Leasing Manager/Property Salary
Property Leasing Managers in the United States can expect only a modest salary, with average pay of just $40K per year. Geographic location and years of experience each impact pay for this group, with the former having the largest influence. Most Property Leasing Managers survey respondents are women (76 percent). Unfortunately, some people in this line of work are without benefits — close to a fourth lack coverage. On the flip side, the greater part have medical insurance and a little more than half receive dental plans. The majority of workers are highly satisfied with their job. This report is based on answers to PayScale's salary questionnaire.
Job Description for Leasing Manager/Property
Real estate companies that manage properties use a leasing manager/property to handle a wide variety of necessary tasks. For residential leasing, the manager is normally assigned to either apartment complexes or a series of leased individual homes. For commercial leasing, the property manager oversees entities such as strip malls and shopping centers for the landlord or real estate deed holder.Read More...
In many situations, whether residential or commercial, leasing managers' duties are similar. The manager helps ensure that the property is maintained. He or she typically performs inspections of the exterior (and, as is allowed, the interior) of rental properties. The leasing manager then helps set up appointments for prospective renters to see the property, offering tours and necessary information. For residential properties, the leasing manager must accurately quote rent and deposit information, as well as offer utility estimates, to prospective renters. In commercial leasing, the manager likely needs to be able to offer demographic studies for the nearby residential areas and provide traffic estimates to the business in addition to rental and lease rates.
The leasing manager is expected to keep occupancy of the properties they oversee as full as possible. This may mean advertising and aggressive promotion of properties through a variety of media. The leasing manager also oversees the collection of rent and verifies all payments. If collection is necessary, the manager facilitates that as well, and serves as the primary agent to take action against delinquent renters.
To work as a leasing manager/property, a person typically needs at least a high school diploma or equivalent, as well as experience in leasing work; this may involve some vocational training and even real estate board certifications. The leasing manager frequently works during regular business hours, but may also need to be on call to assist renters and show properties on off-hours to prospective tenants as well.
Leasing Manager/Property Tasks
- Lead tours of the property, and build rapport and follow up with potential tenants.
- Participate in and implement resident retention programs.
- Conduct walk-throughs, and inspect the community grounds and models to ensure cleanliness.
- Assist tenants in completing lease paperwork, and process deposits and rent payments.
- Respond to all leads generated within a reasonable amount of time, and maintain documentation of calls and visits.
Common Career Paths for Leasing Manager/Property
Property Leasing Managers' salaries may rise greatly for those who assume a higher-end position such as a Commercial Property Manager. The average Commercial Property Manager brings home $56K per year. As Property Leasing Managers progress in their field, many go on to become Property Managers. In fact, this transition is more common than anything else, and pay for the position is usually $42K per year. Another common career choice for Property Leasing Managers is to move into an Assistant Property Manager role. Typically, Assistant Property Managers get paid $36K.
Leasing Manager/Property Job Listings
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Popular Skills for Leasing Manager/Property
Typical Property Leasing Managers report a focused set of job skills. Most notably, skills in Property Management, Customer Service, Sales, and Social Media Marketing are correlated to pay that is above average. Those listing Customer Relations as a skill should be prepared for drastically lower pay. Social Media Marketing and Sales also typically command lower compensation. Most people experienced in Customer Service also know Sales.
Pay by Experience Level for Leasing Manager/Property
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $35K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $43K. Property Leasing Managers see a median salary of $43K after reaching one to two decades on the job. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $44K, which is substantially larger than the medians reported by folks with fewer years on their resumes.