The Revenue Manager is a key role within the organization responsible for monitoring property and portfolio performance as well as building solid relationships with Regional Portfolio Managers and Community Managers to successfully coach and execute on rental pricing strategies. Collaborating with Property Operations, the Revenue Manager will provide support with daily pricing of new lease and renewal transactions and supply analysis related to market trends, revenue strategies and rate tactics that capitalize on opportunities to maximize revenue through a proper balance of occupancy and price. A successful candidate will be results oriented with exceptional communication and analytical skills. Though Apartment industry experience is not required, direct (or similar) experience is a plus.
Responsibilities include, but are not limited to:
- Effectively analyze operational metrics, historical trends and relevant market data that impact property performance and, in collaboration with Property Operations, determine pricing strategies by identifying and communicating pricing trends and opportunities for both new lease and renewal transactions.
- Study and understand the macro and micro markets for the properties being managed; periodically visit the properties and tour the markets with the RPM to gain clarity on ever changing conditions
- Work closely with RPMs and Community Managers to develop solid relationships based on support of the “client,” coaching, guidance, mutual respect and understanding
- Develop and create reports, and support the administration of the revenue management system
- Conduct regular teleconference meetings with Community Managers and the respective RPMs to both review and set pricing at the property level as well as evaluate system compliance.
- Collaborate with the Division Manager/Operations Vice President and Director of Revenue Management to execute on strategies, as well as setting and managing parameters in the revenue management system (RMS) that drive pricing and software performance.
- Partner with the Director of Revenue Management on system and process improvements, reporting standardization, and review of metrics reflecting revenue performance and opportunities for improvement. Communicate observations regarding non-price related issues and escalate concerns over operational issues and pricing compliance matters toappropriate management personnel.
- Assist in the ongoing education of property staff regarding pricing practices and the revenue Management software.
- Analyze regular reporting regarding revenue trends and metrics related to the revenue management program. Assist with ad hoc reporting requests as needed.
- Position requires ability to work standard hours and business days, 52 weeks of the year. Individuals must possess the ability to work the necessary days/hours to complete the essential functions of the position. Must also attend training as required. Work schedule subject to change.
- Other tasks as assigned. #am