Posted in Blog  
  on Aug 05, 2014

What is an Apartment Leasing Agent Salary

Having a good apartment leasing agent is critical to the success of any rental property. A good agent will help build relationships with existing tenants, recruit new tenants, and work to keep the entire property well maintained. How much you should pay a good leasing agent is up to the individual employer, but certain market factors do play a role, such as location, the average wages in the area, and your desire to keep a good employee.

After all, the apartment leasing agent is the employer's contact with the tenants.



The Average Salary In the United States Is $40,000


Apartment leasing agents earn a wide range of salaries in the United States. Entry level positions may have a salary as low as $24k per year and this may be paid in hourly wages or on a static salary. On the other end of the scale, some apartment leasing agents make over $100k per year. The location of the apartments is one of the biggest contributors to this range of salary, as employees in New York City and California make more than $30k above the national average.

The amount of education that an apartment leasing agent has will also reflect on the amount of salary that is awarded. Agents that have a Bachelor's Degree typically make about 10% more than employees that do not have a degree. Those with a Master's Degree will make about 30% more than other employees. An apartment leasing agent that has an MBA is likely to make the most money of all.

Not included in these salary figures are the extra benefits that employees may receive as well. Health insurance, vacation time, sick time, and wellness programs also contribute to the full compensation package of the agent.



What Can Be Done To Improve an Agent's Salary?


Are you an apartment leasing agent who is looking for the chance to earn a raise? Many employers look at the overall occupancy rate as an indicator of the success or failure of an agent. Above even the physical property management aspect of the job, high consistent occupancy rates will generally bring about a better chance to receive a raise.

Another typical area of performance review is in regards to the creativity and community involvement an agent has. Agents who run low-cost, creative advertising campaigns to increase occupancy rates typically see higher salaries than those who just work to manage the properties solely. Community involvement also leads to naturally higher occupancy rates, so agents with strong ties to the community are sought after commodities that can command higher wages.

What is a fair salary in your community? Rural communities tend to pay less than metropolitan areas. Even so, a good apartment leasing agent is definitely worth every dollar they earn. Make yourself valuable, hold onto the good ones, and you'll be able to earn a fair, competitive wage for the job that gets done.

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