So you’re thinking about jumping into the lucrative BnB business huh?
The Nashville area certainly offers amazing potential for tourism, and is a natural location for the booming BnB business. We find however that many people are shocked to learn that there are often rules and regulations, license requirements, and even areas/developments that prohibit short term rentals.
I recently had quite the conversation with someone about whether an HOA could “legally” prohibit the operation of a short term rental on a condo he owns. He had a very interesting argument – said rules were not in place when he bought there, etc. He may be right but it certainly seems to be a big battle most people wouldn’t want to tackle.
So how do you dip into or expand in the short term rental business? Well, the good news is there are still some condos, and single family homes that allow short term rentals. The key to success is working with a Realtor that is versed in locating the approved properties, then knowledgeable in protecting you in the contract verbiage should you decide to tender an offer.
If you’re looking for more information this is one of the best articles I’ve found about the pros and cons: 10 Things to Consider Before Buying
Mike Hastings 615-403-1008
Darlene Hastings 615-400-4927
Network Properties, LLC
Top 1% of All Agents Nationwide