According to the Associated General Contractors of America, the construction industry creates more than $2.1 trillion worth of structures annually throughout the country—highlighting the demand for qualified real estate leasing and construction managers.
If you are looking to advance your career in leasing and construction management and stay competitive in the growing job market, now is the right time to consider a law-adjacent degree program like an online Master of Legal Studies.
Understanding the Role of a Real Estate Leasing and Construction Manager
While real estate leasing managers and construction managers hold two distinctly different positions, both require professionals to have well-developed leadership and management skills as well as refined legal acumen.
A real estate leasing manager is responsible for securing tenants and ensuring that all properties within the portfolio have lease agreements in place, as this is the best way to generate revenue from the properties. A construction manager, on the other hand, is responsible for overseeing and coordinating a construction project from start to finish.
Real estate leasing and construction managers often work in cooperation with one another to ensure the scope of the project aligns with the needs of prospective tenants.
Key Responsibilities
There is some overlap when it comes to the key responsibilities of leasing managers and construction managers. According to Indeed, some of the primary responsibilities of leasing managers include:
- Marketing available properties in an attempt to secure the best possible tenants.
- Showing the property to prospective tenants and providing them with detailed information about the unit.
- Drafting lease agreements for tenants.
- Overseeing the maintenance of leased properties.
- Providing personalized customer service for all tenants.
A construction manager primarily works on the job site during the construction process. According to the United States Bureau of Labor Statistics (BLS), some key responsibilities of construction managers include:
- Preparing estimates for prospective jobs.
- Developing and managing the budget for the construction project.
- Establishing a timeline for the project.
- Coordinating with subcontractors and other members of the construction team in order to meet all deadlines.
- Supervising and overseeing work on the project each day.
Knowledge and Skills Required
Whether you are involved in the leasing aspect of the construction industry or specialize in construction management, the knowledge and skills required for these positions are quite similar. Both leasing and construction managers have to be well-versed in the features and amenities of the building, be able to collaborate with others, and have an in-depth understanding of legal studies in order to successfully navigate the complexities of the construction industry.
5 Benefits of Pursuing an MLS for Real Estate Leasing and Construction Managers
Real estate leasing and construction managers both require an advanced understanding of the legal landscape to perform their job responsibilities each day and advance in their careers. By pursuing an online Master of Legal Studies, you can acquire the knowledge and skills needed to grow within your field—and apply the skills you learn in class today at the job site tomorrow.
Enhancing Legal Knowledge
Numerous laws and regulations govern the construction industry and property management industry, making it imperative that leasing and construction managers have a solid base of legal knowledge. There are online Master of Legal Studies curriculums that allows you to build upon this base of knowledge and gain an advanced understanding of the legal landscape and how it impacts the industry.
Understanding Contracts and Agreements
Leasing contracts and construction agreements are legally binding documents, and both leasing and construction managers are responsible for drafting and enforcing these agreements. With an online M.L.S. degree, you can explore the different types of contracts and agreements within the construction and property management industries and learn how to create the best possible agreements for your clients and tenants.
Deeper Understanding of Property Laws
Property laws govern the way buildings are constructed and used, making it critical for leasing and construction managers to be familiar with these laws. With an online M.L.S., you will be able to deepen your understanding of all types of property laws, including:
- Housing laws and regulations
- Affordable housing laws
- Real estate investment and finance law
- Land use planning and zoning regulations
Enhanced Negotiation and Dispute Resolution Skills
No matter if you are working with tenants on a regular basis or trying to secure agreements with subcontractors, you need to be able to effectively negotiate contracts and resolve issues that arise throughout any contractual agreement. By investing in an online M.L.S. degree program, you can improve your legal acumen and develop enhanced negotiation skills you can soon begin using in your role as a real estate leasing and construction manager.
Ethical Considerations in Real Estate
All real estate leasing and construction managers must be familiar with the ethical guidelines that anchor the real estate and construction industry. By being aware of these ethical considerations, you can improve your decision-making skills as well as your workplace performance, giving you a competitive advantage in this dynamic industry.
How a Master of Legal Studies Prepares Leasing and Construction Managers in the Workplace
Although many other graduate degree programs provide students with an opportunity to pursue positions in different fields or industries, an online Master of Legal Studies degree allows you to advance your construction management career immediately. By developing a deeper understanding of real estate law, compliance, and regulation, you can begin applying your newfound knowledge and skills on the job site.
Implementing Legal Knowledge in Daily Operations
On any given day, you or your employees may encounter complex issues on the job site that can threaten daily operations. When you earn an online M.L.S., you can use your expert legal knowledge and skills to effectively navigate these issues and implement a resolution. Ultimately, this degree program can help you streamline operations and keep projects moving forward smoothly without compromising any existing deadlines or budget restrictions.
Navigating Complex Real Estate Transactions
Real estate transactions are notoriously complex, particularly when it comes to commercial real estate and luxury property management. As a real estate leasing manager, you will find -an online M.L.S. degree program equips you with the legal skills and knowledge needed to effortlessly navigate these transactions and successfully secure the best possible tenants for your buildings.
How a Master of Legal Studies Helps You Advance in Your Current Leasing and Construction Management Career
Whether you began your career in construction on the job site and worked your way up, or you became a real estate leasing manager through hard work and professional development, an online Master of Legal Studies can help you advance your career in leasing and construction management. These degree programs with a real estate track, allow you to complete the coursework that is relevant to your field. As opposed to other degree programs that require you to graduate before you can begin enjoying the benefits, an M.L.S. degree allows you to use the skills you learn immediately.
Expanded Job Opportunities
An online Master of Legal Studies curriculum is uniquely designed to advance your construction management career. However, it can also expand the job opportunities available to you.
Some roles for which you may be qualified in real estate, leasing and construction management include:
- Real estate specialist
- Leasing manager
- Construction manager
- Property manager
- Appraiser
- Land developer
- Urban planner
Regardless of the position you currently have or the job you are hoping to pursue, you will find that an online M.L.S. degree is a worthwhile investment that can help advance your career in leasing and construction management.
Advance Your Construction Management Career with an M.L.S. from the University of Miami School of Law
At the University of Miami School of Law, we offer an online Master of Legal Studies degree with a Real Estate and Construction Law and Regulation track that allows you to develop the legal acumen necessary to advance your construction management career. Featuring a future-forward, skills-based curriculum, this online M.L.S. helps you gain skills today that you can use at the job site tomorrow.
Request more information about our online M.L.S. degree.
Sources
https://admissions.law.miami.edu/academics/mls/
https://admissions.law.miami.edu/academics/mls/curriculum/#real-estate
https://www.zippia.com/leasing-manager-jobs/
https://www.indeed.com/career-advice/finding-a-job/what-does-leasing-manager-do
https://www.bls.gov/ooh/management/construction-managers.htm#tab-2
https://www.cmaanet.org/about-us/what-construction-management
https://www.agc.org/learn/construction-data
https://www.nar.realtor/careers-in-real-estate
