Revenue Manager
About The Position
PEM is a growing, mid-sized multifamily property management company with communities across multiple U.S. states. We are committed to providing exceptional living experiences for our residents while building a supportive and high-performance culture for our employees. Guided by our core values—Respect, Urgency, Stewardship, Growth, and Integrity—we believe our people are the foundation of our success. As we expand, we’re looking for passionate and driven professionals to join our team. Position Overview Responsible for developing and maintaining tools, reports, and various data in collaboration with revenue management and on-site teams. A successful manager will gather and interpret pricing, financial, market, and operational data to evaluate revenue performance: benchmark data to market reports, budgets, or other established goals set by PEM. Prepare summaries, presentations, reports, strategies, and other interpretive reports to support business decisions. Responsible for all aspects of the RevenueIQ revenue management system including reviewing, recommending, and approving pricing. Some data analysis is required.
Requirements
- Ability to work collaboratively with various stakeholders across the organization and outside the organization.
- Excellent analytical, negotiation, and communication skills.
Responsibilities
- Evaluate the performance of properties and suggest corrective actions for underperforming properties.
- Monitor Revenue Management system settings and make adjustments to system parameters as necessary to meet ownership goals.
- Manage lease expiration curves at the property and unit type level.
- Determine amenity pricing adjustments.
- Develop, execute, analyze and measure pricing strategies by property and region.
- Establish pricing calls to determine pricing strategy and make adjustments to market and property conditions.
- Work with Community Management staff to ensure they use the revenue management tools appropriately.
- Assist Community Managers and Regional Managers in finding opportunities to increase ancillary income
- Building & maintaining strong vendor relationships.
- Developing & implementing vendor performance metrics.
- Managing Annual renewals for all related systems.
- Understand individual market conditions plus the pricing and conditions of comparable properties in order to form our pricing strategy.
- Oversight of comparative market surveys as completed by on-site Community Management staff.
- Manage ApartmentIQ and utilization across the company.
- Develop and review reports covering rate acceptance, hold period compliance, lease trade outs, concessions, and other reports as recommended or necessary.
- Audit processes to ensure that revenue management and related company policies are followed and enforcing all policies related to the revenue management process.
- Participate in the budget process to forecast property revenues (market rent, loss/gain to lease, concessions, etc.)
- Manage additional projects as needed.
- Daily review of each property’s RevenueIQ dashboard.
- Review Lease Compliance reports on at least a weekly basis and confirm any variances in Yardi. Communicate with the Community Manager on all variances and document any income losses on monthly compliance log.
- Check all errors in Yardi that affect RevenueIQ such as make ready dates, new lease/renewal lease information and communicate issues with the property.
- Ensure all competitor market data is entered for all properties on at least a weekly basis.
- Review quarterly results with RevenueIQ consultant and Regional Managers.
- Train new staff as well as provide ongoing training on both the mechanics of the RevenueIQ model.
- Coordinate and facilitate rollout of RevenueIQ product to new properties as necessary, including assisting with the Operation and Underwriting Analysis.
- Analyze dashboards and reports as needed to make recommendations for proactive and ongoing performance improvements.
- Perform other related duties as assigned.
- Driving continuous improvement through enhanced standardization of processes and practices by holding teams accountable.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
