Coming out of the pandemic, the housing market’s upward trend is showing no signs of slowing. The median price for existing single-family homes is at an all-time high.
Skyrocketing home costs also are driving up demand for rental units, which is resulting in more development and competition in the industry. And it means more to navigate.
That is why many property rental agencies are turning to leasing specialists. This is someone who can focus on--and in some ways streamline--the processes involved in showing and renting apartments or homes. But is one worth the cost to you or your business?
The information below provides a breakdown of the responsibilities of a leasing specialist. Keep reading to see how you might benefit from their services.
Leasing Specialist Responsibilities
A leasing specialist job description comprises all aspects of the rental process. This includes marketing, engaging with clients, showing properties, and walking them through the rental agreement.
A leasing specialist will manage data on a wide range of available residences for rent in your area. They will have a sense of what is a competitive price for your unit.
Leasing agents will have a finger on the pulse of new developments and renovations in the area. This can help you stay up to speed on what the market is like at any given time and what the near future holds.
A leasing specialist also will help you reach prospective renters, those most likely to be interested in your property. For instance, if you are trying to rent a condo in a trendy area with lots of restaurants and nightlife, the agent will focus on a younger demographic. If it’s a single-family home in the suburbs, they will understand the avenues for reaching that cohort as well.
Leasing agents can advise you on all aspects of marketing. This includes everything from what pictures and description to use, to where you should advertise and what social media strategy to use.
If you do not have residential properties, look for a commercial lease specialist. They will have specific knowledge of the business rental environment and how to navigate it.
The Rental Process
A leasing specialist will do for rentals what real estate agents do for properties for sale. For instance, they will prepare rental-specific information about amenities to distribute to potential clients.
Before showings, an agent will ensure the rental is presentable. This includes the interior and exterior of the house or apartment. This might involve cleaning up trash left on the lawn or common area or sweeping off steps or sidewalks for showings.
Most importantly, leasing agents engage with prospective clients. They will answer any questions they might have and address any concerns. Even negative feedback can be useful in determining how to make your properties more rentable.
Leasing agents ensure that clients have all the information they need to make an informed decision about leasing their next home or apartment. They will make sure clients understand all aspects of the lease.
Find a Leasing Specialist Today
Now that you understand the functions and responsibilities of a leasing specialist, you can determine if one could benefit your business.
Novel Management is Miami’s premier property management business, where no project is too big or too small. We handle a variety of residential units, from condos and townhouses to multi-family properties. Reach out to us today to see what we can do for you.