Leasing associates are the lifeblood of a real estate business. An effective leasing associate can be the difference between a vacant building and a fully rented one. In this post, we’re going to share some tips to help you hire a great leasing associate.
High achieving leasing associates are tenacious, proactive, and sociable. They are problem solvers and stay informed on the multifamily industry and community they work within.
Leasing associates ultimately answer to the company they work for but require finesse in actively listening to tenants and prospective tenants' concerns. During tough rental periods (i.e., high vacancies), they may need to employ negotiation skills. Understanding basic sales and marketing tactics help them succeed in giving rent deals or complex perks as necessary.
There are typical day-to-day responsibilities most leasing associates share. The top 5 responsibilities of a leasing associate include:
Community appearance - Ensure the community is always kept clean and presentable for residents, visitors, prospective residents, and vendors.
Leasing administration - Assist in all leasing aspects, including but not limited to, touring, accepting applications, phone calls, callbacks, and thank-you cards. Interact with current and prospective residents and vendors. Foster a positive, active, and collaborative relationship with residents communities associated agencies. Accept Notice to Vacate forms completes move-ins/move-outs in compliance with all company procedures (note: this can include the preparation of correspondence such as rent charges/eviction notices/collections etc.)
Showcasing vacancies - Show apartments to prospective leases, maintaining safety and security at all times.
Reporting & money management - Run daily reports as needed, accept rental payments, issue receipts, distribute notice letters as needed.
Legal responsibilities - Explain lease & appropriate addenda to new residents, walk though apartments and report necessary improvements.
These responsibilities are the core activities that make up an associate's working week. For those associates who are looking to make leasing or property management a career, you will need to stay on top of the latest technologies and trends that associates and managers in your industry are using.
Although regional management typically initiates the use of a new platform, technology, or best practice to use, knowing what these are and, to some extent, how to command them beforehand, will significantly impress them. Opportunities and promotions go to those leasing associates who demonstrate an understanding of the financial value and investment of complexes and how to manage them best to profit owners and investors.
In a competitive market, great people make all the difference. We hope that this post helps you find leasing associates that can help you grow your business.