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Published on: Feb 2, 2024
Zillow Rental Manager is a robust tool that helps landlords find tenants, lease their property, and collect rent payments online.
Nomad is a property management platform that landlords can leverage to find tenants and lease their property, while also receiving additional on-going maintenance support, property protection, and guaranteed rent for the life of their lease.
Both companies offer great products and services. If you’re a seasoned rental professional looking to fill a vacancy, Zillow Rental Manager is a great option. However, if you’re new to renting property or are looking for a different property management approach and want a longer-term rental partner with more support and guaranteed rent, Nomad is the best choice for you.
Making the decision to rent out your property presents a unique blend of opportunities and challenges. In the landscape of property management, there are numerous different products and partners to choose from that all have their own unique offerings. In this article, we’ll be looking specifically at the characteristics and differences between the biggest player in the space, Zillow Rental Manager, and our company Nomad.
The hope is by analyzing both Zillow Rental Manager and Nomad, you’ll gain a thorough understanding of what partnering with each provider looks like. Whether you are stepping into the realm of property management for the first time or are an experienced landlord looking to switch things up, the information in this article will better equip you to make the best decision for you and your rental property. Let’s get started!
Better Understanding ZIllow Rental Manager
Zillow has become arguably the largest and most recognized name in digital real estate, revolutionizing the way we both rent and sell property. In 2016, ZIllow introduced Zillow Rental Manager, a newer product specifically designed to support landlords in all aspects of property leasing. This service extends Zillow's digital expertise to the realm of rental property management, offering a suite of tools to assist landlords with finding and screening tenants, executing leases, and managing rent collection efficiently. As a natural extension of Zillow's robust platform, Zillow Rental Manager aims to simplify and streamline the rental process, harnessing the power of technology to enhance the landlord experience.
Key Features of Zillow Rental Manager:
Wide Reach for Tenant Attraction: The primary advantage of using Zillow Rental Manager is its ability to tap into Zillow’s widespread audience. This feature is pivotal for landlords aiming to find tenants for their rental property quickly and efficiently.
Tools for Optimal Pricing and Tenant Screening: Beyond just listing properties, Zillow Rental Manager assists in determining competitive rental prices and provides comprehensive tenant screening services. These tools are designed to ensure that you not only find tenants but also get the best possible return on your rental property.
Understanding the Costs:
Basic Listing: The basic service of publishing a listing is free, removing any barriers for rental property owners to fill vacancies.
Premium Membership: For folks looking for additional features, Zillow offers a premium membership for $29.99 for 90 days. This membership includes several additional benefits:
Increased Exposure: Premium listings receive more visibility on Zillow platform primarily through higher rankings on the list view for a given area.
Advanced Screening and Pricing Tools: The membership provides access to advanced tenant screening and pricing to help ensure landlords get top dollar for their investment.
Listing Recommendations: A member of the Zillow team will view your listing and provide feedback to help you rent your property faster.
Zillow Rental Manager presents a comprehensive package for small landlords. It combines the ease of listing with advanced tools for tenant screening and pricing, all while offering the flexibility of a free basic service and a value-added premium membership. For those seeking to maximize the potential of their rental properties, Zillow Rental Manager is a viable and potent option.
Nomad: Revolutionizing Property Rental with Guaranteed Rent
Since 2020, Nomad has gained significant traction in the rental property space by offering a unique blend of traditional leasing tools with additional benefits similar to those offered by traditional property managers. What sets Nomad apart is its innovative, tech-forward approach to property management and owner security, particularly through its core product, Guaranteed Rent.
Key Aspects of Nomad:
Guaranteed Rent: Nomad's flagship offering, Guaranteed Rent, ensures landlords receive consistent, on-time rental payments, a significant advantage especially in scenarios where tenants may face financial difficulties.
Comprehensive Leasing Tools and Security: Nomad combines the ease and functionality expected from a leasing partner with additional security and features such property protection and maintenance concierge offered by property managers. This comprehensive approach ensures landlords have all the necessary tools at their disposal, simplifying the rental process.
Free Account Creation and Rental Estimate: Creating an account with Nomad is free and includes a detailed rental estimate for your property, giving you a clear insight into what you could likely charge per month.
Flexible Showing Options:
DIY Package: Starting at just $199, this package empowers landlords to manage property showings themselves more effectively.
Smart Lockbox Option: For landlords who want to be more hands off, Nomad has a self-showings option. Prospective tenants will be able to tour the property themselves using a smart lockbox for a one time fee of $750.
Professional Property Showings: If a more hands-on approach is preferred, Nomad offers having the property professionally shown to potential tenants for a one-time fee of $1,250.
Additional Services: For just $99, landlords can opt for professional-quality photos and walk-through videos, enhancing the appeal of their listings. These will be assets you keep for the life of the lease and if you ever choose to part ways with Nomad.
On-going maintenance support, property protection, Guaranteed Rent, and the entire suite of owner benefits start at just 3% monthly for the duration of the lease.
Nomad's approach is characterized by ease, security, and a range of options tailored to meet the needs of every landlord. The combination of reliable rent payments through Guaranteed Rent, flexible showing options, and owner benefits position Nomad as a compelling choice for landlords seeking a modern, comprehensive solution for their rental properties at a fraction of the cost of a traditional property management company.
Exploring the Unique Differences of Zillow Rental Manager and Nomad
When weighing the options between Zillow Rental Manager and Nomad, having a clear understanding of their differences is crucial. Both platforms offer unique advantages, but certain key differences set them apart, making them both great options depending on your specific property management needs.
The approach from both platforms to rent security is a significant differentiator. With Zillow Rental Manager, if a tenant struggles to pay rent, the landlord is personally responsible for covering any unpaid rent and finding a new tenant if necessary. Nomad introduces an essential feature for landlords seeking financial stability: Guaranteed Rent. This service ensures landlords receive their rental income on time, regardless of their tenant's financial situation. Additionally, in the event a resident needs to be evicted for non-payment, Nomad covers the costs and legal fees up to the first court date, providing a significant safety net for landlords.
Listing reach is another area where these platforms differ. Zillow Rental Manager syndicates listings to three specific sites, with the bulk of the value coming from exposure on Zillow specifically. Nomad, however, broadens this scope by syndicating your rental property to 15 different sources (including Zillow), increasing visibility and the likelihood of finding suitable tenants more efficiently.
Ongoing Support and Protection:
After the lease is signed, Zillow Rental Manager continues to support landlords with features like online rent collection, tax support, and move-out information. Nomad, however, extends its services further, offering Nomad Home Assistant for continuous support and emergency triage. This is in addition to over $500,000 in property protection coverage, an extensive safety net that surpasses the offerings of Zillow Rental Manager.
Weighing Your Options with Zillow Rental Manager and Nomad
Now that we’ve examined both Zillow Rental Manager and Nomad, it's clear that both platforms offer valuable services that fit the needs of any and all rental property owners. Zillow Rental Manager, with its strong brand recognition, reach, and low-cost model, is a great choice for many landlords, especially those looking to quickly screen and place tenants.
However, it's important to consider some of the limitations we've discussed. While Zillow Rental Manager offers a solid foundation for rental property management, aspects like the lack of showing options and post-lease support might impact your decision if those are features you’re looking for from a rental property partner.
This is where Nomad comes in. For landlords seeking additional security and peace of mind for their properties, Nomad's Guaranteed Rent product offers a clear advantage, ensuring on-time payments each month, no matter what. Combined with its broader syndication scope and extensive ongoing support (including Nomad Home Assistant and substantial property protection coverage) Nomad goes above and beyond the traditional property management model.
Ultimately, the choice between Zillow Rental Manager and Nomad depends on your specific needs and what you value most when it comes to managing your rental property. If filling a vacancy quickly is your top priority, Zillow Rental Manager is likely the best choice for you. However, if guaranteed rent, a wider tenant reach, and a more extensive support system are part of your needs, Nomad emerges as the clear winner. To learn more about what partnering with Nomad looks like, get started by requesting a free rental estimate for your property and get in touch with a member of our team!
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