Termination of Lease Agreement

Early Termination of Lease Agreement – Best Practices & Mistakes to Avoid

By Devin Henry | August 22, 2022

You have all your properties rented, and things are chugging along nicely. Then you get blindsided by a tenant who wants to get out of their lease months before it ends. This happens […]

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hoa board responsibilities

Understanding HOA Responsibilities as a Residential Rental Entrepreneur

By Devin Henry | August 15, 2022

These days, almost 80% of all U.S. residents live in an HOA community. As a homeowner and landlord, you might buy a home in an HOA neighborhood. If that happens, do you know […]

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rental rate

Determining Rental Value & Price of Your Properties – 7 Expert Tips

By Devin Henry | August 8, 2022

It might surprise you to learn that houses in the United States now cost over $350,000 on average. As a result, it’s become more difficult than ever before for first-time homebuyers to find […]

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Write Offs on Rental Properties

Landscaping and Tax Write-Offs for Rental Properties

By Devin Henry | August 1, 2022

Depending on how much money you’re bringing in from your rental properties, you could be looking at paying as much as 37 percent of your income to taxes each year. Understandably, you may […]

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Security Cameras on Residential Rental Properties

A Guide on Security Cameras & Surveillance on Residential Rental Properties

By Devin Henry | July 19, 2022

Did you know that security cameras can boost residential safety by 300%? Because this figure is so high, it’s important that you invest in rental surveillance equipment ASAP. Here, we’re going to discuss […]

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Putting Your House up for Rent

Putting Your House up for Rent in DC: A Step by Step Guide

By Devin Henry | July 5, 2022

Renters make up 58 percent of households in the District of Columbia, in part due to the large population of college students and political aides. If you own property in the area and […]

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buying a condo

What To Know About Buying a Condo in Washington, DC

By Devin Henry | January 22, 2022

Thanks to the pandemic, the DC real estate market is experiencing a major boom. And for the right buyer, it may just be the perfect time to jump into the market. Of course, there’s […]

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how to be a real estate agent

A Total Guide to Becoming a Real Estate Agent in Washington, DC

By Devin Henry | December 10, 2021

Under the right circumstances, becoming a real estate agent in Washington DC can be a highly lucrative endeavor. After you build enough of a presence in the local industry, you will be able […]

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Best DC Suburbs

The 7 Best DC Suburbs to Own Rental Property

By Devin Henry | December 3, 2021

It is no secret that real estate markets across the entire country are hotter than ever before in recent years. This means that those who are looking to get involved in real estate should do […]

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modern medical clinic

7 Features Every Modern Medical Clinic Should Include

By Devin Henry | November 2, 2021

 Your Guide to Modern Medical Clinic Design Having a modern medical clinic is a great way to attract new patients and make your existing patients comfortable. Creating the look you desire will take […]

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modified gross lease

Modified Gross Lease: An Explainer

By Devin Henry | October 24, 2021

Your Guide to Understanding a Modified Gross Lease Any lease you sign as you move your business into a new commercial property will be full of terms and conditions you’ll have to remember. […]

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close-up of a commercial lease agreement with a pen, calculator, and glasses on the table

A Complete Guide to Your Commercial Lease Agreement

By Devin Henry | October 7, 2021

Your Commercial Lease Agreement: A Tenant’s Guide Businesses face enough uncertainty in today’s world, so savvy operators eliminate it whenever possible. Signing a lease agreement is one way to do that when renting […]

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furniture in a micro apartment

Living in a Micro Apartment: Understanding the Pros and Cons

By Devin Henry | February 4, 2021

You’ve heard the buzz about tiny houses, but now everyone is raving about micro apartments. That’s right! These are tiny apartments about the size of a garage.  If you’re wondering about the square […]

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landlord smiling in her office

All the Reasons Why You Should Use a Landlord App

By Devin Henry | October 23, 2020

Did you know that there are almost 48.5 million rental units in the U.S.? Whether you own one single-family house or twenty multi-unit buildings, you know that maintaining a rental property is a ton of work. Luckily, […]

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sticky notes of questions for personal references

Critical Questions to Ask A Renter’s Personal References

By Devin Henry | October 9, 2020

As a landlord, getting high-quality tenants into your rental homes is crucial to your income, the growth of your business, and keeping your residence in tip-top shape to maximize its value for years […]

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Older woman in chair getting help from nurse

Accessibility Features in a Rental Property

By Drew Maddox | September 4, 2020

Baby Boomers are quickly approaching retirement age, and with that change the United States is seeing a rise in the elderly population that will only continue for the next twenty years or more.  […]

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Person doing move-out inspection on clipboard.

Guide: Move-Out Inspection

By Devin Henry | August 26, 2020

When a tenant moves out, it’s important to assess the condition of the property to ensure your residential real estate is ready for a new tenant. That’s why a move-out inspection is so […]

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Visiting a family member as a guest. When does a guest become a tenant.

When Does a Guest Become a Tenant? How to Write a Guest Policy

By Devin Henry | August 24, 2020

As a property manager, you carefully consider all of the potential tenants before signing a lease; you interview applicants, contact references, and screen financial qualifications. Unfortunately, when it comes to your tenants’ guests, […]

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Looking to renovate an apartment as a part of the Rehab portion of the BRRRR method.

BRRRR Method: Buy, Rehab, Rent, Refinance, Repeat—How to Get it Right

By Devin Henry | August 17, 2020

The BRRRR method is a solid investment strategy. It’s a great way to build your real estate portfolio—as long as you understand what it is and how to use it to your advantage. […]

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House in a mouse trap, symbolizing rental scams.

How to Avoid Rental Scams

By Devin Henry | August 14, 2020

Did you know that American renters have lost millions of dollars due through house rental scams? Not only that, but the Washington D.C. area is one of the cities most vulnerable to these scams. If […]

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A woman reminding herself that rent is due on the 15th.

Guide to Collecting First and Last Months’ Rent

By Devin Henry | July 28, 2020

Collecting the first and last months’ rent from new tenants prior to giving them keys is a common practice among landlords nationwide. When executed correctly alongside a formal written agreement, collecting these fees […]

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curb appeal

What is the ROI of improving curb appeal for a rental?

By Devin Henry | April 28, 2020

Owning a rental property can be incredibly lucrative and rewarding, and history has proven that investing in real estate is one of the most reliable ways to generate wealth over the long term.  […]

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A house key in the front door of a house on move-in day.

How to House Hack in the Nation’s Capital, Washington, DC

By Devin Henry | April 8, 2020

With the average home price of $626,911 in the District of Columbia (DC), you’re probably suffering from sticker shock. This area of the country has the second most expensive housing market with Hawaii as the […]

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calculate dc rental yield

What’s a Good Rental Yield in Washington D.C.?

By Devin Henry | April 3, 2020

Washington D.C. has a perennially strong economy, great livability, a hot real estate market, several universities, and a huge workforce (the political class) that has a high turnover rate. All of those factors […]

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rowhouses in Wasington DC, airbnb house hacking concept

Airbnb House Hacking in Washington DC

By Jenna Rieling | March 26, 2020

Owning a home is an integral part of the American Dream. Unfortunately, it could turn into a nightmare once you start thinking about paying a mortgage. That’s where house hacking, in particular Airbnb […]

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passive income

Passive Income with Benefits: House Hacking

By Devin Henry | March 24, 2020

Can you buy a house and avoid paying the mortgage? Can you build equity without a formidable investment? You can, and it doesn’t have anything to do with magic. It’s called house hacking, […]

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5 Essential Questions to Ask Before Investing in the Shady Grove Housing Market 1

5 Essential Questions to Ask Before Investing in the Shady Grove Housing Market

By Devin Henry | March 10, 2020

The DC red line is home to some of the best real estate markets in the DMV, from DuPont Circle to Bethesda to Silver Spring.  But if you’re looking for affordable housing, look […]

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yellow-line-dc

Along the Yellow Line: Investing in the Best Neighborhoods

By Devin Henry | February 15, 2020

When you hear about people building wealth, you probably hear a lot about real estate investment. A lot of people who are more well-off invest in real estate, and it’s easy to see […]

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housing market trends

The Inside Scoop on DC Metro: Housing Market Trends in 2020

By Devin Henry | January 30, 2020

With the turn of the new year and the new decade, many of us are taking a fresh look at our lives and what we want out of them. Are we really happy […]

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proptech

5 Disruptive Ways PropTech Is Changing Real Estate

By Nomadic Real Estate | November 25, 2019

In today’s world, technology permeates almost every sector, from medical care to law enforcement. It should come as no surprise that proptech began to integrate with the real estate market in various waves […]

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silver spring housing market

2020 Silver Spring Housing Market Forecast

By Nomadic Real Estate | November 5, 2019

The Silver Spring housing market isn’t the most expensive in the DMV area, not in comparison to Arlington or Fairfax counties (especially with Fairfax turning into Amazon’s new playground and Crystal City transforming […]

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Why ACH Payments are Safer Than Writing a Check for Rent 2

Why ACH Payments are Safer Than Writing a Check for Rent

By Suzannah Van Rooy | February 8, 2019

In the day and age of increased cyber security concerns, the hesitation around utilizing ACH payments for rent debit or deposit is understood. It might be a surprise to hear, but electronic fund transfer […]

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6 Tips for Moving Internationally from Washington DC 3

6 Tips for Moving Internationally from Washington DC

By Suzannah Van Rooy | November 26, 2018

Washington DC is an incredibly transient city. People come and go from all corners of the world, daily. A lot of this movement can be attributed to career or educational opportunities. Our friends […]

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Top 6 Tips to Beat the Summer Heat 4

Top 6 Tips to Beat the Summer Heat

By Suzannah Van Rooy | June 3, 2018

As high temperatures and sweat patches start to make their appearance everywhere, the search for ways to beat the summer heat has officially begun. Check out the following tips to help manage your […]

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Basic Business License

How to Get A Basic Business License in DC

By Nomadic Real Estate | October 2, 2017

Did you know, in order to rent your DC property to tenants, it is required by DC law to acquire a Basic Business License? This information tends to come as a surprise to […]

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Find Out Why Our Clients Love Us

If this is your first time leasing your property or you’ve had a bad experience with other property managers, get in touch to schedule an initial consultation with us today. We will walk you through a personalized market analysis of your home and give you our professional recommendations of services needed. As always, our initial consults are always free, and in person. Reach out and get started today!

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Enhanced Reporting

Your portal includes a selection of extremely useful reports. Reports are available in the “Reports” section, and are distinct from the financial statements. Unlike financial statements which are static records, Reports are dynamic real-time records that will update with current data every time you view them. 

Scroll down to learn more about Reports:

Navigate to the "Reports" module in your portal:

  • Keep in mind, these reports are dynamic records. They will refresh to display current information every time you view them. 

Enhanced Rent Roll Report:

  • The Enhanced Rent Roll Report will show the rent amount, last payment date, move-in date, lease expiration date, and security deposit amount for each of your tenants. 
  • It will also show a portfolio summary with occupancy percentage, vacancy loss, and more!

Unit Comparison Report:

  • If you own multiple units (or buildings) with Nomadic, you’ll get access to the Unit Comparison Report. 
  • This report enables you to quickly compare financial performance between your units at a glance without toggling between individual reports. 

Income Statement Month-Over-Month:

  • The Income Statement Detail – Monthly Report serves as a month-over-month record of portfolio performance. You’ll see itemized income and expense categories and can track monthly. This report will update with fresh data every time you view it. 

Financial Statements

Financial statements will be published to your portal on a monthly basis. The statements are found in your Documents library, and provide a historical record of all financial performance. The statements serve as a snapshot of financial performance over a given period, and are static documents (unlike Reports, the statements do not update/change in real-time). 

Scroll down for more info about the Financial Statements in your Documents library:

The Documents area contains monthly financial statements:

  • The statements in the Documents are are static documents. They are posted to the portal once a month to serve as a historical record of financial performance. 

Download a statement to see month and YTD financials:

You'll also find a month-over-month operating statement:

Portal Communication Tool

You can use your owner portal to communicate with our team. Any messages you send through the portal will go straight to your Account Manager. When we reply, you’ll get an email notification and you’ll also see the message in your portal next time you log in. 

Here’s an overview of using the communication platform:

Click "Communications" and navigate to "Conversations":

  • The communications module will contain a record of all messages that you create through the portal. 

Click the "New Message" button and send your message:

Responses will show up in the conversation ticket:

  • You’ll get an email notification whenever you get a response, and you’ll also see the message in your portal next time you log in. 

You can reply in-line using the comment box:

Each conversation will be logged in its entirety:

Understanding the Ledger

Your portal includes a ledger with all transactions. The ledger is populated with data in real-time as transactions flow through our accounting software. Much of this information is also available in the Reports area, as well as the Statements in your Documents library, but the ledger is the most comprehensive resource for diving into the details. 

Please scroll through the sections below to get a better understanding of how to interpret the ledger. 

By default, transactions are sorted chronologically:

  • The date reflected in the lefthand column is the actual transaction date, not the “bill date”. This is the date the transaction was actually processed. 

If you have multiple properties with Nomadic, you'll see the address for each transaction in the "Location" column:

  • You can filter the ledger to look at just one property, all properties, or specific sets of properties. 
  • If you only have one property with us, you’ll just see the ledger for that property. 

The Description column displays the transaction type:

  • BILL: this is an expense transaction, such as for repair costs or management fees.
  • CHARGE: this is a transaction  billed to the tenant, most typically a rent payment. 
  • NACHA EXPORT: this is a credit we processed to your distribution account. This type of transaction is how you get paid! 

The Amount column shows the dollar value of each transaction:

  • Positive Amounts: if an amount is positive, it reflects a transaction that is payable to you. Typically, this will be a rent payment that we collected from your tenants. On occasion, a positive number could also signify a journal entry or credit adjustment. 
  • Negative Amounts:  if an amount is negative, this is a transaction that is either payable to Nomadic or is an amount that has already been paid to you. Typically this will be for repair costs or management/leasing fees. Owner draws (net distributions into your checking/savings account) also reflect as negative amounts, since they have already been paid to you. 

The Account Balance column shows a sum of positive/negative transactions at a given point in time:

  • Account Balance should always equal zero after a net distribution has been processed. When the balance is zero, this means that all expenses have been paid and you’ve received the remainder as net operating income, leaving a balance of zero (meaning: no one is due any money, as all funds have been distributed appropriately). 

Navigating the Propertyware Owner Portal

Your portal includes some extremely useful features that help you understand your property’s financial performance at a new level, with real-time transparency into every transaction.

Scroll through the snapshots below for an overview of portal navigation! If you need more help or have specific questions about using the portal, you can reach out to your Account Manager any time for a screen share. 

You can filter all info by date range or property:

View a snapshot of income and expenses on your dashboard:

See every transaction in real-time on your ledger:

Statements and forms will be posted to your documents library:

View a suite of real-time financial reports:

See a running list of all bills, and drill down for more detail:

Under Bill Details, you'll find dates/descriptions/amounts and more:

You can also communicate with your Account Manager through the portal:

How do net distributions work?

Net distributions keep your accounting clean and simple. Each month we’ll collect rent from the tenants, deduct any repair expenses for the previous month and any management/leasing fees for the current month, and credit the remaining net operating income to your account. 

You’ll receive a statement via email each time a net distribution is processed, and can view all transaction details in your Propertyware owner portal.