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Short-Term Rental (STR) Regulations
In Nashville, TN, Short Term Rental (STR) regulations are governed by the Metro Nashville Codes and Regulations. Investors looking to purchase a property for short term rental purposes should be aware of the following regulations:
1. Type of Property: Only certain types of properties are eligible for short term rental in Nashville. These include owner-occupied properties, non-owner occupied properties with a Type 1 permit, and non-owner occupied properties with a Type 2 permit.
2. Permit Requirements: Property owners must obtain a permit from the Metro Nashville Codes Department in order to operate a short term rental. The permit application process includes a background check, property inspection, and payment of fees.
3. Occupancy Limits: There are occupancy limits for short term rentals in Nashville, with a maximum of 12 guests allowed in a property at any given time. Additionally, there are restrictions on the number of bedrooms that can be rented out in a property.
4. Noise and Nuisance Regulations: Property owners are required to adhere to noise regulations and ensure that their guests do not disturb neighbors. Excessive noise or nuisance complaints can result in fines or revocation of the short term rental permit.
5. Taxes: Property owners are required to collect and remit hotel occupancy taxes on short term rental stays in Nashville. Failure to do so can result in penalties and fines.
6. Insurance Requirements: Property owners are required to maintain liability insurance coverage for their short term rental property.
7. Zoning Regulations: Short term rentals are only permitted in certain zoning districts in Nashville. Investors should check the zoning regulations for the specific property they are interested in purchasing.
Overall, investors should thoroughly research and understand the Short Term Rental regulations in Nashville before purchasing a property for this purpose. Failure to comply with these regulations can result in fines, penalties, and potential loss of income from the property.