A commercial leasing agent may list classified ads to find tenants.
Typically, a property owner contracts with a leasing agent to rent commercial space to tenants on behalf of the owner. Typically, the agent and landlord sign a listing agreement, in which the landlord agrees to pay the agent if the agent finds a qualified tenant for the property within a certain period of time. Most agents receive a commission that is paid once the property owner and tenant sign a lease. Some also charge an hourly rate for their services. Agents can rent a variety of different types of commercial properties, including shopping or retail malls, office buildings, restaurant space, and industrial warehouses.
A commercial leasing agent may be responsible for leasing office buildings.
Finding suitable and solvent tenants is one of the main tasks performed by a commercial leasing agent. To attract potential renters, an agent may engage in marketing and advertising tactics, such as posting classified ads detailing available properties and open homes. If a tenant is interested in viewing a property, the agent will usually take them on a tour of the property. The agent should be knowledgeable about the property and be prepared to answer any questions the tenant may have about the space.
A commercial leasing agent ensures that the paperwork required to rent a commercial space is completed on behalf of the owner.
When finding new tenants, a commercial leasing agent essentially acts as a salesperson. Once a prospective tenant expresses interest in renting the property, the broker is responsible for making sure all paperwork is completed correctly. For example, the agent will usually obtain a credit check and any necessary financial statements from the person or company renting the space. In addition, the agent typically acts as the landlord’s representative when negotiating the terms of the lease with the tenant.
A commercial leasing agent essentially serves as a salesperson who fills rentable spaces with paying tenants.
A commercial leasing agent is different from a commercial real estate agent. A real estate agent assists someone in the purchase or sale of commercial property. On the other hand, a commercial leasing agent simply finds a tenant for the property and does not participate in the sale of the property.
In some cases, a leasing agent may be hired to perform ongoing property management services for the owner. In this role, the agent is usually responsible for the upkeep of the property. This involves analyzing the current physical condition of the property and determining the need for repairs to bring it up to a sound market standard. The agent may also be responsible for management tasks such as ensuring the property is financially sound and renting space at competitive rates.