Nomad Launches iRenting Model in Greater Phoenix Area
By Alison M Walsh -
Thursday Aug 12, 2021
Nomad, a new service that guarantees rent on a property for two years, launched in Phoenix this week. The burgeoning iRenting model gives landlords the certainty that rent will be paid, along with the advantages of scale and expertise of professionals, and the benefits of owning individual properties.
Nomad successfully launched in early 2020 in Denver to help individual landlords manage uncertainty in the market. After great success there, with hundreds of customers, millions in guaranteed rent payments along with millions in financing from top investors, Nomad is expanding to Phoenix, the birthplace of the iBuyer movement. Recent data shows strong demand for the Nomad service with a population of tech-savvy property owners looking to save time and earn more with less risk.
iRenting Comes to America’s Most Dynamic Housing Market
Like iBuyers Opendoor or Zillow to the for-sale homes market, Nomad is giving landlords a guaranteed rent offer on their property and taking on the heavy lift of tenant placement and management, so landlords can relax knowing they’ve got a guaranteed high-quality tenant and that payments will always be made. In the Phoenix market, where 90% of rental homes are owned by individuals and 50% are self-managed, Nomad fills the gap for these two massive segments of landlords: the DIY landlord who handles every aspect of their rental property ownership and the more hands-off landlord who leverages expensive property managers, by providing certainty over rental income and letting Nomad to do the legwork.
The Advantages of Size and Scale for ‘Mom and Pop’ Landlords and Tenants
Nomad brings individual landlords as close to "set it and forget it" as possible, for a very reasonable cost.
Nomad provides landlords with the level of management normally reserved for large companies with hundreds or thousands of homes. And for tenants who are used to impressive and effortless experiences from companies like Uber, AirBnB and others, they get to experience the same from an individual landlord working with Nomad.
Launched by PJ O’Neil and Matt Thelen (pictured in this article), former leaders from Opendoor and Twilio, Nomad has already provided thousands of offers to local landlords who look to guarantee their rent every month, maximize rental income, and reduce their own time spent overseeing their investment properties.
Nomad’s vision is to unlock economic opportunity for everyone in the long-term rental community. Nomad offers rental property owners certainty, value and ease that simply can’t be achieved elsewhere because Nomad’s incentives are uniquely aligned with those of our customers. To learn more, visit http://www.nomadlease.com