What if the Tenant stops paying?

Nomad's Guaranteed Rent service ensures that you, as the property owner, receive your full rent payment on time every month, regardless of whether the tenant pays on time or not. Here’s how it generally works:

1. Service Activation: Once you opt into the Guaranteed Rent service and complete your order, the service begins according to the terms specified in your agreement.
2. Payment: Nomad pays you the full amount of the monthly rent specified in the lease between you and the tenant. This payment is made on time each month, ensuring financial stability for you.
3. Tenant Rent Collection: Nomad then takes on the responsibility of collecting the rent from the tenant. The rights to collect this rent are assigned to Nomad for the duration of the Guaranteed Rent service.
4. Non-Payment by Tenant: In cases where the tenant is delinquent, Nomad continues to pay you the guaranteed rent. Additionally, Nomad provides support and tools necessary for handling situations like evictions for non-payment, as outlined in the Terms of Service, Section 2.1 and 2.2.

This service is designed to minimize financial risk and provide peace of mind for property owners. For more detailed information, you can refer to the Guaranteed Rent sections in the Terms of Service.