Is nashville a good place for short term rentals
I was wondering if nashville is a good short term rental market, does anybody have any short term rentals in nashville?
@Tyrel Holman I have colleagues with short and mid terms rentals in Nashville and surrounding towns! In order to start looking into that market I would identify who you would be trying to target as tenants. Nashville itself at this point can be more difficult to invest in due to how expensive it is. If you are not yet connected with an agent out there I would speak with one who is an expert in STR's that can help guide you! Good luck!
@Olivia Radziszewski do you have colleagues who could identify land in surrounding Nashville communities for development of STVR builds?
#2 Short-Term & Vacation Rental Discussions Contributor
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Hey @Tyrel Holman, there are a lot of restrictions in Nashville that you have to navigate. Check out this site and read up.
https://www.nashville.gov/depa...
If you live in the place, it is easier to get a permit is seems. Non occupied is much more difficult and only allowed in certain areas.
Quote from @Michael Baum:
Hey @Tyrel Holman, there are a lot of restrictions in Nashville that you have to navigate. Check out this site and read up.
https://www.nashville.gov/depa...
If you live in the place, it is easier to get a permit is seems. Non occupied is much more difficult and only allowed in certain areas.
Yep, this! I live in Nashville but all of my STR are in the Smoky Mountains.
That depends on a lot of factors. I stayed in a STR in March right in the Gulch. It was a building with around 40 STR units. Stayed for four days and I bet they had 80% vacancy or more.
It depends what your definition of "good" is...
Firstly, for the most part NOO STRs in the Nashville market are not allowed in most residential areas. The only way you can operate one legally is in specific zoning codes that allow for such a thing.
I have many out of state investors reach out to me looking to do STRs in the area and then get sticker shock on how expensive it is to get into.
You are looking at a $500k starting price on a one bedroom in an STR eligible zone.
For a 3 bedroom attached unit the least expensive property I've seen is $775k. You're more than likely goign to be looking at attached single family properties as these are predominantly the type of homes built in NOO STR zoning codes such as MUL.
I have seen very few detached single fam homes in the area that are NOO STR eligible. There is actually one available right now that I have-brand new $900k.
The good news is, while this is an expensive strategy to get into it's a great market for it. If you are ever in town go check out broadway and you will see why. It doesn't matter if it's a Monday morning or Thursday afternoon. Broadway is absolutely packed with tourists.
