Thinking about a Revenue Management career in Multi-family Industry? Prepare here.

Multi-family revenue management and asset optimization software hold a strong presence in the future of apartment management and financial stabilization. There are many career opportunities in this area of property management for your consideration.  Take a look at what some companies outline as duties and qualifications for entering this field below. 

Senior Revenue Manager


The Senior Revenue Manager’s main priority is to assist in establishing and implementing pricing, revenue optimization, marketing, and leasing strategies based on market conditions and revenue targets for a portfolio of apartment communities. 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. This position also requires a strong knowledge of relational databases and querying SQL skills, MS Excel and Access, and an understanding of yield/revenue management software. 
Directive:
•    Optimizes revenue generation through full utilization of company systems and business processes for a portfolio of multi-family apartment communities. Assists in establishing and implementing pricing, revenue optimization, marketing, and leasing strategies based on market conditions and revenue targets.
•    Leads pricing and revenue management review calls for regional portfolios and provides analytical support to Operations Managers, Directors, and Vice Presidents.
•    Analyzes occupancy, exposure, expirations, leads, visits, net leases, and seasonal market trends.
•    Determines methods for maximizing revenue from existing resident renewal rent changes.
•    Monitors competitor pricing and strategies, maintains an understanding of local markets and demand conditions, and conducts ongoing rent and product analyses to ensure appropriate positioning relative to competition.
•    Assists with ongoing quality assurance activities, which include auditing configuration for parameters, rental rates, and amenities. 
•    Assists with implementing new revenue management programs at existing and new communities.
Qualifications
•    Bachelor’s degree in Business Administration, Hospitality Management, Finance, Accounting, or Operations Management, or a related field required.
•    MBA preferred or equivalent years of experience.
•    5 to 7+ years of experience in one or a combination of the following industries: Multi-family, Self-Storage, Hotel, Car Rental, or Airlines 
•    Minimum 2 years of experience in revenue management or pricing
•    Yield/Revenue management software experience required
•    Multi-family property management software experience required

 


Revenue Analyst


Duties and Responsibilities:
•    Supports the execution of the company’s revenue management application by assisting with daily/weekly rate changes, responding to team member questions and requests for help and communicating with supervisor specific activities, issues and concerns.
•    Analyzes rent recommendations, settings and decisions on a daily basis, communicates with the Revenue and on-site managers to assist in determining rental rates that result in maximum and optimum revenue. 
•    Reviews market analytics, market surveys and validates data. 
•    Assists in conducting 100 level training for site teams and provides ongoing help and support by communicating frequently about system functionality and configuration. 
•    Performs basic software tasks such as user setup, configuring and generating renewal offer reporting and generating performance reporting as requested and answering functional questions. 
•    Supports Help Desk with ticket resolution and identifying and directing tickets to the appropriate department. 
•    Conducts shops and site visits as assigned to support on-site team member engagement and performance with revenue management systems. 
Qualifications
•    Proficiency in project management skills to create project plans, track and monitor progress, meet production and delivery deadlines, and oversee project implementation across multiple platforms and geographic areas. 
•    Identify creative solutions to anticipated and unanticipated issues associated with systems. 
•    Must be able to organize, motivate and empower others to reach goals and objectives through the project management process. 
•    Demonstrated proficiency in property management software and other computer applications and software and understand the company’s needs. 
•    Knowledge and experience in apartment community operation applicable to understanding the processes, procedures, and daily workflow relative to the use of computer applications and revenue management systems. 


Director of Revenue Management  
 

Design sustainable policy and procedures for your pricing analyst in-house team so they have guidelines to use in their day-to-day activity, plus set some benchmarks to consistently maintain with their assigned clients.

•    Constantly update “best practice” policies for pricing managers in-house and orchestrate training webinars for clients’ pricing managers and their asset team. 

•    Listen to every problem presented to our pricing analyst team members and find ways to solve these issues proactively versus reactively and lessen the problems being reported into the future. 

•    Take active involvement in the integrations with property management software companies as well as integrations with 3rd party programs.

•    Maintain and monitor a certification program whereby junior analysts can be professionally certified. 

•    Run, verify, analyze, process, and deliver pricing-related analysis

•    Assist the on-site team with the execution of upcoming renewal leasing 
•    Implement effective pricing strategies 
•    Assist the accounting department with reconciliation issues
•    Consult with property management partners on revenue optimization
•    Train effective use of all areas of revenue management software
•    Provide strategic analysis of pricing, inventory, demand.
•    Proactively suggest the best practices for leasing agents, members, or related groups to improve overall operational process.  
•    Maintain expertise in building both quantitative and analytical approaches
•    Share enthusiasm for resolving customer or client inquiries 
•    Exemplify strong interpersonal communication and problem-solving skills.
•    Must be a Self-starter/self-motivated, capable of staying on track and pursuing solutions without supervision.
•    Ability to work under pressure and meet deadlines while handling several projects simultaneously.
•    Monitor and analyze weekly/monthly/yearly forecasts and convey relevant information in plain language to clients from a broad spectrum of educational backgrounds
•    Perform ad hoc analysis to give guidance to leasing teams, management teams and pricing forecasters. 
•    Advanced Microsoft Excel skills as well as solid knowledge of relational database management systems, including Microsoft Access & SQL Server.


Pricing & Revenue Manager

Essential Duties and Responsibilities: Optimize the revenue management platform, advancing procedures, and initiatives to achieve revenue maximization. 

Optimize pricing and revenue management while utilizing company applications, Business Intelligence (BI), and processes. Assist in establishing and implementing pricing, revenue optimization, marketing, and leasing strategies based on market conditions and rent growth for new leases and renewals.
•    Lead pricing calls with Property Managers, Divisional and Regional Managers, and Senior Vice Presidents to evaluate asset performance, identify potential risk, and provide solutions.
•    Responsible for establishing and maintaining relationships with key stakeholders (executive leadership, operations, marketing, portfolio asset management, asset management and IT)
•    Understand market trends and have viable solutions to match the firm’s goals and evade potential challenges as needed.
•    Collaborate with cross-functional teams and all levels of management to formulate pricing/revenue strategies.
•    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.
•    Audit platform settings and key operational points to ensure alignment with property and market fundamentals.
•    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.
•    Assist with ongoing quality assurance activities for general configuration and property set-up in property and revenue management systems. Including auditing parameters and amenities.
•    Assist in the development and/or modify training materials for revenue management tools. Develop high-level overview and conduct presentations for all levels of Management.
•    Generate reporting and tools to help provide transparency and drive continuous process improvement.
•    Create and conduct scheduled and ad hoc data inquiries/analysis.
•    Evaluate performance of properties and suggest corrective actions for under-performing properties.
•    Contribute and provide forecasting revenue insight on the budgeting process.
•    Other pricing and revenue management-related activities as directed by your supervisor

Qualifications, Skills and Experience:

Bachelor's degree from four-year college or university; or 3 - 5+ years related experience and/or training; or equivalent combination of education and experience. Bachelor’s Degree preferred in Economics, Real Estate, or Finance.

2+ years of Yield/Revenue Management software experience required with understanding of property management software platforms.

Advanced in SQL, Data Mining, PowerPoint, Excel and Word

Strong analytical and problem-solving abilities and ability to understand complete revenue models.

Excellent project/program management skills.

Solid financial knowledge and the ability to understand economic theories and factors.

Outstanding communication skills, written and verbal – ability to articulate concisely and persuasively in all levels of business.

Flexibility to travel. Drug testing and background checks are an employment requirement. 


Revenue Analyst


JOB SUMMARY:
The Revenue Analyst is a critical thinker responsible for developing and maintaining tools, reports, and various data in collaboration with Revenue Management and Corporate personnel. A successful Revenue Analyst 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 the client. Prepare summaries, presentations, reports, strategies, and other interpretive reports to support business decisions. Specialized functional background such as finance, accounting, operations management, or other technical skill (systems, process design, etc.) is preferred to understand and support department requirements.

ESSENTIAL JOB FUNCTIONS:  
•    Analyze asset performance and aggregate the results up to a portfolio, region, or sub-market.
•    Collect and interpret reports from system resources as available on data for markets, operations, and financials 
•    Participate in the design, modification, implementation, and/or maintenance of reporting. Redesign when appropriate for maximum efficiency. 
•    Interpret and understand economic, demographic and supply demand trends for the U.S. and how they impact real estate fundamentals.
•    Support Revenue Managers on daily pricing, compliance, and other monthly reporting requirements. 
•    Support onboarding of properties during the implementation of revenue management software. Assist with setting up manual pricing workbooks for the transition period. 
•    Support new business development and acquisitions efforts by providing information and data for request for proposals (RFP’s) and new business presentations. 
•    Responsible for giving consideration to reporting usability and ensuring accuracy, consistency and quality of all revenue management reporting. 
o    Achieve high productivity through reliable and punctual attendance and report any tardiness, attendance, and disciplinary issues to immediate supervisor.
o    Other duties and projects as assigned
 

JOB SKILLS/KNOWLEDGE:
To perform the role successfully, an individual must be able to perform all essential functions satisfactorily. The requirements define the knowledge, skill, and/or ability necessary to perform the essential functions. 
•    Must have advanced excel experience and intermediate proficiency in MS Office. 
•    Must be detail oriented and able to focus with frequent interruptions. 
•    Strong analytical skills; demonstrated experience delivering complex analysis and reports. 
•    Ability to work in independent situations and in team situations. 
•    Strong organizational, communication (written and verbal), interpersonal and multi-tasking skills 
•    Multi-Family industry experience referred but not necessary.

EDUCATION /EXPERIENCE:
•    Computer literate, including Microsoft Office Suite and/or property management software. 
•    Bachelor’s Degree in Business Administration or other specialized functional area (management, finance, real estate, and accounting) preferred.) 
•    Real estate organization/management operations experience preferred. 


Vice President Revenue Management 
 

Essential Duties and Responsibilities: Manage and lead a team in optimizing our revenue management platform, advancing our procedures, and creating initiatives to achieve revenue maximization.
•    Lead a team of 2-3 professionals with a “servant leader’s” passion for developing their people.
•    Be the subject matter expert of revenue management, the tools used, and industry advancements.
•    Own all PRM processes, modify them as necessary and be responsible for relationships with key stakeholders (executive leadership, operations, portfolio asset management, asset management and IT). Understand market trends and have viable solutions to match firm’s goals and evade potential challenges as needed.
•    Guide the development and/or modify training materials for revenue management tools. Also develop high-level overview and conduct presentations for all levels of Management.
•    Generate reporting and tools to help provide transparency and drive continuous process improvement.
•    Create and conduct scheduled and ad hoc data inquiries/analysis.
•    Evaluate performance of properties and suggest corrective actions for under-performing properties.
•    Conduct annual “Health Checkup” of properties.
•    Define and convey revenue management strategies and process changes.
•    Collaborate with Portfolio Asset Management and IT to benchmark results to peers and third-party sources to understand how we stack up against the market.
•    Contribute and provide forecasting revenue insight on the budgeting process.
•    Maintain integration and functionality between property management software and revenue management platform.
•    Monitor implementation and removal process to ensure smooth transactions.
Qualifications, Skills and Experience:
•    Bachelor's degree (B. A.) from four-year college or university; or 5 -7+ years related experience and/or training; or equivalent combination of education and experience. Bachelor’s Degree – preferably in Economics, Real Estate, or Finance.
•    Thorough knowledge of revenue management platforms.
•    Understanding of operating platforms.
•    Advanced in Excel and Word.
•    Strong analytical abilities and ability to understand complete revenue models.
•    Solid financial knowledge and the ability to understand economic theories and factors.
•    Strong communication skills.
•    SQL and data mining experience preferred.
•    Flexibility to travel.


Asset Manager – Commercial/Residential

Job Description
Summary:
Reporting to the Director, Asset Management, this position will be responsible as the “owner’s Representative” for the oversight of an assigned portfolio of acquired and developed commercial and residential properties. The Asset Manager will collaborate with other internal departments and investors to successfully execute the property level business plans. 
Responsibilities:
•    Manage assigned portfolio consisting of medium to high intensity assets
•    Focus on maximizing investor returns benchmarked to pro forma
•    Direct leasing activities: negotiate and execute retail or office leases and renewals
•    Oversee dispositions
•    Prepare and review quarterly portfolio review, investor and ad hoc reports
•    Review property valuations
•    Coordinate with development on new projects and redevelopment opportunities
•    Review and provide input for annual budgets and ten-year capital plans, monthly forecasts and quarterly projects
•    Coordinate with property management on marketing strategy and adherence to property level business plan
•    Create and execute business plans
•    Monitor and benchmark performance of property management team
•    Conduct interviews of high-profile property level positions
•    Review monthly property performance relative to budget and pro forma
•    Support acquisitions with due diligence needs
•    Oversee property lifecycle functions inception through exit: new project integration, redevelopment, value creation, capital improvements, etc. 
•    Coordinate with attorneys on general legal issues, contracts, litigation, etc. 
•    Coordinate property support functions: accounting, insurance, reserves, real estate taxes, etc. 
•    Collaborate with finance: refinance, lender information, loan compliance and debt strategy 
•    Perform site inspections and reviews of physical condition
•    Support property management software services reporting and assist with special projects

Requirements

•    BA/BS degree in accounting, economics, finance, or related field. MBA or graduate degree in finance or real estate a plus
•    Three years plus experience in asset management, or real estate finance with direct exposure to office, multifamily and mixed-use product types. Exposure to hotels and other product types a plus. 
•    Exposure to development and construction methods
•    An ability to communicate efficiently and concisely on salient points
•    Knowledge of MS Word, Excel and Microsoft Outlook required, other revenue management software platforms a plus. 

 


If you’d like to receive more learning materials or even a mentor from the multifamily industry to talk with about Revenue Manager positions, then please email us at sales@spherexx.com.