I currently have a vacation rental in a resort community in my home state of Washington. I recently booked a vacation rental in Nashville for my wife’s birthday this year. I have been there a few times and really enjoyed the area. As soon as I booked I took a look at vacation rental prices and home prices. It looked like there was an opportunity for a vacation rental home in Nashville. I was reading over the permitting process for a vacation home in Nashville. Have any of you had any issues getting the permit issued? Any tips for the permit? How long does it take to get?
Any suggestions on what part of Nashville? I am interested in speaking to anyone in the area who has a short term vacation rental or experience with one down in the Nashville area.
Real Estate Agent · USA · Member since 2016 · 909 posts · 1k+ votes
6y
@Chris Blume go take a look at the current and pending regulations. It's a really volatile market to invest in short term rentals. The city council is passing anti-STR bill after anti-STR bill.
Real Estate Agent · USA · Member since 2016 · 909 posts · 1k+ votes
6y
@Chris Blume go take a look at the current and pending regulations. It's a really volatile market to invest in short term rentals. The city council is passing anti-STR bill after anti-STR bill.
Real Estate Agent · Sevierville, TN · Member since 2015 · 1k+ posts · 1k+ votes
6y
Hi @Chris Blume! Nashville's a fantastic town, but @Avery Carl is right - it's a very high risk market right now, with a high entry cost. Not only is the city government making it harder for new STRs to get permitted, they're passing regulations and zoning laws that can/will eventually strip existing STRs of their ability to operate as STRs.
This compresses supply a lot and can make for some nice returns right now, but there's a lot of bullets to dodge long-term.
Contractor · Nashville, TN · Member since 2017 · 82 posts · 25 votes
6y
https://www.compass.com/agents... I worked with Spencer Sadler via email and phone prior to moving here He has a pretty solid grasp on vacation rentals in Nashville market I talked with a rep from turnkey vacation rentals who gave quite a bit of helpful information.
If you find anything that pencils out Downtown, let me know, I’m looking as well. It’s hard to find. There are houses that work but I prefer a condo for VRBO.
Contractor · Nashville, TN · Member since 2014 · 1k+ posts · 1k+ votes
6y
The primary hurtle right now is permits aren't allowed in traditional residential zoning. So you have to find semi-commercial property, and you're competing against a slew of buyers who might have other uses for that property.