How Many Jobs are Available in Rental and Leasing Companies?

How Many Jobs Are Available in Rental and Leasing Companies?
How Many Jobs Are Available in Rental and Leasing Companies?

Rentals and leasing are undeniably important components of the real estate industry. Because rental properties will always be in demand, you will have an easier time finding work in this field. A leasing agent position gets you started.

Like real estate agents, rental and leasing agents help people find properties to rent, handle all lease paperwork, and provide customer service. However, unlike real estate agents, they typically work for a single leasing company or apartment complex. Because they are constantly present in the residential area, rental and leasing agents are frequently required to build rapport with residents and provide personalized service.

If you want to advance in sales, marketing, or management, a rental and leasing consultant career could be a good place to start. According to the Bureau of Labor Statistics, property, real estate, and community association managers’ employment is expected to grow by 3% between 2020 and 2030. As of May 2020, the median wage for these occupations was $59,660.

This article will discuss how many jobs are available in rental and leasing companies and how much money they can make.

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How Many Jobs are Available in Rental and Leasing Companies?

There are numerous jobs available in the rental/leasing industry for those interested in assisting with purchasing, managing, or selling properties. You could work in residential, commercial, or retail real estate. Understanding the various real estate occupations available can assist you in determining which aspect of the industry best suits your skills and preferences.

Below are some jobs available in the rental and leasing industry:

1. Leasing Agent 

The average Salary is $22,677.

A leasing agent frequently represents property owners by meeting with potential tenants and giving property tours. The agent will screen applicants, determine tenant qualifications, and process lease documents. These individuals may also define lease terms, collect security deposits, and renew current tenants’ leases.

2. Foreclosure Specialists

Average Salary: $40,595

Foreclosure specialists help homeowners whose homes the government is foreclosing on and forcing them to leave. To determine the client’s options, they examine liens, inspection reports, insurance policies, bank statements, payment histories, appraisals, and other documents. They may occasionally assist clients in applying for a restructured loan to avoid foreclosure.

3. Leasing Expert

Average Salary: $43,428.

A leasing consultant meets with prospective tenants and shows them available properties. In addition, the consultant can explain lease terms and process rental applications. These people frequently assist current tenants by scheduling maintenance work orders and processing lease renewals.

4. Real Estate Manager

Average Salary: $45,664  

A property manager manages the administrative duties associated with marketing a rental property, negotiating leases, and maintaining the property. A property manager determines the appropriate rental rate for the area, collects rent, and manages the budget to ensure the property is profitable. The manager can also hire maintenance and landscaping professionals and schedule repairs.

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5. Examiner of Titles

Average Salary: $49,795 

Before a new owner purchases a property, a title examiner ensures that the title is free of other claims. These individuals search public records and prepare the necessary documents to ensure the title’s legality. They may also check the accuracy of client and property documents.

6. Administrator of Leases

Average Salary: $50,337.

A lease administrator manages the leases for one or more rental properties. This person drafts and reviews lease agreements, producing the full lease and a lease abstract containing a summary of the lease agreement’s key details. The manager collects rent and other tenant payments, renews leases, and manages associated taxes and other expenses.

7. Real Estate Manager

Average Salary: $53,951.

Real estate managers assist property owners in listing and selling their properties. These professionals assist their clients in maximizing their return on value with any commercial or residential property sale. Their duties include market research, due diligence on the property or terms of purchase, marketing the property, and negotiating property agreements.

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8. Mortgage Processors:

Average Salary: $55,066.

Mortgage processors can collaborate with title or escrow companies to gather property information for their clients. These people can also put together, administer, and process loan documents. Other responsibilities in this role include analyzing credit scores and keeping track of deadlines to ensure clients submit paperwork on time.

9. Leasing Agent

Average Salary.: $63,421 

The leasing manager manages multiple apartments, condos, or rental homes and oversees activities throughout the entire rental property. This person keeps the property occupied by properly marketing it, maintaining the rental spaces, showing available units, and processing paperwork. Leasing managers have authority over leasing agents and consultants.

10. Commercial Property Manager 

Average Salary: $65,903 

A commercial property manager is in charge of the upkeep and leasing of commercial properties. These individuals work for shopping centers, malls, or multi-story office buildings. The manager is in charge of leasing, collecting rent, and overseeing maintenance and repairs.

11. Mortgage Broker

Average Salary: $91,171.

When executing a mortgage, a mortgage broker acts as an intermediary between the lender and the borrower. The broker works for the real estate buyer and assists with loan origination.

A broker can assess their client’s financial situation and present several lender options and loan programs that are appropriate for the buyer’s needs. The broker then negotiates with the lender on behalf of the buyer.

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12. Realtor

Average Salary: $98,413

A realtor is an independent contractor who works with people who want to buy and sell a home. They work with their clients throughout the process to guide them and find the best deal for their budget. These individuals may also host open houses for a client’s home to generate more leads for the seller’s home and to provide feedback to the client on what buyers say about their home. The sellers can use the realtor’s feedback to improve their home and potentially sell it faster.

13. Officer of Compliance

Average Salary: $59,190.

A compliance officer can organize and review a real estate firm’s policies and procedures to ensure they are following local, state, and federal government regulations. They can also ensure that the company’s employees follow the policies at work. When necessary, these individuals can update company accounts and procedures.

14. Home Inspector

Average Salary: $60,825  

A home inspector inspects real estate properties to alert potential buyers to any problems. The inspector examines the electrical and plumbing systems; water quality; interior and exterior structures; heating, ventilation, and air conditioning (HVAC) systems; roofing; attic; flooring; and other aspects of the home. The inspector informs the potential buyer about the property’s condition and provides advice on improving and caring for it.

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15. Mortgage Loan Originator

Average Salary: $283,220 

Mortgage loan originators assess applicants, determine loan eligibility, and carry out loan proposals and contracts. They are well-versed in the various home loan programs available. Some responsibilities include advising prospective homebuyers on how to secure a mortgage and recommending the best loan programs for their needs and financial situation.

Job Outlook for Rental and Leasing Careers

According to the Bureau of Labor Statistics, there were 6.43 million people employed in the finance, insurance, real estate, rental, and leasing sectors in 2019.

According to ACS estimates, the number of people employed in the Finance & Insurance and Real Estate, Rental & Leasing industry sectors has increased at a rate of 1.06%, from 9.57M in 2019 to 9.67M in 2020.

At 7.95%, financial managers hold the most positions in finance and insurance and real estate, rental, & leasing, followed by real estate brokers and sales agents at 6.52% and insurance sales agents at 5.18%.

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FAQs On How Many Jobs are there in Rental and Leasing Companies?

How many jobs are available in rental and leasing companies?

There are numerous jobs available in the rental/leasing industry for those interested in assisting with purchasing, managing, or selling properties. You could work in residential, commercial, or retail real estate. Understanding the various real estate occupations available can assist you in determining which aspect of the industry best suits your skills and preferences.

What is the job outlook for rental and leasing careers?

According to the Bureau of Labor Statistics, there were 6.43 million people employed in the finance and insurance and real estate, rental, and leasing sectors in 2019.

Why do rental and leasing stand out as a career path?

Rental and leasing is a road map showing how you might progress from one job title to another. The career paths are particularly detailed in terms of salary changes. So, for example, if you started as an account executive, you might eventually advance to a position such as a manager. You might end up with the title of property manager later in your career.

Conclusion

Careers in rental and leasing can be both rewarding and challenging. It’s an excellent career path for people who enjoy sales and are good with people. Starting as an intern or assistant and working your way up the ladder is the best way to become a rental and leasing consultant. There are numerous resources available to assist you in learning the ropes and getting started in this exciting field. What exactly are you waiting for? Begin your journey right now!

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