How Much Commission Do Apartment Leasing Agents Make?

January 3, 2024

How much commission do apartment leasing agents make?

Leasing agents are paid a combination of hourly pay and sales commissions. They are often employed by property management companies to staff and run the leasing offices in their communities. They also work with a supervisor and maintenance, security and grounds teams to keep the community looking and feeling good for tenants. This is a great junior real estate career and a way to get into the field without taking as much risk as other areas of real estate investing.

While the average leasing agent salary falls below that of a real estate salesperson, it still is a solid income. Leasing agents are responsible for finding potential tenants, preparing rental applications, processing and qualifying them for the unit, and creating lease agreements. Depending on the market, this can be quite a lucrative job.

Another aspect of a leasing agent's job is showing the apartments to prospective tenants. This requires them to be outgoing, friendly and responsive to the needs of their customers. This is a very people-oriented job that is perfect for those who enjoy being out in front of the public.

Owner pays (OP) is another way that landlords or property managers try to move units in a slow market. This is where the landlord covers the brokerage fee for the lease, which could be as little as half a month's rent or up to two months' rent.

It is possible for leasing agents to earn more than this, as many are employed by large brokerages who get paid on a base salary and then share the commission with the agents. This is especially true in cities like New York City where there is a high demand for rental properties.

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