Revenue Manager

The Company

Founded in 1925, Rudin is a multigenerational, family-owned company that develops, owns, and manages a portfolio of sustainable, diversified, best in class, real estate assets and investments that create value for the communities where they exist.

Led by the third and fourth generations of the Rudin family, Rudin controls one of the largest privately owned real estate portfolios in New York City overseeing daily operations of 32 properties in New York City, including 14 commercial office buildings totaling 10.1 million square feet and 17 multifamily properties containing 4.7 million square feet. The company maintains a long-term approach to developing, managing, and maintaining timeless developments within the city of New York and is committed to reinvesting in and enhancing its properties.

Rudin prides itself on a high level of customer service to its tenants and residents, a corporate culture respectful and supportive of its employees, a commitment to Diversity, Equity, Inclusion and Access, and its sterling reputation as a corporate citizen within the City. The Rudin family has a long tradition of service and philanthropy in New York City.

For more information on Rudin and its portfolio, visit www.rudin.com.

The Position

Rudin seeks to hire a highly motivated, dynamic individual to join the company as a Rent Regulation and Revenue Manager for its residential portfolio of assets. This associate will serve in a dual capacity as an administrative manager for the rent stabilized/rent controlled inventory, inclusive of all regulatory filings, audits and record keeping, and an analyst for the market rate portfolio of apartments. The revenue management responsibilities include routine competitive market analysis, regular reporting, and pricing recommendations. In all capacities, the associate will work closely with onsite property teams and senior management and will report directly to the Head of Leasing. The candidate will also be expected to assist in other areas of the firm as necessary.

Responsibilities:

• Maintain, audit, and prepare records pertaining to Rent Stabilization and Rent Control. Ensure compliance with New York State regulations, DHCR Regulations and Housing Laws.
• Ownership over the annual rent registration and rent regulated lease renewal process inclusive of document preparation, tenant correspondence, mailing and filing.
• Analyze, maintain, and report IAI, MBR, and MCI filings according to local regulations.
• Review and underwrite upgrades to both market and rent regulated apartments determining ROI.
• Develop and maintain complex financial models for market rate pricing.
• Analyze market data and formulate pricing matrixes that pave the way for both occupancy and revenue growth.
• Set, recommend, and audit market rents to support property teams to grow NOI.
• Conduct weekly pricing adjusting market rents strategically to align with demand, market conditions and availability.
• Drive renewal strategy via weekly review with the team using standard and custom benchmarking tools.
• Monitor market activity on a daily/weekly basis and maintain a database of sales comparable(s) by utilizing platform tools keeping appropriate business partners abreast of market changes.
• Conduct competitive rental surveys by calling and visiting properties to support pricing models in order to determine market value.
• Occupancy and Velocity: Identify and implement plans/goals to sustain/boost occupancy by proposing favorable pricing solutions, concessions, specials, and other programs that satisfy the supply and demand ratio for each submarket.
• Boost Revenue and Profitability: Monitor, maintain and drive rental and other income for each asset/community within the portfolio.
• Work with property level teams to develop short- and long-term strategies designed to maximize financial value and meet occupancy goals.
• Track and update status of business objectives for each property/portfolio and compile reporting monthly, quarterly, and annually on performance.
• Conduct due diligence / underwriting on potential new investments.
• Analyze and review potential new tenant leasing activity as well asset reinvestment programs.
• Work with residential, commercial, operations and finance / accounting teams to support budgeting, forecasting and financial planning.
• Analyze existing portfolio to report operating and financial insights to senior management.

Qualifications:

• 5-7 years of residential management experience in New York City.
• Extensive experience with NYC Rent Stabilization, Rent Control and all local laws/ordinances.
• Preference given to previous employment at a real estate brokerage firm, real estate asset management company or a real estate investment or commercial bank.
• Display strong analytical skills, including the ability to gather information, conduct analyses and present findings.
• Deep financial modeling experience and comfort dealing with highly complex situations.
• Extensive use of all Excel, Word, PowerPoint, Yardi, ARGUS and comfort in utilizing new technologies.
• Excellent verbal and written communication, organizational, presentation and analytical skills.
• Ability to work collaboratively within a team environment and understand needs of multiple constituencies.
• Effectively prioritize and handle multiple tasks under pressure.

Total Compensation:

• The base salary range* for this position is $100,000 - $150,000 per year
• This position is eligible for a discretionary bonus
• We also offer excellent benefits and perks to our employees, including: full company-paid health and dental, 401k, pension, housing and parking discounts, and wellness programs

All offered benefits are subject to the terms/conditions of the benefits plans.

*Salary may vary based on work experience, market conditions, and qualifications/training.

Rudin is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic as outlined by federal, state, or local laws.

This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, leave of absence, compensation, benefits, and training. Rudin makes hiring decisions based solely on qualifications, merit, and business needs at the time.