Nomad

Nomad: rental management with guaranteed rent

Nomad is a property management software company that offers rental property owners a combination of digital tools and local management services, with the distinctive feature of including guaranteed rent and rent advance. The company presents itself as the only one in its sector that provides financial security through guaranteed rent. Founded in Denver, Colorado, in 2019, it operates in multiple states across the United States and has a team of more than 40 employees spread across at least nine states.

Two management options

Nomad structures its offering in two ways: digital management, where the owner retains control and uses the platform's tools to list, screen tenants, and coordinate maintenance, and local management, where a local partner handles the entire process. In both cases, rent is guaranteed and the option of rent advance is included.

• Digital management: the owner manages their rental through the Nomad app, with marketing tools, tenant screening, and repair coordination. The ongoing management fee starts at 4%.
• Local management: a local professional manager handles showings, move-ins, turns, and repairs with local vendors. The typical fee is around 10%, though it varies by partner.

Local partner availability and guaranteed rent offerings vary by market.

Guaranteed rent and rent advance

Guaranteed rent is the core of the service: Nomad ensures on-time monthly payment, regardless of the option chosen. Additionally, owners can access a rent advance of up to 11 months of future rent in the digital option and up to 6 months in the local option, with no credit checks or hidden fees. The service includes eviction support.

Marketing and tenant screening

The platform includes an AI-powered listing builder, professional photography, and syndication to more than 30 listing sites, including Zillow, with ongoing pricing and performance feedback. Showing options are flexible: DIY showings at no cost, resident-led showings for $900, or agent-led showings for $1,500.

Tenant screening is conducted through a professional 10-factor evaluation, including credit, income, and background, to determine eligibility for guaranteed rent. Leases are state-specific, lawyer-vetted, and signed digitally in the app.

Comprehensive management in a single app

The Nomad app centralizes earnings, maintenance request management, and repair tracking. It offers 24/7 resident support and remote repair coordination, with a preferred vendor network. Owners can access statements, documents, and maintenance management from a single portal. In the local option, the partner handles on-the-ground coordination.

For property managers

Nomad also partners with property management companies that want to offer their owners guaranteed rent and rent advance, without taking on the risk on their own balance sheets. Partners can access owners seeking local management in their market, allowing them to expand their portfolio without cold prospecting.

Track record and reach

Since its founding in Denver in 2019, Nomad has guaranteed more than $250 million in rent and has served more than 10,000 owners. The company has a 4.7-star rating on Trustpilot. Its parent company is Nomad Labs, Inc., and it operates through Nomad Brokerage LLC and Nomad Brokerage California Inc., licensed by the California Department of Real Estate (DRE # 02230490) and with a presence in Texas.