How to Become an Apartment Leasing Agent in New York

Being a leasing agent can be very lucrative in New York. Statewide, around 46% of households rent rather than own their homes. In New York City, the number of households who rent jumps to 69%.

Luckily, becoming an apartment leasing agent in New York may be easier than you think. Most positions don’t require a college degree. Instead, you just need to get a New York real estate license, which can be earned in as little as six weeks, and find a sponsoring broker to hire you. Keep reading to learn more about the job title and what you have to do to become a New York leasing agent.

How to Become an Apartment Leasing Agent in New York

Here’s a step-by-step look at becoming a leasing agent in NY.

Step 1: Meet the Minimum Requirements for Licensure

To qualify for the real estate license you’ll need to lease apartments, the New York Department of State (DOS) requires that you:

• Be at least 18 years old

• Have a valid state driver’s license or ID card

Unlike most states, New York does not require a high school diploma or equivalent to qualify for a real estate license.

Step 2: Complete a 77-Hour Real Estate Course

You can use any state-approved course provider, but it’s important to choose the right provider for you. Most of today’s real estate students are looking for a course that:

• Can be completed online, at their own pace.

• Works well on smartphones and tablets.

• Offers engaging materials, using text, video, images, and interactive quizzes to make the content more memorable.

• Provides test-prep materials to get you ready for the next step: the real estate exam.

Step 3: Pass the Real Estate Exam

To show that you know your stuff, you have to pass the real estate exam. To pass, you’ll need a score of 70% or higher on this 75-question test.

Step 4: Find a Job with a Sponsoring Broker

Every real estate licensee in NY must have a licensed broker to oversee their work. You can be hired either as an employee of a brokerage or as an independent contractor. In either case, the real estate brokerage you sign a contract with needs to have a broker license.

If you’ve already taken your real estate course and passed your exam, you have a major competitive advantage over other applicants! So you can search job posting websites, check for openings on LinkedIn, or contact the companies you’d most like to work with to apply for leasing agent positions.

Step 5: Activate Your License and Get to Work

With the support of your sponsoring broker, you’re ready to complete your real estate license application to activate your license. Then you can start your new career as an apartment leasing agent in New York!

What Does an Apartment Leasing Agent in New York Do?

Apartment leasing agents serve the rental market by helping renters find apartments and helping landlords find qualified tenants. This role includes tasks like:

• Listing apartments for rent on behalf of property owners

• Showing apartments to renters

• Screening prospective tenants

• Drafting leases

• Coordinating move-ins

Keep track of your time spent leasing apartments. That experience can be used to qualify you for a New York broker’s license down the road.

Leasing Jobs That Require a Real Estate License in New York

Property Managers/Property Management Companies

Property managers and property management companies that collect rent or place tenants in vacant spaces on behalf of a landlord must have a New York broker license.

Property Management Leasing Agent

If you work for a property management company as a leasing agent, you’ll need to get a New York real estate agent license and the company needs to be listed as your broker.

Apartment Information Vendors and Apartment Sharing Agents

To be an apartment information vendor or apartment-sharing agent, you need a license from the Secretary of State. The Secretary’s office will decide which application forms are necessary.

Vendors must also have an interest-bearing account with a minimum of $5,000 in a national or state-chartered banking institution in New York, plus $2,500 for each additional licensed branch location. Apartment-sharing agents must have an interest-bearing account with a minimum of $2,500 in a national or state-chartered banking institution in New York, plus $1,250 per additional location.

NY Apartment Leasing Agent FAQs

How Much Does It Cost to Get the License to Become a Leasing Agent in NY?

A New York real estate license costs around $325 but can vary depending on the real estate school you choose and how many times you need to take the exam. This amount covers your real estate class, exam fee (for one attempt), and licensing fee.

Can You Be a Leasing Agent in NY Without a Real Estate License?

Not exactly, but you can be leasing-agent-adjacent without a license. For example, leasing assistants can offer administrative support to leasing agents without a license. Also, there is a special NY license for professionals who simply arrange meetings between potential tenants and landlords, property managers, or leasing agents in exchange for a fee. These can be good stepping-stone jobs into a career as a leasing agent.

How Much Do Leasing Agents in NY Make?

The income potential varies widely by local market. Statewide, New York leasing agents average around $46,000 per year. Leasing agents in New York City average around $71,000 per year.

Start Becoming a Leasing Agent in New York Today

Are you ready to become a New York apartment leasing agent? Take a major step toward that goal by enrolling in an online real estate course today. Just a few months from now, you could be enjoying your new career!