Multifamily Revenue Manager

Job Description

MIG Real Estate LLC (“MIG”) is looking for a Multifamily Revenue Manager with strong experience monitoring multifamily property and portfolio performance and identifying opportunities to maximize revenue. This position will be responsible for the implementation and daily oversight of revenue management programs at MIG’s multifamily properties in the Western US and Texas. Position may be based in California, Arizona or Colorado. 

POSITION REQUIREMENTS:

• Drive the portfolio to achieve and exceed revenue, profitability, cash flow goals.
• Work with Asset Management and Finance teams to set and manage parameters in revenue management system (RMS) that drive pricing and software.
• Effectively analyze operational metrics, historical trends and relevant market data that impact property performance, and in collaboration with Asset Management and on-site teams, determine pricing strategies for both new lease and renewal lease transactions for a growing portfolio of 28 properties and 6,500 units. 
• Create, analyze and maintain a robust database and present supportable pricing strategies for new development projects.
• Ongoing review of new lease and renewal parameters, amenity values, lease terms, competitor data and other relevant market information to establish targeted pricing strategies.
• Conduct regular teleconference meetings with onsite teams and regional managers to set pricing at the property level and evaluate system compliance.  Facilitate ongoing education of on-site teams regarding pricing practices, strategy and RMS.
• Review and establish pricing to support ROI analysis for renovation scopes and budgets.
• Analyze all potential revenue streams (fees, charges, ancillary income) to unlock hidden value.
• Evaluate rental revenue performance against portfolio financial goals and work with Asset Management and Finance teams to address variances.
• Provide regular reporting regarding revenue trends and metrics that impact revenue management program and benchmark internal performance to competitive peer group by submarket.
• Conduct competitor property and submarket analysis, including “shopping” the competition.
• Identify and implement revenue management best practices.  Innovate new processes that help drive revenue performance. Assist with compiling training materials for revenue management tools and processes.
• Serve as liaison between departments to ensure consistent communication is delivered to all stake holders regarding process enhancement, pricing and RMS.
• Assist with revenue forecasting and budget process.
• Assist with ad hoc reporting requests as needed.
• Be proficient and knowledgeable on all software programs used in the leasing process at the properties and coach on site teams to effectively use the systems and tools.
• Conduct troubleshooting and problem resolution.

QUALIFICATIONS:

• Strong knowledge of revenue management concepts, tactics and processes.
• Strong knowledge of multifamily operations, including the impact of tactical based decisions.
• Solid track record of successful revenue management in relevant markets.
• Strong interpersonal skills with ability to influence others.
• Strong financial background required, including a thorough understanding of budgeting, accounting and financial reporting and analysis.
• Ability to think analytically and problem solve.
• Ability to bring new ideas to the table and formulate strategy, not merely take direction from above.
• Bachelor’s degree from four-year college or university, preferably in business, economics, real estate, or finance related majors.
• Prefer at least five years’ experience using Revenue Management pricing models (LRO, YieldStar, RENTmaximizer).
• Prefer experience using Business Intelligence platforms (RealPage BI, Orion, Power BI) and benchmarking platforms (Performance Analytics, Matrix).
• Prefer experience using market analytics tools (RealPage Market Analytics, Axiometrics, CoStar, CBRE).
• Enjoy working in a fast-paced, intellectually rigorous, and fluid environment.
• Ability to travel to properties and markets regularly, as needed.
• Critical thinking skills and ability to prioritize and multitask in a fast-paced environment.

CORPORATE CULTURE:

MIG has a dynamic culture that prides itself on its team of highly qualified managers and personnel who work well together yet think independently.  Our culture is intellectually rigorous and encourages personnel at all levels to be creative and challenge established methods to constantly improve our process and work more efficiently.  Our team is focused and driven to facilitate the best possible results for our investors.