Revenue Manager, Asset Management| Hybrid, DMV Area

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $72 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands - all to make home and community places of pride, power and belonging.

Join us at enterprisecommunity.org

Working at Enterprise

At Enterprise, you'll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You'll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you're valued and supported in your growth journey.

Enterprise offers career opportunities in our offices across the country with anexceptional benefits package.

Job Description Summary

Job Description

• Maintain and examine information and contracts related to rental income sources for apartment communities within the portfolio.
• Maintain and examine information on all federal, state, local and agency housing programs that are used at the various apartment communities within the portfolio to include key contact information.
• Maintain information and identify key start and expiration dates for all rental income contracts, number of apartments involved with each program and specific program information for users of the database so they can understand the program requirements and features.
• Prepare and maintain rental housing program abstracts for each apartment community which summarizes the programs at each community in concert with colleagues within Asset Management. This information will then be distributed to property management staff within Enterprise Residential. Rental income programs / features and requirements will need to be prominent within each development abstract.
• Maintain the Section 8 contract initiations, transfers, and renewal processes by making the most advantageous selections to optimize rental income for each community. Ensure the subsidy contracts are managed effectively to optimize revenue and that renewals are done timely and in the most advantageous way. Duplicate this process for Project Based Voucher contracts.
• Maintain a rent increase strategy for every apartment type at every apartment community at least annually and update the strategies when market conditions change. Monitor apartment communities (part of a daily routine) to ensure the increase amounts have been implemented as directed in terms of amount and timing. Deviations to those instructions will be reported to the Regional Manager.
• Understand the market rents in the local markets in which we operate. The Revenue Manager will be expected to review market reports from brokers and data providers, such as Co-Star and REIS, to understand current rents and new construction activity.
• Collaborate with the Real Estate Development, Acquisitions, Asset Management, and Enterprise Residential/Third Party Management staff to assist with the optimum rental income contract terms, income limits and rents for each new acquisition/preservation apartment development.
• Collaborate with the Real Estate Development, Asset Management and Property Management departments to determine the optimal Section 8 and rent increase strategies in connection with recapitalization/renovations of existing properties in the portfolio.
• Provide direction to Enterprise Residential/Third Party Management as to how rents are to be increased and during what month(s) with each annual property budget cycle, i.e., direction will be given for each apartment type at every apartment community.
• Provide expert guidance to Enterprise Residential/Third Party Management staff on rental housing programs, particularly around blended housing program developments, and advice on special situations related to rental income.
• Examine any apartment development which is experiencing financial difficulties and provide expert advice as to possible rental income potential remedies.
• When income limits are announced, monitor information contained within Yardi to ensure this information is put into effect on time and administered appropriately.
• Collaborate with Enterprise Residential/Third Party Management staff to monitor Special Claims and Vacancy Claims and ensure those claims are processed timely, correctly and appropriately.
• Collaborate with the Compliance Department to ensure that every apartment community has a well-reasoned utility allowance completed and put into place, and that they are kept current to optimize rental income. The Revenue Manager will have full and final accountability for updating utility allowances per regulatory requirements and will also provide guidance to the Real Estate Development department on utility allowances to include in its tax credit and other financing applications.
• Provide auditors and regulatory agencies with certifications related to rental income as required.
• Prepare a monthly revenue management report to the Senior Revenue Manager which will cover activities by the Revenue Manager and describe any area needing additional focus.
• Become an expert on all local housing authority / HUD rental voucher programs and procedures including unit inspections - advising Enterprise Residential/Third Party Management staff on program specifics. This will include HOME funding and programs such as the HUD 236 program, which has some legacy assistance in place within the portfolio.
• Be well-versed in Yardi applications and be able to complete granular examinations of rental income / ledger activity and use that information to inform appropriate staff for successful outcomes. The Revenue Manager will be or soon become an expert in Yardi utilization.
• Monitor resident certifications and recertification activity and review all Section 8 TRACS submissions to identify instances where certification deficiencies impair the full collection of HUD Section 8 subsidy. Prepare monthly reports for the Senior Revenue Manager.
• Examine new HUD programs/changes and other housing regulations, programs, and legislation activity / new program announcements and advise Leadership as to how Enterprise might utilize the programs to enhance income for the apartment communities.
• Work on special projects identified by the Senior Revenue Manager, including establishing and updating policies and procedures associated with Revenue Management functions and addressing untapped areas of potential revenue maximization.
• Work within the programmatic confines of the affordable housing programs and the Fair Housing Act.
• Communicate effectively, appropriately, and courteously with residents, associates, management, and guests to ensure that all areas of concern are addressed promptly and professionally.
• Ensure strict compliance with the Fair Housing Act, HUD / Low Income Housing Tax Credit, HOME, and /or other program requirements.

• A minimum of 3 years of experience in both conventional and affordable property management in the A, B and C asset class, at a Regional Manager level or above required.
• Minimum of 5 years of compliance or property management experience required.
• Budget and forecast development and tracking expertise for Core, Core Plus and Value Add Assets.
• Thorough understanding of industry accepted marketing tools and related affordable program requirements.
• Solid understanding of KPI's and how they impact revenue strategies. Ability to understand, analyze and report market conditions as well as local/regional trends impacting multifamily revenue opportunities.
• An advanced understanding of affordable housing programs is required
• Experience developing and submitting OCAF and other rental adjustment documentation to appropriate regulatory agencies.
• Experience developing revenue strategy plans including determining appropriate and competitive market rent and maximum allowable rent per appropriate regulatory requirements.
• Ability to read, in English, at a level sufficient to understand complex policies and procedures, sophisticated business correspondence and/or documentation.
• Experience reading and interpreting Use and Regulatory agreements for affordable housing communities with various subsidy layering.
• Experience in overseeing affordable multi-family housing communities or other rental housing in an asset management or operations role is needed. This experience ideally would include having earned training credentials such as the NCHM COS (Certified Occupancy Manager) & TCS (Tax Credit Manager) Certification or equivalent certifications from nationally recognized compliance training programs and/or the ability and commitment to obtain certifications within the first two years of employment. Enterprise Community Development will pay for the credential training.
• Participation in industry, HUD, state housing agency and other relevant to the position duty training is expected to further deepen the Revenue Managers' expertise to benefit Enterprise Community Development. All industry training credentials, and education representations will be authenticated by Human Resources as a condition of employment.
• Exceptional financial acumen to include a demonstrated ability to understand sophisticated financial statements.
• Ability to read complex regulations and housing program information and take that information to create informative memos / policies and recommendations for Leadership / Operations Staff to act upon.
• Ability to lead, direct, and motivate others to innovate and excel.
• Ability to apply reason, logic, and advanced problem-solving skills to resolve complex and/or sensitive issues.
• Ability to work in a fast-paced environment demonstrating an ability to manage multiple priorities.
• Ability to interact/communicate professionally with a diverse group of associates, residents, and external agencies.
• Demonstrate a positive attitude, intellectual curiosity and enthusiasm.
• A working knowledge of Microsoft office applications including Outlook, Word and Excel. Basic Excel skills should be mastered with a firm understanding of intermediate Excel concepts such as database functions and logic functions.
• An advanced knowledge of Yardi applications.

Total Rewards at Enterprise:

• You will be working with a group of talented professionals who are motivated by serving the community and addressing the need for affordable housing. Enterprise offers a comprehensive total rewards package for you and your family.
• The base salary range for this role is between $113,732 to $123,715 per year depending on level of skills and experience.
• The salary range for this position is represented by the low and high end of the range for the amount to be paid for the position. Salaries paid at Enterprise will vary based on factors that may include skills, education, location, experience, and performance. The salary range is just a part of the total rewards package provided to employees at Enterprise, and other rewards may include annual performance bonuses and generous paid leave programs.
• At Enterprise, our benefits form a major component of our total rewards package. Benefits include dental, health, and vision care plans, as well as family-building benefits, such as fertility, adoption, surrogacy support, and gender-affirming care. Enterprise allows flexible work arrangements to promote a better work-life balance. We offer health advocacy, EAP, and mental health benefits. We round out our total rewards package by offering financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions. Finally, you will have learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team in our effort and commitment to serve others.

• The physical demands and work environment characteristics described here are representative of those that must be met by an associate to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
• While performing the duties of the job, the Revenue Manager will often be required to read, write, use hands to finger, handle, or feel objects or controls, reach with hands, and arms, talk and hear. Specific vision abilities required for this position include close vision, distance vision, peripheral vision, depth perception, and the ability to adjust focus. The Revenue Manager may make apartment community visits on occasion and must also have the ability to access all areas of the community without the assistance of an elevator.
• While performing certain duties of this job that involve the acquisition of new developments, the Revenue Manager must be available to work for temporary or extended periods at other locations, including property locations within or near transitional neighborhoods.
• The Revenue Manager must be able to work in a fast-paced environment with demonstrated ability to manage and prioritize multiple competing tasks and demands and to seek supervisory assistance as appropriate. The Revenue Manager is expected to adhere to all company policies, including the code of conduct, conflict of interest and work to highest level of industry professional standards.

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