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Apartment Leasing Manager Salary

by Rick Suttle

Larger apartment complexes usually hire property and leasing managers to run their business operations. Leasing apartment managers are primarily responsible for increasing occupancy rates in apartment complexes and overseeing all leasing transactions. They also hire and supervise leasing agents, place advertisements for their apartment complexes and track revenue and expenses. If you want to work as an apartment leasing manager, you need at least a high school diploma. Your salary may vary according to where you live and your experience level.

Salary and Qualifications

The average annual salary for an apartment leasing manager was $30,000 as of 2013, according to the job site Indeed. To qualify for this job, you need at least a high school diploma and one or more years of leasing experience. Some employers may prefer hiring those with bachelor's degrees in business administration, finance, accounting or public administration. Other essential qualifications include organizational, communication, negotiating and customer service skills.

Regional Salaries

In 2013, average salaries for apartment leasing managers varied the most within the West region, according to Indeed, where they earned the lowest salaries of $19,000 in Hawaii and the highest of $32,000 in California. Those in the Northeast made $26,000 to $36,000 in Maine and New York, respectively. If you worked in Louisiana or Washington, D.C., you'd make $26,000 or $36,000 per year, respectively, which represented the lowest and highest earnings in the South. In the Midwest, you'd earn the least in Nebraska or South Dakota or the most in Illinois -- $33,000 or $22,000, respectively.

Contributing Factors

An apartment leasing manager with extensive experience -- 10 or more years --may warrant a higher salary than one with one or two years of experience. Employers, including apartment complexes, often establish salary ranges for management jobs so they can compensate new hires according to their education and experience. Apartment leasing managers earn more in New York and Washington, D.C., because it's more expensive to live in that state and district. For example, if you earned $30,000 as an apartment leasing manager in Shreveport, La., you'd have to make $70,509 in New York City to enjoy the same living standard, according to CNN Money's cost of living calculator. In Washington, D.C., you'd need to earn $45,103 to maintain your living standard, or approximately 50 percent more.

Job Outlook

The U.S. Bureau of Labor doesn't forecast jobs for apartment leasing managers. It projects only a 6-percent increase in jobs for property, real estate and community association managers through 2020 -- a below-average growth rate. Increases in the number of apartment residents in the United States should boost jobs for property managers and the leasing managers who work for them. Apartment owners or companies recognize the benefits of hiring property and leasing managers to increase resident occupancy rates and profits. You can improve your chances of getting a job as an apartment leasing manager by earning a bachelor's degree in business or finance and acquiring one or two years of experience in the apartment industry as a leasing agent.

Photo Credits

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