The Nomadic management phase incorporates a series of extensive services and an online platform that provides our clients terrific peace of mind and a complete understanding of how we operate.
Rent Collection
Nomadic utilizes an advanced Banking System that allows us to auto-debit our tenant accounts and collect rent on the first business day of the month. In turn, we have the ability to take all rent received and provide our clients a direct credit on the third business day of each month.
Record Keeping
Nomadic creates a Property Ledger for each asset under management. The ledger stores all income/expenses per month and generates an annual statement perfect for tax purposes.
Property Spot Checks
Nomadic performs semi-annual property spot checks. These checks allow Nomadic to ensure the value of the home is being preserved. After each spot check, a condition statement is delivered to our clients that provides an accurate assessment of the home. The statement also outlines potential trouble areas and affords our clients additional time to budget for future property expenses.
Work Orders
Nomadic handles all tenant relations and property issues. Most commonly, these issues revolve around property work orders, when an item, appliance, etc. within the home breaks down. Nomadic inspects the issue, provides multiple estimates from top of the line contractors, schedules repairs and is present to pay vendors at the time of service. Quality work is ensured and the approved work order costs are itemized from the following month’s rent. Nomadic prides itself on having one of the fastest response times in the industry.
Apartment Turnover
Nomadic requires a 60 day Notice to Vacate from its tenants. This ensures we have 2 months to market the property while occupied and minimize vacancy loss. All cleaning costs are supplemented by the tenant and any damage above normal wear and tear is itemized from the security deposit on file. If tenants do vacate, we minimize turnover costs and vacancy loss. If they opt to stay, they are presented renewal terms based on real time local market data.
DCRA
The District of Columbia requires all rental properties to be registered with the Department of Consumer and Regulatory Affairs (DCRA). Nomadic handles this entire process for its clients. This includes properly filing all associated paperwork, equipping the home for inspection and obtaining the property’s Basic Business License.
Portal
Nomadic is proud to provide its clients an online web portal that represents cutting edge technology for the industry. All Nomadic clients have an online account that allows them to view real time Banking information. In addition, clients can obtain updates on all open Work Orders, view a history of all closed Work Orders, view all property forms (Management Agreement, Lease, Move-in Inspection, Property Spot Checks, etc) and view a snapshot of all lead and showing activity if the property is in the leasing phase.
Cost of Service
Nomadic charges an 8% monthly Management Fee (8% of rent received). Please note, no fee is owed if the property is vacant. In addition, no Management Fee is assessed during the same month a Full Locator Fee is charged. Nomadic prices its services in line with the local competition and is confident it provides its clients superior services and levels of customer support.