One who lives at a residence and whose sole duty is to pleasure an entire household sexual, free from emotional constraints.
Bryan: "Who is that girl that lives in your house and is blowing you and all of your room mates?"
Toby: "That's Kate, the dick nanny."
Frat Guy 1: "Did you hook up with Sarah last night?"
Frat Guy 2: "Naw, she lives at Kevin's and is a total dick nanny."