What are the responsibilities and job description for the Revenue Manager position at Kairoi Residential?
Summary
The Revenue Manager is responsible for developing and executing pricing, revenue optimization, and lease management strategies across a portfolio of multifamily communities. This role partners closely with Operations, Asset Management and Clients, and Marketing to maximize revenue, optimize occupancy, improve lease expiration management, and achieve ownership objectives.
The ideal candidate combines strong analytical skills with a deep understanding of multifamily operations, market dynamics, and pricing technology. This individual will leverage revenue management systems, market surveys and intelligence, and performance analytics to drive Net Operating Income (NOI) growth while maintaining a strong competitive market positioning
Essential Job Duties And Responsibilities
Revenue Optimization & Pricing Strategy
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is often exposed to outside weather conditions. The noise level in the work environment is usually moderate.
This job description is intended to provide a general overview of the Revenue Manager role. The specific duties and responsibilities may vary.
The Revenue Manager is responsible for developing and executing pricing, revenue optimization, and lease management strategies across a portfolio of multifamily communities. This role partners closely with Operations, Asset Management and Clients, and Marketing to maximize revenue, optimize occupancy, improve lease expiration management, and achieve ownership objectives.
The ideal candidate combines strong analytical skills with a deep understanding of multifamily operations, market dynamics, and pricing technology. This individual will leverage revenue management systems, market surveys and intelligence, and performance analytics to drive Net Operating Income (NOI) growth while maintaining a strong competitive market positioning
Essential Job Duties And Responsibilities
Revenue Optimization & Pricing Strategy
- Develop and implement revenue management strategies grounded in data, market intelligence, and operating performance for a portfolio of multifamily communities.
- Establish pricing recommendations for new leases, renewals, transfers, and lease terms.
- Manage daily pricing and renewals within revenue management platforms and ensure recommendations align with ownership objectives.
- Monitor and adjust concessions, specials, and promotional programs to achieve occupancy and revenue goals.
- Optimize lease expiration schedules to minimize vacancy exposure and turnover concentration.
- Identify opportunities to maximize ancillary revenue streams, including parking, storage, pet fees, utilities, and other income sources.
- Analyze asset performance metrics including occupancy, leased percentage, exposure, renewals, traffic, conversion ratios, rent growth, delinquency trends, and revenue attainment to inform potential strategy adjustments and optimize operating performance.
- Forecast occupancy, rental revenue, and market performance to support budgeting and business planning.
- Identify risks and opportunities impacting revenue growth.
- Present pricing strategies, revenue performance, market conditions, and recommendations to clients and Operations partners.
- Assist with the preparation of forecasts and re-forecasts as requested.
- Conduct market research and competitive pricing analysis; collaborate with regional leaders to determine the competitive positioning of properties.
- Monitor local supply and demand conditions, new developments, economic trends, and competitive positioning.
- Maintain accurate competitive sets within revenue management systems.
- Lead weekly pricing and revenue review calls with Regional Managers, Community Directors, and Clients/Asset Managers.
- Partner with Operations teams to ensure pricing strategies are effectively implemented.
- Collaborate with Marketing to align leasing initiatives and demand generation strategies with pricing objectives.
- Provide training and support to onsite teams regarding pricing strategy, lease management, and revenue optimization tools.
- Communicate revenue strategy and performance updates to executive leadership and ownership groups.
- Address pricing concerns and requests promptly and effectively.
- Lead the implementation, configuration, optimization, and ongoing administration of revenue management platforms for new and existing assets
- Configure lease parameters, pricing rules, amenity pricing, and asset-specific strategies within revenue management systems.
- Act as the subject matter expert on revenue management systems, providing guidance and support to leadership and field teams.
- Monitor system recommendations, overrides, and adoption rates to ensure consistent execution of pricing strategies across the portfolio.
- Manage and maintain revenue management software platforms and related reporting tools.
- Ensure revenue management best practices are consistently applied to new lease and renewal pricing.
- Audit pricing overrides, lease compliance, amenity pricing, and system settings.
- Develop dashboards and reports that provide actionable insights to stakeholders.
- Ensure data integrity across property management and revenue management systems.
- Bachelor’s degree in Finance, Real Estate, Business Administration or a related field required.
- 5 years of relevant experience in pricing/revenue management; preferably within the multifamily housing industry.
- Third-party management company experience strongly preferred.
- Thorough understanding of RealPage platforms including AIRM and Yieldstar; experience with additional revenue management software such as Yardi Revenue IQ, REBA, Rentana, LRO, or similar platforms
- Proficiency in analyzing operating/income statements to evaluate performance metrics.
- Strong analytical skills, including the ability to manage multiple projects and maintain strong attention to detail.
- Strong communication skills, written and verbal with the ability to articulate concisely and persuasively in all levels of business.
- Self-motivated and able to work effectively with limited direction.
- Ability to adapt to changing demands and operate with a high degree of flexibility.
- Strong project management skills, including effective time management, organization, and the ability to meet deadlines.
- Advanced proficiency in Excel required; experience with SQL, Power BI, Tableau, or other business intelligence and reporting tools preferred .
- Must have a valid driver’s license with no major infractions in the last 12 months.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is often exposed to outside weather conditions. The noise level in the work environment is usually moderate.
This job description is intended to provide a general overview of the Revenue Manager role. The specific duties and responsibilities may vary.