All Forum Posts by: Tim Bergstrom

@Mark Hower, @tommy d, @Blair Russell, @Luka Milicevic,

Awesome! Thanks guys! Very helpful.

Hey BP,

I've got another question for all you STRP owners. I'm aware of all the bans and constraints of obtaining permits in Nashville right now, essentially only being able to obtain Type 1. But I've been wanting to obtain a permit for my current property. 

Airbnb and VRBO I know have General Liability policies that cover all their listing partners up to $1M. From what I've read on the Nashville codes website this meets the minimum coverage necessary to obtain a permit. So my question is this, do I need to obtain a SEPARATE GL policy to qualify for a permit, or can I simply obtain the policy info that Airbnb and/or VRBO utilize to show proof of this to qualify? I'm not opposed to getting an additional policy and can definitely understand how getting a additional policy would be a good second layer of protection. But just trying to decipher if its necessary to do that at this point or not.

Thanks y'all!

@Chase Beasley

Thanks Chase! That was super helpful.

Thanks for your help/replies @Haley Sulser, @Josh Braun, and @Luka Milicevic. This is helpful and I'll look into these links and references you gave me. Much appreciated!

Hey BP,

I was wondering if someone more knowledgeable about the nitty gritty of the Short Term Rental/Airbnb Nashville ban can shed some light on what I know at this point?

I know that something was passed a few weeks back just want to know what I'm dealing with since over the past few months I have been making plans to convert two of my doors to Short Term Rentals but have just been waiting on renovations to be complete. And if permits become a problem that could significantly alter my plans. I've heard that no permits are being given out at this time (as of May 30, 2017). But is that only for Type 2? Or is that all types?

What is the breakdown of the situation right now? Or is there an article that breaks it down? I've tried doing my own research but can't seem to find anything super current. Maybe I'm just not looking hard enough or in the right places.

Any info would be appreciated! Thanks y'all!

Hey @Luka Milicevic. Gotcha. Thanks. That's kinda what I was afraid of. Seems ridiculous. Thanks for the feedback!

Hey BP,

I've got a fairly specific question for any Nashville investors well versed in the details of Nashville zoning codes and rules. I'm familiar with the common zoning codes such as "R10" being one or two unit dwellings as long as the lot size is big enough vs "RS10" being strictly single family etc. But for properties that were built as multifamily/Duplexes while their zoning was "R", then later had their zoning changed to "RS" I know many of these properties are/can be "Grandfathered in" to still be eligible to build two units. My question is this. Is there a way to look up online if these specific types of properties are eligible to be Grandfathered in? A resource beyond Parcel Viewer and CRS? Or do you have to physically go to the zoning office to inquire? Essentially, how do you check on this for your due diligence specifically for Nashville?

Thanks!

@Carrie Carlton that's good to know! I'm hoping for them to be up and running by June, but I'll have a better idea come mid April. I'll definitely keep your info and feel free to reach out when it comes time for y'all to actually liquidate. Back in 2015 I almost bought a couple properties that had second units on the properties and I had the thought to Airbnb them back then, but the deals didn't work out for other reasons. I've been so frustrated they didn't work out because now I do agree with you that a lot of people are jumping on the band wagon. Thanks for your insight!

Thanks @John Underwood and @Ryanne Hodson for your feedback. You definitely can find good stuff on CL! 

And @Michael Greenberg, yes most definitely. I anticipate most of my guests being in a similar demographic to me in being mostly 20 or 30 somethings just passing through Nashville or getting away for a weekend for whatever reason. My properties are about 5 miles from downtown, making them still a great deal for people wanting the downtown Nashville experience and all that the surrounding areas have to offer. Definitely going for the shaby chic/sophisticated rustic vibe. Being a designer myself I know I can get this look rather easily, just a matter of finding a cost effective method of doing so! I actually reached out to a staging company who has offered vacation rentals as part of their service! Seems like that could be a good option.

Hey BP!

Just want to toss out a question here about furnishing/staging an Airbnb. I'm researching different options to accomplish this for a couple Airbnb listings I'm looking to potentially post in a couple months.

I wanted to ask how any of you with Airbnb/VRBO/vacation rentals have gone about furnishing your spaces? Did you buy all furnishings retail? Buy through a wholesaler? Rent the furniture? Craigslist? One of my listings will be 2b/1b, the other will be 4b/2b so the cost of buying all new furnishings for both properties will be costly and I'm trying to figure out the best option. I have a design background and am not worried about choosing the right aesthetics, simply the cost of setting everything up. If anyone with experience/perspective is willing to share I would greatly appreciate it! Thanks!