Revenue Manager

Job Summary:

The Revenue Manager assists in establishing and implementing pricing, revenue optimization, marketing, and leasing strategies based on market conditions and revenue targets for a portfolio of apartment communities through the use of revenue management software. This is accomplished by establishing a strong understanding of local markets, monitoring competitive conditions, and analyzing apartment supply and demand. In addition, this position is responsible for liaising with operational leadership and providing necessary data analysis on current market conditions as well as revenue performance.

To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily.  Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions.

ESSENTIAL DUTIES:

• Accumulate, format, and analyze data within the pricing system and market research data to assess trends and identify to potential risks.
• Monitor the revenue management software and ensure settings are appropriately optimizing revenue and effectuating the strategy desired by the asset management team. (or something like this)
• Review daily rate recommendations and communicate with on-site, regional and asset managers related to pricing questions.
• Build and maintain positive relationships with client and team members at all levels.
• Train online and in person on revenue management concepts and pricing system (operations management and on-site personnel).
• Analyze occupancy, exposure, expirations, traffic, leasing, and seasonal market trends for assigned portfolio(s).
• Monitor competitor pricing and strategies, maintain an understanding of local markets.
• Be a subject matter expert on our revenue management platform, other revenue tools, and reports.
• Support and strengthen our pricing processes and methodologies by training and providing ongoing support and communicating frequently about system functionality and configuration.
• Assist with implementing new revenue management programs and processes at existing and new properties.
• Analyze asset performance and aggregate the results up to a portfolio or sub-market.
• Monthly performance measurement analysis and reporting to senior management regarding financial results, revenue management adoption behavior, leasing velocity and market conditions.
• Interpret and understand economic, demographic and supply demand trends for the U.S. and how they impact real estate fundamentals.
• Additional duties, projects or presentations as assigned.
• Some travel required

Education & EXPERIENCE: 

• Bachelor’s degree required; equivalent experience within industry may be acceptable.
• Real estate industry or previous analysis experience is highly preferred.
• 3+ years Multifamily Operations experience
• 3+ years experience using Revenue Management pricing models and software; RealPage AI Revenue Management system experience strongly preferred 
• Advanced skills in MS Excel, MS PowerPoint and MS Word.

Knowledge & Skills: 

• Strong Accounting/Financial and multifamily operational knowledge
• Strong analytical skills and abilities; demonstrated experience delivering complex analysis and reports.
• Ability to train, motivate and guide others.
• Ability to work within strict deadlines and adapt to shifting priorities.
• Works well in a collaborative environment and takes ownership of assigned tasks.
• Strong attention to detail.
• Strong written and verbal communication skills.