Many people often get confused about what a associating does exactly – how are they different from property managers? There is actually quite a large difference and we will talk about this through this article.
What Exactly Does a Leasing Associate Do?
Leasing associates are most commonly used in commercial projects, a good example is when a tenant is in possession of an office block, shopping center, or any other type of large commercial concessions. A leasing associate will be hired to help solely with the leasing of the property. They will earn a commission when they find suitable tenants for the landlord.
This role differs very much from a property manager as a property manager handles all management aspects of a property, whereas a leasing associate is only hired to help find and qualify tenants, and handle other aspects of leasing.
What Skills Would a Person Need to Excel?
As we have mentioned above, the main role of a leasing professional is to handle all aspects of leasing which involves finding a qualifying tenants; so in order to carry this out well, a good leasing associate will possess a strong ability to deal with people and also be a good negotiator. This will be a key aspect for the leasing agents obtaining the best deal, not only for the landlord but also for the tenant.
It's also important that the leasing associate is a good judge of character. Finding a tenant simply is not enough, tenants need to be qualified to ensure that they will abide by the rules set out in the lease, be good tenders, and maybe even extend the duration of their agreement. Landlords and leasing agents do not want to deal with tenants who are going to cause disruption and miss rent payments.
Becoming a good leasing associate is actually much more difficult than it actually sounds. Many people assume that because associates may handle only a few properties and talk with commercial prospects (which is arguably, much easier compared to residential) then they have an easier job. This simply is not true though.
Leasing agents have to know a lot about the property that they are trying to lease to the prospect. At the end of the day, they are not just working for the landlord, but they're also working for the tenant . The conditions need to be right for every party involved to ensure that the agreement is going to carry on.
What's your opinion leasing agents and their responsibilities? Do you think the job is much harder than it looks, or do you think leasing agents have quite an easy time?