Revenue Manager

Revenue Manager Opportunity

Horning Management Company is seeking an experienced Revenue Manager to lead rental revenue strategy and pricing execution across our multifamily portfolio of 26 communities and approximately 4,200 units throughout the District of Columbia, Maryland, and Virginia.

Our portfolio includes conventional, Low Income Housing Tax Credit (LIHTC), rent-controlled, Housing Choice Voucher, and HUD-assisted housing, creating a unique opportunity for a revenue professional who understands how to maximize financial performance within a diverse and complex multifamily portfolio.

Reporting to the Director of Asset Management, the Revenue Manager will own new lease and renewal pricing strategy, provide portfolio-wide market intelligence, administer regulated rent increase processes in partnership with Compliance, and serve as Horning's subject matter expert on revenue optimization.

This is not simply a reporting role. We're looking for someone who can turn data into decisions, challenge assumptions, identify revenue opportunities, and establish a disciplined, market-based approach to pricing across the portfolio.

What You'll Do

Own Revenue Strategy and Pricing

• Develop and execute portfolio-wide revenue strategies for new leases and renewals.
• Set new lease pricing for conventional communities and optimize LIHTC rents within applicable regulatory requirements and established pricing parameters.
• Monitor occupancy, leasing velocity, concessions, loss-to-lease, effective rent, and other performance indicators to identify opportunities and adjust strategy.
• Recommend concession strategies in response to market and property conditions.
• Maintain clear documentation supporting pricing methodology, market data, and decision rationale.
• Identify opportunities to reduce revenue leakage and improve overall portfolio performance.

Lead Renewal Strategy

• Develop renewal pricing strategies and annual increase guidelines across applicable communities.
• Review renewal exceptions submitted by Operations and make recommendations that balance resident retention with revenue objectives.
• Monitor renewal conversion and retention trends and partner with Property Management to improve performance.
• Identify properties or resident segments requiring targeted renewal strategies.

Maximize Revenue Within Regulated Housing Programs

• Administer annual rent increase processes for rent-controlled communities in partnership with Compliance and Property Management.
• Calculate allowable rent increases and maintain applicable rent increase records.
• Manage implementation of updated LIHTC maximum rents and rent schedules.
• Manage Housing Choice Voucher rent renewals with DCHA and other housing authorities.
• Monitor payment standards and rent reasonableness requirements to identify opportunities to maximize allowable rental income.
• Monitor relevant changes to rent regulation in DC and Maryland and evaluate their potential revenue impact.

Turn Market Intelligence Into Action

• Conduct ongoing competitor and submarket analysis, including rents, concessions, supply, absorption, and leasing trends.
• Translate market conditions and portfolio data into actionable pricing recommendations.
• Build and maintain portfolio revenue dashboards and recurring performance reporting.
• Develop forecasting models for occupancy, rent growth, and rental revenue.
• Partner with Asset Management and Accounting to develop annual budget revenue assumptions.
• Lead recurring revenue management discussions with Property Management and Asset Management leadership.

Partner Across the Organization

• Work closely with Property Management to execute pricing and renewal strategies at the property level.
• Partner with Compliance on regulated rent increases, voucher submissions, and affordable housing program requirements.
• Coordinate with Marketing to ensure property positioning, advertising, and concessions align with pricing strategy.
• Train Operations teams on pricing methodology, renewal execution, and revenue initiatives.
• Support Asset Management and Compliance with financial analysis related to HUD-assisted revenue initiatives.
• Support acquisition underwriting and due diligence through market rent analysis when needed.

Strengthen Revenue Controls and Systems

• Audit rental rates, concessions, fees, and lease information to identify revenue leakage and rent roll inaccuracies.
• Partner with Property Management and Accounting to resolve identified discrepancies.
• Evaluate revenue management, pricing, and market intelligence technology.
• Help establish scalable processes, tools, and governance as Horning continues to strengthen its revenue management capabilities.

What We're Looking For

The ideal candidate is an analytical and commercially minded multifamily professional who can combine market intelligence, financial analysis, regulated housing knowledge, and sound business judgment to make pricing decisions with significant financial impact.

Required qualifications include:

• Five or more years of progressive experience in multifamily revenue management, pricing, asset management analytics, or a closely related property management discipline.
• Demonstrated experience developing pricing or revenue recommendations across multiple communities.
• Working knowledge of at least one regulated housing program, such as LIHTC, Housing Choice Voucher, rent control, or HUD-assisted housing.
• Advanced Microsoft Excel skills, including financial modeling and analysis of large datasets.
• Working knowledge of Yardi or comparable property management software.
• Strong analytical and problem-solving skills with the ability to translate complex data into clear, defensible recommendations.
• Sound independent judgment and the ability to make and document decisions with significant financial implications.
• Strong organizational and time-management skills, particularly when managing recurring regulatory deadlines.
• Strong written and verbal communication skills, including the ability to present information and recommendations to senior leadership.
• Ability to influence and collaborate across teams without direct supervisory authority.

Preferred Experience

We're especially interested in candidates who bring one or more of the following:

• Bachelor's degree in Business, Finance, Real Estate, Economics, or a related field, or an equivalent combination of education and experience.
• Experience managing pricing across both conventional and affordable multifamily portfolios.
• LIHTC experience is strongly preferred.
• Knowledge of District of Columbia and Maryland rent regulation.
• Experience using Yardi Voyager.
• Experience with revenue management platforms such as LRO, YieldStar/AIRM, or comparable systems.
• Experience with multifamily market survey and competitive intelligence tools.
• Industry certifications such as HCCP, SHCM, COS, or CAM.

What Success Looks Like

Success in this role means creating a revenue strategy that is disciplined, responsive, transparent, and grounded in both data and market conditions.

You'll know you're succeeding when portfolio revenue and occupancy are meeting or exceeding expectations, allowable regulated rent increases are captured accurately and on time, loss-to-lease is improving, renewal conversion remains strong, and leadership has confidence in the methodology behind pricing decisions.

Most importantly, you'll help Horning make better, faster, and more informed revenue decisions across a diverse 4,200-unit portfolio.

Additional Details

This position requires limited local travel, generally less than 25%, to Horning communities throughout the District of Columbia, Maryland, and Virginia, as well as occasional corporate meetings and training.

Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions of the position.