Revenue Manager

Horning Management LLC Corporation•Washington, DC

4d•$95,000 - $120,000•Hybrid

About The Position

Horning Management Company is seeking an experienced Revenue Manager to lead rental revenue strategy and pricing execution across our multifamily portfolio of 26 communities and approximately 4,200 units throughout the District of Columbia, Maryland, and Virginia. Our portfolio includes conventional, Low Income Housing Tax Credit (LIHTC), rent-controlled, Housing Choice Voucher, and HUD-assisted housing, creating a unique opportunity for a revenue professional who understands how to maximize financial performance within a diverse and complex multifamily portfolio. Reporting to the Director of Asset Management, the Revenue Manager will own new lease and renewal pricing strategy, provide portfolio-wide market intelligence, administer regulated rent increase processes in partnership with Compliance, and serve as Horning's subject matter expert on revenue optimization. This is not simply a reporting role. We're looking for someone who can turn data into decisions, challenge assumptions, identify revenue opportunities, and establish a disciplined, market-based approach to pricing across the portfolio.

Requirements

Five or more years of progressive experience in multifamily revenue management, pricing, asset management analytics, or a closely related property management discipline.
Demonstrated experience developing pricing or revenue recommendations across multiple communities.
Working knowledge of at least one regulated housing program, such as LIHTC, Housing Choice Voucher, rent control, or HUD-assisted housing.
Advanced Microsoft Excel skills, including financial modeling and analysis of large datasets.
Working knowledge of Yardi or comparable property management software.
Strong analytical and problem-solving skills with the ability to translate complex data into clear, defensible recommendations.
Sound independent judgment and the ability to make and document decisions with significant financial implications.
Strong organizational and time-management skills, particularly when managing recurring regulatory deadlines.
Strong written and verbal communication skills, including the ability to present information and recommendations to senior leadership.
Ability to influence and collaborate across teams without direct supervisory authority.

Nice To Haves

Bachelor's degree in Business, Finance, Real Estate, Economics, or a related field, or an equivalent combination of education and experience.
Experience managing pricing across both conventional and affordable multifamily portfolios.
LIHTC experience is strongly preferred.
Knowledge of District of Columbia and Maryland rent regulation.
Experience using Yardi Voyager.
Experience with revenue management platforms such as LRO, YieldStar/AIRM, or comparable systems.
Experience with multifamily market survey and competitive intelligence tools.
Industry certifications such as HCCP, SHCM, COS, or CAM.

Responsibilities

Develop and execute portfolio-wide revenue strategies for new leases and renewals.
Set new lease pricing for conventional communities and optimize LIHTC rents within applicable regulatory requirements and established pricing parameters.
Monitor occupancy, leasing velocity, concessions, loss-to-lease, effective rent, and other performance indicators to identify opportunities and adjust strategy.
Recommend concession strategies in response to market and property conditions.
Maintain clear documentation supporting pricing methodology, market data, and decision rationale.
Identify opportunities to reduce revenue leakage and improve overall portfolio performance.
Develop renewal pricing strategies and annual increase guidelines across applicable communities.
Review renewal exceptions submitted by Operations and make recommendations that balance resident retention with revenue objectives.
Monitor renewal conversion and retention trends and partner with Property Management to improve performance.
Identify properties or resident segments requiring targeted renewal strategies.
Administer annual rent increase processes for rent-controlled communities in partnership with Compliance and Property Management.
Calculate allowable rent increases and maintain applicable rent increase records.
Manage implementation of updated LIHTC maximum rents and rent schedules.
Manage Housing Choice Voucher rent renewals with DCHA and other housing authorities.
Monitor payment standards and rent reasonableness requirements to identify opportunities to maximize allowable rental income.
Monitor relevant changes to rent regulation in DC and Maryland and evaluate their potential revenue impact.
Conduct ongoing competitor and submarket analysis, including rents, concessions, supply, absorption, and leasing trends.
Translate market conditions and portfolio data into actionable pricing recommendations.
Build and maintain portfolio revenue dashboards and recurring performance reporting.
Develop forecasting models for occupancy, rent growth, and rental revenue.
Partner with Asset Management and Accounting to develop annual budget revenue assumptions.
Lead recurring revenue management discussions with Property Management and Asset Management leadership.
Work closely with Property Management to execute pricing and renewal strategies at the property level.
Partner with Compliance on regulated rent increases, voucher submissions, and affordable housing program requirements.
Coordinate with Marketing to ensure property positioning, advertising, and concessions align with pricing strategy.
Train Operations teams on pricing methodology, renewal execution, and revenue initiatives.
Support Asset Management and Compliance with financial analysis related to HUD-assisted revenue initiatives.
Support acquisition underwriting and due diligence through market rent analysis when needed.
Audit rental rates, concessions, fees, and lease information to identify revenue leakage and rent roll inaccuracies.
Partner with Property Management and Accounting to resolve identified discrepancies.
Evaluate revenue management, pricing, and market intelligence technology.
Help establish scalable processes, tools, and governance as Horning continues to strengthen its revenue management capabilities.