STR Nashville zoning regulations
What's up guys!
I am currently researching some properties in specific areas of Nashville, TN for short term rental opportunities. I spoke with 1 realtor who specializes in STR but she recently told me she is no longer servicing Nashville because 3 of her clients are now in lawsuits with the city due to their new zoning regulations that prevent them from doing and short term rentals and they have had to sell or convert them into long term rentals.
Does anyone have any insight on these regulations that are going into place?
Apparently per a new bill they have going on there right now, any city council member can "downzone" any area of their district at any time. Which means they can basically take a scalpel and cut the STR's out of allowance. They go into the zonings that have previously been allowed and change the zonings. They bought in the approved zoning and then the city council went in and changed it after closing or before closing.
Anything helps!
Thanks!