Gatlinburg Pigeon Forge cash flow str rentals

[Ray Thorsen]

I am heading down to the Smoky Mountain Gatlinburg Pigeon Forge Tennessee area on vacation and wanted to check out some Str cabins for a possible AirBNB model. I am wondering if anyone would share what areas are best or worst, what size units stay rented the most, What amenities are must haves? Obviously brand new with granite counters and a killer Mountain view would be ideal but that comes at a cost. I am trying to figure out if there is a sweet spot when you compare acquisition cost, rental rates and occupancy. Also are there any meet ups in the area that run in the middle of the month?  Thanks

[Chuck Kramer]

Every size home has a niche. There are a lot of 2 and 3 Bdrm units on the market, fewer 4 bedroom units. It is actually more about how many they can comfortably sleep. All three areas do well -- Pigeon Forge, Gatlinburg, and Sevierville and each has an attraction to a different type of renter. PF people tend to prefer the attractions, Dollywood, and the shows. Gatlinburg folks like the small town and being in the park more, which Sevierville is more of a getaway. But they are all similar enough. Best views tend to be in Gatlinburg though, especially of Mt LeConte and that does bring more rentals if you have some view of that. Wears Valley area is growing in popularity with folks looking to avoid the hustle and bustle. Many residences there have a Sevierville mailing address.

Amenities: hot tub, hot tub, and hot tub. Also, either a game room or media room. Personally I think a game room is better if your renters can gather in the living area for TV. A game room can also usually accommodate a pull-out for additional sleeping capacity.

Important note: it is ILLEGAL in TN to advertise a building that is on a septic system for sale or rent with more bedrooms than on the septic permit. Although illegal, many people do it. Lesson is, bedroom count in listings is not to be taken as gospel.

I have seen better slightly better performance for 3+ bdrm homes that have access to a pool -- usually in the community. Factor that into your decision making.

Cobbly Nob, White Oak, Cosby, and the areas out the East Parkway of Gatlinburg are not very popular and do not perform as well as other locales.

The Glades, aka The Arts & Crafts Community, does okay and tends to attract an older crowd and has easy access to Pigeon Forge and Sevierville.

Chalet Village in Gatlinburg is a big area and pretty popular, with units seeing better than average bookings. However, some have high mandatory HOA fees while others have small optional HOA fees for access to the pools.

It might be worth looking for something with proximity to the new Cal Ripken Experience in Pigeon Forge or close to the Rocky Top Sports complex in Gatlinburg. Both are seeing dramatic growth in bookings and sports events/tournaments and being nearby can certainly help keep you booked.

Meetups -- sadly no. Closest is in Knoxville, about 45-60 mins away and is not well attended. Plus, many of the old-time locals don't like us "outsiders" coming in. Remember, this is still a small mountain area.

Bottom line: look inside Pigeon Forge or just outside the city limits for places with Sevierville mailing addresses, as well as the Gatlinburg area. Avoid homes with steep roads or driveways as they will discourage some winter rentals.