Leases save many individuals from being ripped off. Leases are contracts that can leave two parties bound together in a relationship for several years. As a result, lease analysts are often needed to ensure the lease is fully understood by all parties. Not only do these lease analysts break down the lease jargon, but they fulfill various other roles depending on the company they work for.
Leases are enforceable contracts that two individuals enter into for a period of time. The lease is intended to protect both members in a contract. For instance, a car lease protects the car dealer by ensuring that the car lessee will continue to pay for the car and protects the car owner from suddenly having the car taken away by the dealer. Lease analysts are experts in lease contracts. They study lease documents to make sure that they are accurate and in the best interest of the employer. Many write letters to both parties in the lease to inform them that the lease is beginning. They also contact the different parties in the lease whenever the lease is about to expire and needs to be renewed. Lease analysts handle the reconciliation of disagreements regarding the terms of the lease. According to THF Realty Inc., they are also responsible for writing various reports.
To become a lease analyst, the applicant must earn a bachelor’s degree in finance, accounting or business administration. The lease analyst must also often have experience with the software the analyst’s company uses, according to THF Realty Inc. Her primary duty is to analyze leases, so she must have excellent analytical skills. These analysts must accurately write reports and must pay careful attention to details. Written and verbal communication skills are needed to explain features of the leases to others.
Lease analysts spend most of their time in an office examining documents, writing reports and calling clients about the details of leases. Their work is sedentary, requiring them to sit for long periods. The Bureau of Labor Statistics reports that financial analysts such as lease analysts can work long hours. These workers often operate independently, according to ONet Online.
According to the Bureau of Labor Statistics, the need for financial analysts such as lease analysts is expected to grow 20 percent between 2008 and 2018. This growth is driven by the increasing complexity of global investments, which calls for more analysts to make sense of these investments.
The median annual earnings for lease analysts and other financial analysts in 2008 were $73,150, according to the Bureau of Labor Statistics. The highest 10 percent earned more than $141,070, while the lowest 10 percent earned less than $43,440.