When you sign up with Nomad we immediately spend resources to help you find a great tenant as quickly as possible. Specifically,
- It costs us money to syndicate your property to the 30+ websites, power our pricing algorithm, screen and vet renters for guaranteed rent, etc.
- It also costs us time and money to have our expert teammates communicate with you and renters about your rental.
Because of the investment we make, we want to make sure owners that sign up are invested in working with Nomad and the deposit is a small signal of that. We also want to make sure we save our resources only for committed owners so we can provide them the best possible experience.The deposit is refunded when you sign your lease through Nomad.