Guaranteed Rent in Texas

If a tenant misses a payment, Nomad still pays you on time. If they stop paying altogether, Nomad pays you for the first two months of missed rent, and the tenant's security deposit covers the third. To evict for nonpayment in Texas, you start with a written notice. If the tenant paid on time the month before, it has to be a notice to pay rent or vacate. If they were already behind, you can use that or a notice to vacate, which gives at least 3 days unless the lease says otherwise. After you file, the court sets the hearing 10 to 21 days out, and you can request a writ of possession 6 days after judgment. You file the eviction as the owner, and Nomad reimburses up to $5,000 of the legal costs. Guaranteed Rent covers missed rent during a signed lease, not months when the home sits empty between tenants.

No. Texas law doesn't cap security deposits, so you set the amount. Under Guaranteed Rent the deposit is what covers a third month of missed rent, so a larger deposit gives you more cushion. You have 30 days after move-out to return it, once the tenant gives you a forwarding address in writing.

Guaranteed Rent comes with Nomad's rental management, which starts at 4% of the lease, paid once up front, plus a $99 one-time onboarding fee. If you'd prefer to pay monthly, the fee is 6% of rent. Tenant placement is priced separately, depending on how much of the leasing you want Nomad to handle. Late fees a tenant pays during the lease are kept by Nomad.