Director of Revenue - Multifamily

Director of Revenue Benefits Benefits available on the 1st of the month, following only 30 days of employment: Medical, Dental, and Vision Insurance Flexible Spending Accounts for Medical Expenses and Dependent Care Short-Term Disability Income Insurance - at no cost! Long-Term Disability Income Insurance - at no cost! Life Insurance - at no cost! *Additional buy-up option available 401K plan with employer match Added benefits: Tuition assistance program - up to $4,000/annually $1,000 employee referral rewards 15 PTO days per year 1 volunteer time off day per year Paid holidays and 2 floating holidays 20% rent discount at any Berger community - eligible on your first day of employment Type: Full Time Minimum Experience: A minimum of 5 years of experience in revenue management, with a strong preference for experience in the property management or hospitality sectors. Entrata experience a plus. Role & Responsibilities As the Director of Revenue your responsibilities will include: Strategic Revenue Plan Oversight: Responsible for overseeing the implementation and management of the Company's strategic revenue plan, ensuring alignment with business objectives and market dynamics across all properties including new acquisitions and those under renovation. Support and Training: In conjunction with the property's onsite and regional management teams, provide crucial support and approval with daily new lease and renewal pricing. Trains employees in applying critical thinking to pricing new leases and renewals, enhancing their skills and understanding of revenue management principles. Performance Monitoring: Monitors leasing and revenue performance closely to ensure compliance with the company's policies and the property's strategic performance goals. Implements corrective actions and adjustments as necessary to align with overarching revenue objectives. Market Analysis & Reporting: Review and approve market surveys. Generate reports in the company property management system to monitor leasing performance. Assist with ad hoc reporting requests. Policy Execution & Employee Satisfaction: Ensure the successful execution of all company operations policies and procedures. Develop and execute comprehensive revenue management strategies to maximize occupancy and profitability across the portfolio. Manage and optimize the use of revenue management software, ensuring it is fully leveraged for properties suited to automated pricing. Collaborate across departments to ensure revenue management practices are integrated with marketing, sales, and operational strategies. Communication & Compliance: Conduct regular teleconference meetings with Community Managers and Regional Property Managers to set property-level pricing and evaluate compliance. Provide feedback to management on non-compliance and operational issues affecting pricing. Analyze market trends and internal data to inform decision-making, pricing adjustments, and strategic direction. Provide regular reports and insights on revenue performance, market dynamics, and strategic recommendations to senior management. Renewal Pricing and Market Rent Adjustments: For sites not utilizing revenue management software, review renewal pricing monthly and provide recommendations. Routinely monitors market rents for sites not on revenue management software and provide recommendations for adjustments as needed. Recommend leasing or renewal incentives as needed. Ancillary Income: Identify and propose new ancillary income sources, assessing the potential impact of each on occupancy, customer experience, and revenue. Implement strategies to increase existing ancillary income streams where applicable. Market and Rental Analysis for New Acquisitions: Analyze rent data, current rent rolls, market comparisons, and investment strategies for potential new acquisitions to provide recommendations on optimal rent levels and pricing strategies. Stay updated on industry trends, technological advancements, and best practices in revenue and property management. Ensuring the successful execution of all company operations, policies, and procedures. Delivering the highest level of employee satisfaction through responsive, consistent, positive, and professional interactions. Knowledge & Skills: Expertise in both automated revenue management software and manual pricing strategies. Strong analytical skills and proficiency in data analysis and interpretation. Excellent leadership, communication, and training skills. Proficiency in MS Office and property management systems. Strong knowledge of multi-family operations Ability to manage multiple assignments Must be a self-starter with a high level of motivation Professional approach, proven good judgment, and creative problem solving Excellent interpersonal skills with a positive attitude

Created: 2024-11-16