What is a Leasing Agent?

business economy

A leasing agent, or commercial leasing agent, works for the landlords of shopping centers or office buildings to find tenants. A leasing agent earns a commission for finding tenants and usually handles all aspects of leases. Excellent negotiating skills and the ability to recognize a qualified tenant are crucial characteristics of a good leasing agent.

Landlords expect the leasing agent to rent their properties to responsible commercial tenants for a fair price. Landlords require a fair return on investment (ROI), while tenants require a fair rent and the right location for their business. The leasing agent is hired to serve the landlord, so the tenants must take responsibility for ensuring that the location and terms of the lease meet all of their requirements.

A prospective commercial tenant should ask the leasing agent what the total rent is for utilities as well as if there are any other fees. The prospective tenant should consider details such as air conditioning, noise level, zoning regulations, and availability of parking. Room for company growth should be considered to be sure the space will be large enough so the company will not be forced to move again too soon.

The leasing agent must find out as much information from the prospective tenants as possible to ensure a good fit for the landlord's property. Both the leasing agent and the prospective tenant should be sure and informed about the leasing decision. Neither party should be made to feel rushed and the lease is not legally binding unless it is signed by both the tenant and the landlord.

The leasing agent usually has a meeting with the prospective tenants to communicate the terms of the property lease such as the amount of rent and any regulations. When, and if, an agreement is reached, the leasing agent sends a copy of the lease to the prospective tenants requesting a signature so that the landlord can then sign the lease agreement.

Real estate experience is helpful in becoming a leasing agent, but knowledge of each particular property up for lease is absolutely essential. Many leasing agents receive a salary plus commission, but this may depend on whether the position is temporary, part-time, casual, or on a contract basis as opposed to full time. Some post secondary education is usually preferred. The commission earned by a leasing agent is usually based on a percentage of the monthly rent the new tenant will pay.

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New: Discuss this Article

Posted by: anon1395
I am new to the idea of being a leasing agent and wanted to know if I have to pay money to get a license and go to classes etc. Also, can a leasing agent make a decent living? I hope this questions is not to much. Thank you.
Posted by: pressbox22
In Florida, does a leasing agent have to be licensed as Florida Sales Associate (Realtor) since they are negotiating leases?
Posted by: anon5854
In GA, do you have to have a real estate license to lease commercial space and if not can you legally take a commission for finding a prospect?
Posted by: anon8436
In florida, you do have to have a real estate license to rent property, to lease property you don't, it's very confusing, also, above it was stated a real estate sales associate and a realtor are the same things, when in fact they are two completely different things, you can be a real estate sales associate and not be a realtor, but you can't be a realtor without being a sales associate, basically if you are a realtor, all it means is that your broker is a member of the NAR (National Association of Realtors), it's is nothing more than an association, and you have no more right than an associate with or without the membership

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