Nomad Launches in Phoenix to Innovate the Long-Term Rental Market

by Matt Thelan

Nomad publicly launched the first-of-its-kind two-year Guaranteed Rent Offer in Denver in 2020, during the pandemic. While providing the certainty and ease of guaranteed rent to rental owners and helping guide residents through the depths of the pandemic, the company quickly gained hundreds of properties in less than 12 months. Capitalizing on the momentum, its leadership set their eyes on Phoenix for a few reasons: It is the birthplace of iBuyers like Opendoor, it has a tech-savvy community of customers and it has shown to be an innovative market in the rental space.

Before Nomad, Phoenix-area landlords had to choose between doing it all themselves or hiring a third party to handle everything. Nomad provides a distinct new way to manage their long-term rentals, which was born from what the team always wanted as landlords: incentive alignment, flexibility, modern technology and reasonable prices.

Working with Nomad is simple: Landlords visit the Nomad website, request a free offer and receive a guaranteed rent estimate within 24 hours. Once Nomad confirms key details about the property, a homeowner can sign a one- or two-year lease. Nomad lists, markets and leases the property to a vetted resident using powerful technology.

Nomad pays its landlords every month, whether it rents out the property or not. Additional characteristics that set Nomad apart from property management companies and DIY management:

Nomad maximizes rental income. We are incentivized to earn our landlords as much as possible and use our unique expertise to get them market rent and less vacancy, even in a hot market.

Nomad ensures great residents and property protection. Our resident network is well vetted. And, if a resident leaves behind damages over their security deposit, we’ll cover costs up to $10,000.

Nomad offers flexible plans. Landlords can take care of repairs and maintenance however they want or they can choose to work with a Nomad partner.

Nomad is unlocking economic opportunity for everyone in the long-term rental community: landlords, tenants, property managers and real estate agents alike — and Phoenix is the next frontier.

Matt is co-founder of Nomad.

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