, especially as you gain experience and earn promotions.
Salary figures reflect data listed on the quoted websites at time of writing. Salaries may vary depending on the hiring organisation and a candidate's experience, academic background and location.
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