Utilize the resources below, including the helpful guide to learn more about Guaranteed Rent!
Guaranteed Rent Payment Schedule
Generally, Nomad initiates our payments on the 5th of each month - regardless of whether your resident has paid! If the 5th falls on a weekend or holiday, your distribution will process the next business day.
Initial Payment Timing
If your lease starts on or after the 5th of the month, your initial payment will likely be processed during the first full month of your new lease. For example, if your lease starts on the 7th of July, you can expect to receive your initial Guaranteed Rent payment on the 5th of August.
Breaking Down Your 1st Payment
As part of your guaranteed rent distributions, we will deduct any charges due to Nomad for One Time Fees (e.g. Showings Fees, Move-In Incentives, etc) and Recurring Service fees (e.g. Upfront vs Monthly). Please review the below scenario that breaks out what you might expect to see in your initial payment depending on elections you made in the sign up process:
Bank Processing Times
Once Nomad processes your distribution, it is out of our control on when the funds will clear into your account due to processing times at your financial institution. Typically funds should settle within 3-5 business days for a first payment, and faster thereafter, but timing may vary with your financial institution.
Want to learn more? Check out this helpful guide Guaranteed Rent Guide to learn more about this innovative financial service!