General Responsibilities:
- Advise and support the implementation of improvements to optimize revenue across all Avesta communities.
- Review revenue management related dashboards within the Asset Management Team business intelligence suite and help create new ones in order to better serve the Asset Management and Operations Teams.
- Work with the Asset Management Team to assess holistic community performance, both on a relative (compared to other communities in our portfolio and other communities in the respective submarkets) and absolute basis.
- Provide ongoing analysis and reporting to Director of Asset Management on various community performance metrics.
- Regularly work with Operations Team (both at the community and regional level) to identify pertinent local information and trends and improve various measurables in order to optimize community performance.
- Participate in Asset Management presentations and represent Avesta to fee clients, as needed.
- Work with Operations teammates to continually assess which competitor communities represent the most accurate comparison set.
- Stay up on industry trends and report on innovative ways to boost ancillary income (i.e. technology packages, Airbnb, etc.).
Revenue Management Side
Rental Revenue
- Manage rental revenue, including deviations from community specific plans, across all Avesta communities. Train and advise individual community and regional managers on how to best use our selected system.
- Oversee Avesta’s revenue management application (Yardi Voyager RENTmaximizer) for the entire portfolio of communities (currently just under 40 communities). This includes maintaining, evaluating, and implementing changes to both pricing structure and apartment home amenities.
- Assess and advise what pricing system (i.e. Rainmaker LRO, Realpage YieldStar, Yardi RENTmaximizer, or another system) best fits Avesta’s needs and implement the change to a new system, if needed.
- Monitor that proper system settings are being utilized, while identifying and reporting any problems, and supporting the on-site management teams in the daily application of the revenue management system to ensure optimum rental rates and maximum revenues.
- Review revenue reports and complete qualitative analysis to report on the performance of the revenue management system at the community and portfolio level, as well as how this performance compares to third party benchmarks (markets, submarkets, specific comp set, etc.).
- Act as company liaison and communicate regularly with revenue management software vendor (Yardi Voyager) to identify issues, modifications and enhancements.
Utility Income
- Ensure each community’s utility income is optimal and lead the implementation from a flat fee to Ratio Utility Billing System (“RUBS”).
- Analyze, recommend, and implement improvements to our RUBS methodology.
- Work with Avesta’s third party billing vendor and advise on recommendations to improve the process and system.
Contract Revenue
- Work to maximize each community’s income from contracts by making recommendations when we should enter into new ones or terminate existing ones.
- Work with Procurement department to analyze and negotiate master contracts for multiple communities, such as laundry or vending machine contracts.
Other Income
- Work with each community to maximize other income opportunities.
- Research and recommend market best practices to communities.
Utility Management Side
- Work with our internal technology development team to build world-class data utility management tools, which will ultimately monitor and promote operational improvements.
- Source and analyze third party vendors to implement profitable improvements, such as water conservation programs, utility rebates, or other programs.
- Negotiate (or identify a third party to negotiate) with local municipalities to improve utility rates.
- Monitor and analyze (either directly or by overseeing Avesta’s consultants) utility billings, revenues, and expenditures (such as water leaks or non-optimal air conditioning usage) and work with community teams to identify and fix issues.
- Monitor, evaluate efficiency and effectiveness of, and recommend appropriate best practices to improve operations while minimizing the operational cost
Qualifications:
- Minimum of 2-3 years experience as a Utility Manager, Pricing Analyst, or Revenue Management Analyst in Property Management or for a Revenue Management Company (i.e., Yardi, Realpage or LRO)
- Must have experience with either Rainmaker LRO, Realpage YieldStar, or Yardi RentMax (RENTmaximizer).
- Hard working self-starter who seeks out responsibility and is receptive to constructive criticism.
- A lifelong desire for constant learning, personal development and growth.
- Strong interpersonal and communication skills, both oral and written.
- Desire to work in a high growth, entrepreneurial, fast-changing environment.
- Proficient in Microsoft Excel
Job Location:
Required education:
Required experience:
- Revenue Cycle Management: 3 years
- Property Management: 2 years
- Accounting: 3 years
- Yardi RentMax, Real Page Yieldstar, or LRO Rainmaker: 2 years
- Utility Management: 2 years
All your information will be kept confidential according to EEO guidelines.
