Contributes to the success of the organization by assisting in all aspects of Revenue Management for our multifamily properties. Works closely with Asset Management and Property Management to analyze price positioning in local markets and comparison sets, develop and implement pricing and inventory strategies, and track our revenue success. Additionally, this position will require taking ownership of the day-to-day management of pricing software and rate selection.
- Revenue Management
- 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.
- Visit properties as necessary to determine initial amenity pricing adjustments.
- Develop, execute, analyze and measure pricing strategies by property and region.
- Establish weekly pricing calls with each property to determine pricing strategy and make adjustments to market and property conditions.
- Coordinate changing asset strategies with the Asset Management team and Owners.
- Work with Property Management staff to ensure they use and sell the revenue management tools appropriately.
- Assist Property Managers and Regional Property Managers in finding opportunities to increase ancillary income
- Market Research
- Understand individual market conditions plus the pricing and conditions of comparable properties in order to form our pricing strategy.
- Maintain Key’s propriety research databases through primary research including phone shopping and property tours
- Oversight of comparative market surveys as completed by on-site Property Management staff.
- Assist in underwriting and planning potential acquisition, development, and renovation opportunities.
- Administrative & Compliance
- Develop and review reports covering rate acceptance, hold period compliance, and concessions.
- 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.
Essential Knowledge, Skills, and Abilities:
- Demonstrated interest in real estate and/or pricing.
- Independent thinker with a willingness to take strong opinions.
- Extremely proficient with Microsoft Excel including understanding of Pivot Tables, VBA & Macros.
- Familiarity with database design, development and management.
- Expertise and understanding of forecasting and pricing for rents/leasing.
- Basic understanding of accounting principles.
- Strong creative, research, analytical, and quantitative skills to help generate revenue opportunities.
- Effective organizational and time management skills.
- Excellent verbal and written communication and listening skills.
- Ability to work independently with minimal supervision.
- Strong interpersonal skills with the ability to interact and relate effectively, productively, and positively with other Associates.
- Bachelor’s degree in analytically focused field such as finance, economics, real estate, or statistics.
- 2 or more years in an Analyst or Associate level role. However, recent graduates, with exceptional track records will be considered.
- Revenue management experience within multi-family, hotel, airline or related industry preferred
Medical, dental and vision insurance. Company paid life and disability insurance. Holidays, sick and paid time off.
If interested in the position, please fill out the form below and include the following: cover letter, resume, income requirements, prior/current references.