Real Estate Agent 路 Lavinia, TN 路 Member since 2021 路 12 posts 路 13 votes
Small-city short term rental owners/managers, what has been your experience? I've got a cute, historic home centrally located in Jackson, TN, within 5-10 min of the hospital, universities, downtown, and shopping/restaurants. I've been rehabbing with the intent to rent long-term, but always thinking in the back of my mind that a furnished short term rental with a little personality might work well here. Visiting family members, short term hospital or university staff, maybe a few tourists, and the folks getting squeezed between selling and buying a home or between rentals due to inventory shortage. This is my first non-occupied investment, and I'm hoping this is a non-committal way to try self-managing. Also, I think maybe it will be fun, but I'm certainly willing to hear otherwise! Also, are there any facebook groups/websites/forums/youtubers that have been super helpful (besides BP, obvs).
Real Estate Agent 路 Lavinia, TN 路 Member since 2021 路 12 posts 路 13 votes
5y
@John Underwood Oh, I'm trying! I'm originally from Nashville and watched the rise and fall of STR there, all due to permitting, zoning, and codes. I read the Jackson zoning ordinances, and checked the zoning on other AirBnB properties vs mine (no difference). I'm trying to decide if I should just go to zoning/codes and ask, but worry I'll be shooting myself in the foot if I do. Tell me if you know something I don't?!
Real Estate Agent 路 Lavinia, TN 路 Member since 2021 路 12 posts 路 13 votes
5y
@Luke Carl That is a very good point... I'm assuming so they won't complain, or if they do, they'll complain to me first so I can try to fix it? Also, thanks for the encouragement!!
@John Underwood Oh, I'm trying! I'm originally from Nashville and watched the rise and fall of STR there, all due to permitting, zoning, and codes. I read the Jackson zoning ordinances, and checked the zoning on other AirBnB properties vs mine (no difference). I'm trying to decide if I should just go to zoning/codes and ask, but worry I'll be shooting myself in the foot if I do. Tell me if you know something I don't?!
I agree on going for it! I also saw the rise and fall (馃槀) of Nashville STR. I understand the shooting in the foot fear, but if it were me, I'd wanna get out in front of it. The Nashville fines for rule breaking have been pretty severe to my understanding.
@John Underwood Oh, I'm trying! I'm originally from Nashville and watched the rise and fall of STR there, all due to permitting, zoning, and codes. I read the Jackson zoning ordinances, and checked the zoning on other AirBnB properties vs mine (no difference). I'm trying to decide if I should just go to zoning/codes and ask, but worry I'll be shooting myself in the foot if I do. Tell me if you know something I don't?!
I agree on going for it! I also saw the rise and fall (馃槀) of Nashville STR. I understand the shooting in the foot fear, but if it were me, I'd wanna get out in front of it. The Nashville fines for rule breaking have been pretty severe to my understanding.
@Gerald Pitts You're right, I know you're right. My instincts just keep leading me astray here, so I'm having trouble trusting myself. Maybe it will be a good opportunity to bring some fancy coffee and pastry down to codes and start building those relationships... And if Jackson ever forms an AirBnB "task force", maybe I'll at least get a courtesy call first.
Walnut Creek, CA 路 Member since 2020 路 285 posts 路 318 votes
5y
@Alex Jenkins check out tools like Airdna and Rabbu to get a sense for what your property could make on Airbnb. If the numbers don't add up, it might be a better option to go the LTR route. Otherwise go for it with a STR!
@Alex Jenkins check out tools like Airdna and Rabbu to get a sense for what your property could make on Airbnb. If the numbers don't add up, it might be a better option to go the LTR route. Otherwise go for it with a STR!
Ooh, I hadn't seen Rabbu yet, thanks for the suggestion! Airdna told me it was a gold mine, so obviously, I can't trust it lol! I appreciate the encouragement, I'm pretty excited!!