The Rules and Regulations for STRs in Nashville are commonly misunderstood, especially by out of state investors. Here, we try to clear up the confusion. As always, if you have additional question, feel free to reach out directly.
STATUS OF REVIEW At the January 16, 2020, Planning Commission meeting, the Planning Commission asked staff for additional research regarding the proposal. The Commission specifically asked for the following:
• analysis of how many eligible properties would be affected
• where STR’s are currently allowed in relation to the uses outlined
• locations of sensitive uses
• current infractions with their relationship to those distances and focus on future eligible properties.
UPDATED 2/18/20: The bill passed into law on third reading at Metro Council on 2/18/20 affecting nashville airbnb properties.
The non-STR zoning bill has been progressing through the legislative process. (Need a refresher of how a bill becomes a law? We’ve got you covered.) The bill is returning to Metro Council for its third and final reading on Tuesday, February 18, 2020.
Original post: www.nastra.org
UPDATED 2/13/20: The substitute bill passed at Planning Commission on 2/13/20 (as written in the Planning Commission Staff Report).
The bill will return to Metro Council for a public hearing (second reading) on March 5, 2020. (Rescheduled from March 3 due to Election Day.)
For the full story and more information, visit: https://nastra.org/news/owner-occupied-bill-bl2019-79-take-action
On 8/20/2019, the city passed BL2019-1633 (the RM bill). It bans any new non-owner-occupied permits in RM zones and goes into effect January 2022. Anyone w/a permit at that time can continue to renew in perpetuity, but there is no transfer of the permit allowed (an amendment was introduced by Council Members Henderson, Hagar, and Johnson that struck the transfer language from the bill). Anyone purchasing a property with RM zoning after January 2022 will not be able to get a permit. This will greatly adversely affect the value of those properties.
What this also does, in my opinion, is it increases the value of any property that has zoning that allows it to be a non-owner-occupied STR. I would expect the prices of those properties to go up simply based on simple supply and demand.
BL2019-1633 RM bill passed in Nashville Metro Council on 3rd Reading 08/20/19