Jan 23 2018 Nashville Short Term Rental Phase-Out Bill

[Tim Bergstrom]

Hey BP!

So I got wind of what got voted on today in Nashville regarding Short Term Rental properties and permits. In case you didn't, here's the link. https://www.tennessean.com/story/news/2018/01/23/a....

I've had my ear to the ground about all this for a while now since this largely affects some properties I'm buying. I'm pretty well versed/aware of the qualifications for the different types of permits (Type 1, 2, and 3) and have known about the writing on the wall for type 2 permit holders. The properties I have under contract qualify for type 3 permits.

In the article it talks about how all "non-owner" permits are going to be phased out in the next 3 years. But I wanted to ask on here if anyone knows if they are just talking about type 2 permits or do they also have type 3 permits on the chopping block? The article fails to specify what it means in saying "phase out short-term rentals that aren't occupied by their owners." From my perspective I would think that it would be quite a large order to do away with not only type 2 but type 3 permits as well since those are specified as multi-family. I know I can go downtown to the zoning and codes office to get this info and will definitely do that if need be, but just wanted to ask on here to perhaps save myself a trip. 

Does anyone have more concrete detailed information on this? Would love to hear about it if so! Thanks!

cheers,

-Tim

[Devan Mcclish]

@Tim Bergstrom I have contacts with the president of NASTRA, as well as multiple attorneys surrounding this issue. Metro's next step is to go after any property zoned RM, which right now is a commercial zoning classified loosely under type 3. This is not going to stop. The state of tennessee will have to put an end to this madness