What Does a Leasing Agent Do? Everything You Need to Know
Managing a rental property comes with more work than most people expect—advertising vacancies, answering calls, showing units, and sorting out lease paperwork. Instead of juggling it all, many landlords turn to leasing agents for help. But what does a leasing agent do, how much do they charge, and is hiring one worth it for your rental? Let’s find out.
Main Takeaways
- A leasing agent helps market a vacant property, respond to renters, arrange tours, handle applications, and prepare for move-in. The exact duties depend on the services the landlord hires them to provide.
- Leasing fees vary. Ask what the fee covers, when it’s due, and if there are any separate charges before signing an agreement.
- Licensing rules depend on the state and the work the agent performs. In Virginia, certain employees of licensed real estate brokers may perform limited leasing duties without their own salesperson’s license.
What Does a Leasing Agent Do?
A leasing agent is the person who helps landlords rent out their properties, such as houses, apartments, or even commercial spaces like offices or retail stores. Their main job? Helping you find a qualified tenant and get the lease in place. Luckily, an experienced property management company in Northern Virginia can handle all these leasing tasks for you—and even take care of managing your property.
They post ads, answer calls from potential renters, show them around the property, and assist with all the necessary paperwork to finalize the lease. Then, once they find a qualified tenant and hand over the keys, their work is basically done.
Duties of a Leasing Agent
We’ve talked about what leasing agents are, but what does their job really look like on the ground? Here’s a peek at the key tasks they take on to keep your rental running smoothly.
1. Marketing and Advertising the Property
Leasing agents know how to market your rental to prospective tenants. They use a bevy of methods in their arsenal. For instance, they use online listings, social media, and even traditional signage to grab attention fast—and keep inquiries coming in.
2. Handling Tenant Inquiries
When a potential tenant has a question about the rent or wants to schedule a tour, the leasing agent responds. They keep the conversation moving so interested renters know what to do next.
3. Conducting Property Tours
Leasing agents don’t just open doors—they walk potential tenants through the property, highlight its best features, and answer questions on the spot to help them envision it as their next home. They’re there to guide tenants through each corner and crevice and show them in their best light.
4. Screening Potential Tenants
Depending on their role, leasing agents may help process rental applications, verify information, and coordinate permitted background or credit checks. Any screening criteria should comply with applicable laws and be applied consistently to all applicants.
5. Drafting and Explaining Lease Agreements
Once a tenant gets the green light, the leasing agent prepares the lease. Furthermore, they take time to explain the important details—like payment terms, responsibilities, and move-in dates. This way, there are no surprises when it’s time to sign.
6. Overseeing Move-ins
Leasing agents coordinate move-in day details. To give you an idea, they hand over the keys, check the property’s condition, and answer last-minute questions. Their main goal is to ensure tenants have a smooth start.
How Much Does a Leasing Agent Cost?
Leasing fees vary by market and service. Some companies charge the equivalent of one month’s rent when they place a tenant. For a rental listed at $1,800 per month, that would mean a $1,800 leasing fee.
Before hiring an agent, ask what the fee includes and when it’s due. Photography, advertising, showings, screening, and lease preparation may be included or priced separately. Also check the agreement for any tenant-placement guarantee.
Do Leasing Agents Need a License?
Licensing depends on the state and the tasks a leasing agent performs. In Virginia, certain employees of a licensed real estate broker may perform limited leasing duties without their own salesperson’s license. Depending on the circumstances, those duties may include providing factual rental information, accepting applications, handling broker-approved rental agreements, and, for employees working on the premises, showing residential units. However, the exemption has specific conditions and does not permit these employees to negotiate rental agreements, rent, security deposits, or other payments.
For someone whose work requires a Virginia real estate salesperson’s license, the licensing process includes:
- Complete 60 hours of approved pre-licensing education.
- Pass the Virginia state and national real estate exam.
- Undergo a background check and submit an application to the Virginia Department of Professional & Occupational Regulation (DPOR)
Skills Every Good Leasing Agent Needs
As an investor, you need to know what to look for in a leasing agent. It’s not just about showing a house or helping with paperwork. A great agent goes the extra mile, blending people skills with professional expertise. Here are the key skills that set them apart:
- Communication skills – A great leasing agent knows how to break down complex information into simple terms, listen closely to what tenants are asking for, and keep landlords informed without you having to chase for updates.
- Marketing knowledge – They shouldn’t just slap your listing online. From crafting scroll-stopping ads to picking the right platforms, a skilled agent knows how to effectively market the property and generate qualified inquiries.
- Problem-solving skills – A great agent can handle last-minute cancellations or tough questions without letting things fall apart. They can work quickly on their feet. In our experience, the ability to do this is what sets a good and truly great agent apart.
- Time management – With so many responsibilities on their plate, staying organized and meeting deadlines is a must. If they can’t juggle a lot at once, they might not be up for the task. So, be sure they have that skill.
- Negotiation skills – They know how to balance the needs of tenants and landlords to get fair lease terms. Being able to be the middleman in these kinds of situations is paramount.
How to Become a Leasing Agent
If you’re thinking about starting a career as a leasing agent, you’ll need more than just a license. While we’ve already covered the legal requirements, thriving in this role calls for strong people skills, a keen eye for detail, and a passion for helping landlords and tenants.
If your role requires a salesperson’s license, you’ll need to work with a licensed broker. From there, you can build hands-on experience with tours, applications, tenant screening, and lease preparation.
Many successful leasing agents also take advantage of local real estate associations and online courses to stay on top of market trends and Fair Housing laws.
Challenges of Being a Leasing Agent
Leasing isn’t all property tours and signed contracts—it also comes with its fair share of challenges. High turnover in rental properties can keep agents on their toes, with constant marketing, back-to-back showings, and managing multiple applicants at once, all under tight timelines.
Then there are the people challenges. Late applications, no-shows, and last-minute cancellations test even the most patient agents. Staying calm and finding quick solutions is part of the job.
There’s also the pressure of staying compliant with laws like the Fair Housing Act and landlord-tenant laws. A single oversight in advertising or tenant screening can lead to legal issues for both the agent and their client.
Finally, because many agents work on a commission basis, their income can fluctuate depending on the market. During slow seasons, it takes extra effort to bring in new leads and keep business steady.
FAQs About Leasing Agents
A leasing agent can take much of the work off your hands when your rental is vacant. Here are a few questions landlords may have before hiring one.
What is the difference between a leasing agent and a property manager?
A leasing agent focuses on finding a tenant and getting the lease started. A property manager may also handle rent collection, maintenance, tenant communication, and other work throughout the tenancy. Some companies offer both services.
Does a leasing agent screen tenants?
Many do, but you should confirm what their service includes. Ask who reviews applications, verifies information, runs any permitted checks, and makes the final approval decision.
How much does a leasing agent charge?
The fee depends on the market and the agreement. Some charge an amount equal to one month’s rent; others use a different fee structure. Ask when payment is due and what happens if the tenant leaves soon after moving in.
Does a leasing agent manage the property after move-in?
Not always. Some leasing agents finish their work once the lease is signed and the tenant moves in. If you want ongoing help with repairs, rent collection, and tenant requests, ask about full-service property management.
Does a leasing agent need a real estate license in Virginia?
It depends on what the person does. Virginia has an exemption for employees of a licensed broker performing certain limited tasks at a property the broker manages. Work outside an exemption may require a license, so landlords should check the agent’s role and credentials.
From Leasing to Full Management, We’ve Got It Covered
Leasing agents handle the heavy lifting—finding tenants, marketing your property, and managing the paperwork.
Meanwhile, at Bay Property Management Group, leasing is just the beginning of our full-service package. Even once our leasing agents’ role in your rental process is over, that’s just the tip of the iceberg. We can continue to help throughout the entirety of renters’ tenancies. Here’s a sample of just some of what we can handle for your property:
- Implementing legal compliance on a federal, state, and local level
- Handling property inspections
- Coordinating maintenance and repairs
- Analyzing your local market to help you adjust your rental rates accordingly
- Accounting for received payments, purchases, taxes, and more…
…All so you can have more time and less stress. Ready to simplify your rental business? See how we can help.
