Vice President of Revenue Management

Job Description

Job Description

Vice President of Revenue Management

Direct Hire | Atlanta, GA

As the Vice President of Revenue Management, you will lead the revenue management strategy for Cortland, overseeing rental rate pricing, market analysis, and ancillary revenue opportunity. The role is pivotal in driving financial performance and maximizing net revenue (the relationship between pricing and occupancy) through strategic revenue models, occupancy management, and market position. This leader will collaborate across departments, including marketing, leasing, operations, and investments, to align revenue strategies with business goals.

Revenue Strategy & Optimization :

Develop and implement revenue tools, revenue strategies, and policies to maximize asset value and business plan performance.

Identify and implement strategies to drive revenue from other (ancillary) income sources related to serving residents.

Lead strategic initiatives to optimize rent levels, occupancy, and rental growth based on data and financial goals.

Use data analytics to forecast demand, evaluate market conditions, and adjust revenue plans.

Oversee the revenue budgeting process annually.

Market Research & Competitive Analysis :

Benchmark against competitors using publicly available information to identify growth opportunities and threats, adjusting pricing and revenue strategies accordingly.

Stay current on industry trends, economic factors, and consumer behavior to drive proactive revenue management decisions.

Technology & Data Utilization :

Lead the specifications, deployment and optimization of industry-leading revenue management systems, ensuring the effective use of tools to maximize net revenue.

Leverage advanced analytics, automation, and predictive modelling to support decision-making and identify revenue opportunities.

Guide the seamless integration between pricing systems and property management platforms.

Cross-functional Collaboration :

Work closely with operations and marketing teams to ensure alignment of pricing strategies with occupancy and customer acquisition goals.

Collaborate with the investments team and Head of Research to develop revenue and rent growth forecasts and reports for stakeholders.

Provide leadership and training to site teams on best practices in pricing and revenue management.

Leadership & Team Management :

Manage and mentor a team of revenue management professionals, fostering a culture of performance, innovation, proactivity and accountability.

Lead continuous improvement efforts within the department, ensuring the team is well-versed in current trends and technologies.

Establish key performance indicators (KPIs) for revenue management and report on progress toward meeting revenue goals. Proactively share in writing and through in-person meetings.

Financial Analysis & Reporting :

Analyze financial performance, track key metrics, and prepare forecasts.

Monitor and evaluate portfolio performance, identifying areas for improvement and making data-driven recommendations for change.

Prepare detailed reports on revenue trends, forecasts, and variance analyses for executive leadership.

Qualifications

Bachelor’s degree in finance, real estate, economics, or a related field (MBA or relevant advanced degree preferred)

Minimum of 10 years of experience in revenue management, pricing strategy, or related with some experience in the multifamily industry preferred.

Strong leadership and management experience, including overseeing revenue management teams.

Deep understanding of and expertise in developing revenue management strategies and working with revenue management systems.

Proven track record of implementing successful revenue management strategies that drive profitability and growth.

Excellent analytical, problem-solving, and decision-making skills.

Strong communication and interpersonal skills, with the ability to collaborate and influence at all levels of the organization.

Ability to manage multiple projects and priorities in a fast-paced environment.