Leasing coordinators
are responsible for all aspects of leasing on a rental property.
Renting an apartment or similar property is a great option for people who can't afford to purchase a home or who know they will not reside in an area for an long period of time. With so many people renting for these reasons, property managers sometimes need the help of leasing coordinators. These real estate professionals are similar to leasing agents, but have more of an administrative role.
Duties
Job descriptions posted on Jobcircle.com and Careerbuilder.com indicate that leasing coordinators assist with any lease renewals and permits. They also abstract leasing contracts and work with attorneys to get working drafts of leases. Leasing coordinators conduct background checks and take care of any insurance that the property has to have in order to rent a unit. Like property managers, they may assist in rent collection and resolve disputes in billing. They may oversee, hire or terminate and train leasing agents. Lastly, property managers maintain and audit leasing files, either in hard or digital format.
Compensation
Simplyhired.com shows that leasing coordinators make an average of $40,000 per year as of 2010. 2010 data from Salaryexpert.com indicates that a leasing coordinator with a lot of experience who works in a large property may make as much as $60,000 annually. These figures may not include benefits such as discounted rent (if the coordinator lives on-site).
Work Environment
The work environment for leasing coordinators is similar to that of other real estate workers. Leasing coordinators have an office "home base," but may travel to vendors, attorneys or seminars as needed. They may frequently walk the property to verify compliance with state regulations and vacancies. Hours may be long based on the amount of leasing traffic and property management needs.
Skills
Leasing coordinators should have good communication skills, as they are involved in drafting legal contracts and resolving disputes. They should have an aptitude for mathematical calculation, since they are involved in rent and debt collection and may need to coordinate budget plans to ensure rentals. They should be well organized so that their data analysis and entry is accurate and efficient.
Education and Experience
Because leasing coordinators are involved in property management, employers generally prefer applicants who have a minimum of a bachelor's degree, according to the Bureau of Labor Statistics. This degree should be in real estate, business administration, public administration, accounting or finance. Most employers want at least a year of experience in real estate, with some wanting as many as five to seven. If an applicant does not have this experience, then the applicant will need to rely on her degree.
Tags: leasing coordinators, real estate, Leasing coordinators, property managers, that leasing, leasing agents