Leasing Consultant Turnover

Hello Everyone,

I'm new to the industry and wanted to know why it appears that turnover for Leasing Consultants is really high? Is it my imagination or is my observation true? Can anyone please give some insight on why this is and how we can make it better?



Thanks!

I have a lot of experience in being a leasing consultant and just recently was promoted to Property Manager. Are you the direct supervisor to these leasing consultants? If so, when they quit do you find out why? In my experience there usually is a high turnover with leasing consultants. For many different reasons. The most common that I know of is that it's a tough job and often not rewarding enough.

Having worked in the industry for a bit, I can tell you only that in general, property management can be a tough gig. For those in the Leasing field, it can be tougher. They are expected to close every deal: get a signed application, collect the deposit, and get a lease signed from every person who steps through the door. Then they are expected to keep up the good relationship with the Residents and be a problem solver. Every day. If the chemistry is lacking in the office, then the work becomes a job. Also, I see many younger Consultants who find the position to be boring with not enough quick advancement. They may be college educated and they want to be the manager because of that credential. They may also feel the pay is too low, especially if they do have a degree.
That may be why there is turnover. The question I would ask, is how to counter that? What does it take to change the impression that Leasing Consultant jobs are a "dime a dozen," that anyone can do it and that it does not pay well with no room for advancement. Where are our marketing departments on this issue?
Why are there still people at the corporate level who tell managers to hire the person and train them as though the Consultant should behave as the proverbial used car salesperson? Leasing Consultants are the only people I know in sales who cannot just walk away from the customer once the sale is made and they should be highly valued.

For me, once I realized that I was dealing with what was likely to be the typical person's single biggest expense on their monthly budget and I would see them over and over again until they decided to move out; everything fell into place: I was able to close on applicants without feeling that I was setting them up to fail and I had earned the trust of my applicants as they transitioned from applicants to long term residents. This is a relationship based business unlike any other. A person may be a great car salesman, but would not make a great leasing agent/property manager because they rely on high volume and turnover. In property management, they have a very finite amount of 'inventory' and if the asset is properly managed, the turnover will be low. If the property maintains a very high occupancy level, car salespeople types get bored because they have very little to lease.

If property turnover is high, then there MUST be some analysis of what is causing the turnover rate; can it be attributed to property management causes such as rents too high, response to maintenance too low, general attitude of staff? If rents are too high and residents are leaving because they 'bit off more than they can chew' or are being asked to leave because they are not meeting their obligations; this is as much a management issue as it is a resident issue and a change of how things are done is needed, including a revised rent structure and potentially a revised resident selection plan.

Johnny,
Thanks so much for your input! I really appreciate it.

The first thing I always say is there always has to be an atmosphere created where the leasing agent wants to succeed and be a part of the team.

I find how the management treats their leasing agents has a lot to do with it. Leasing is a team effort, even though yes there is a person there who leases, but they should also have people there to assist in their success and that is team effort. Leasing agents that feel like everything is on their shoulder and it is either feast of famon will burn out quicker when there is not a good support team in place.

Personalities come into play here as well. First is the person hired even cut out to do the job? Not everyone is. Then if they have the personality to be a good leasing agent, are they made to be and feel as part of the team which they support and will support them as well?

Now, not saying it is the case in your situation, but we as managers have to also evaluate ourselves as to how we are dealing with our leasing agents and are we truly being all that we can be for them?

Thank you to everyone who responded, you've all given me something to think about!

Hello we specialize in helping apartments find the staff needed to operate. I'd agree that the leasing agent turnover is really crazy our group has done some studies on this topic here is a list of problems and here is a way you might look at resolving this costly problem. 1ST I want to tell you that most hiring managers are looking for the wrong person for the environment. Your manager should use a formula to figure out who's in the area 10% White American 30% Afro American 60% Spanish. Which group has the highest unemployment rate in your area. The reason for this most leasing agent like to relate to their clients and its really hard for a leasing agent who love's to work A and B properties to relate to people who appeal to C and D properties and the same in reverse with the prospects who are looking to lease.
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