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?
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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.