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Nashville Air BnB FAQs for Home Buyers

When buying a home in greater Nashville area it’s hard not to be tempted about the potential income your property could bring from having a short term rental property (permit required). This will cover a few general questions you may find helpful when investing in the local Nashville real estate market.

 

What taxes and steps are required to start a short term rental property?

1.) Contact codes and administration to obtain a permit.

2.) Apply online or in person to establish your account number so you can begin filing.

3.) Contact Davidson Country Clerks Office to obtain a business license.

4.) Contact the Tennessee Department of Revenue to setup a sales and use account.

 

 

 

How do I set-up a short term rental property in Davidson County?

You will need a separate for reach short term rental property you own. You can apply for a hotel occupancy privilege tax account number here. You can also apply in person or on the phone.

 

When are hotel occupancy taxes due?

20th of the following month and must be postmarked by the 20th.

 

If I submit delinquent taxes am I subject to inter and penalty?

Yes. Each month will occur penalty fees and interest. There is a form to file and help calculate on the website.

 

If I have no business this month do I still have to file a return?

Yes. $0 booking months still require monthly filings for you Air BnB in Nashville by the 20th of each month.

 

Will my short term rental property in Nashville be audited?

Yes. It is possible that your Air BnB in Nashville or Davidson County be randomly audited for codes and safety.

 

How do I pay my Air BnB taxes in Davidson County Tennessee?

You can pay in person or mail in your payment with cash, check or credit card. At this time the Collections Department does not accept payments online.

 

What hotel taxes should be collected?

1.) 1.6% of gross sales

2.) $2.50 per room per night

A 2% admin fee may be used to collect the fee. These taxes are due by the 20th of each month.

 

How can you make payment?

You can pay by cash, check or credit card. At this time the Collections Office does not accept online payments. You can pay in person or by mail.

Metro Collections Office

PO Box 196300

Nashville, TN 37219-6300

 

 

 

 

Where is the Collections Agency located?

2nd Floor of the Howard Office Building

Howard Office Building

700 2nd Ave South

Nashville, TN 37210

Contact Information

 

 

Hours of Operation

Mon.- Fri. 8:00 a.m.- 4:30 p.m.

 

 

Mailing Address

Collections Office
P.O. Box 196311
Nashville, TN 37219-6311

Phone: 615-862-6215

[email protected]

 

 

Physical Address

Collections Office
700 2nd Ave. South
Suite 205
Nashville, TN 37210

 

 

Piper Hobson-Jones
Collections Supervisor
615-862-6213
[email protected]

 

 

Tammara Brooks
Tax Collections Specialist
615- 862-7187
[email protected]

 

 

John Shire
Tax Collections Specialist
615-862-6932
[email protected]

 

 

Department of Finance Collections Office

Hotel Occupancy Privilege Tax

700 2nd Avenue South, Suite 205

Nashville, TN 37210

615-562-6215

Codes Administration Zoning Division

800 2nd Ave South, Third Floor

Nashville, TN 37210

Bill Herbert, Zoning Administration

615-562-0008

 

 

Davidson Country Clerks Office

Business Tax Division

700 2nd Ave South, Suite 101

Nashville, TN 37210

615-562-6254

 

 

Tennessee Department of Revenue

Sales Tax Number & Tax Payer Services

Andrew Jackson Building

500 Deaderick Street, 3rd Floor

Nashville, TN 37242

 

 

Source: Office of the Treasurer Collections

 

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2018 Projections For East Nashville Real Estate

2018 Projections For East Nashville Real Estate

According to the U.S Census Bureau, the Nashville metro statistical area gained more than 36,000 people in 2016. This means that 100 people move to the region every day and that number has now gone up to 200. With such high population growth, the real estate sector is bound to reap the benefits as the demand continues to supersede the supply. Despite the entry of other small cities, Nashville continues to be in the top 10 list of the hottest real estate markets in America.

The growing interest for people to move to Nashville is influenced by many factors such as affordability, high economic and employment growth, plenty of colleges and universities and of course the chance to grow your music careers. Over the last few years, Nashville has grown tremendously in the real estate sector. This means housing prices have continued to go up with over 34% increase over 4 years only. In East Nashville, the region’s most coveted zip code, prices rose to $521,650 for a 2500 square foot house last year and that is just a start. The question however is, is Nashville in a real estate bubble or is the current housing prices sustainable over a long period?

Well, a bubble by definition usually means that something will burst sooner than later. With the strong regional economy, low unemployment rate and increase in wages especially among millenials, it is safe to say that the prices are sustainable. People are also moving to Nashville by truck loads and they find Nashville housing prices to be very affordable as compared to other big cities in the country. Here is the prediction of East Nashville real estate in 2018.

Move to first-time buyer market

Though the 10% appreciation rate has remained steady over a couple of years, 2018 should see that slowing down as investors move from luxury apartments in the upmarket to first-time buyer’s market. End of 2017 saw a lot of town homes and condos coming up to serve the growing number of millenials moving to this region. Unlike other states where renting is cheaper than buying due to the increasing tax rates, Nashville is not affected by that at all and so people will continue to buy homes instead of renting. With the cost of renting an apartment going up by the day to 35% of your income, it is definitely more feasible to buy a house instead. There will be a slight cooling in the rate at which a house is sold but prices are not expected to go down anytime soon. You can expect to see developers moving their businesses to sub-urban locations to build affordable housing for first-time buyers because the cost of land and labor is much cheaper. However, anyone who has a nice house ready to sell will probably sell it at a good markup because of the high demand.

Increased number of homes

Another likely factor that will slow down the pace in Nashville is the increase of homes built this year. 2017 was characterized by major natural disasters and poor political climate which meant that resources had to be directed to other more desperate needs. However, this should change in 2018 as many developers are rushing to catch up with the demand and that will make the prices go steady and stop spiking so fast. Developers from China and Japan are always on the lookout for places they can build new houses and East Nashville hasn’t been left behind. Unfortunately, this increase will affect houses selling for more than $350,000 first so it might take a while for affordable houses to catch up.

Faster sales

Though there is some promise of tax-cuts with the Trump administration, mortgage interest rates seem to be hiking up by the day. There is no telling how far this will go in the foreseeable future especially since the tax reforms are not guaranteed. With that in mind, many people are rushing to buy houses while they can still afford them and before Nashville housing prices reach the level of other cities. 2018 will experience crazy demand for housing as bankruptcy survivors, baby boomers, foreign investors, immigrants and millenials scramble to get a piece of East Nashville.

Millenials anticipated to gain a huge market share

Between paying off their student loans, keeping up with the upbeat lifestyle, starting families and buying the latest cars, millenials have for a long time been out of the game when it came to buying houses. However, mortgage lenders are now being more accommodating to this group as they make up the largest percentage of spenders in America. This group of people who were born after 1980 have also grown up now and their priorities are fast changing as they start having children and looking for security. In 2018, millenials could reach more than 43 percent of home buyers even in higher priced homes originally left to the older generation. Millenials are now earning more money and can afford to buy their dream houses.

Increase in interest rates

Finally the prediction that interest rates will increase is coming true in 2018. The federal reserve has made three slight increases and this is likely to continue. The Mortgage Bankers Association is expecting the interest rate on a 30-year fixed loan to go up to 5% by the end of 2018. This is the highest level of interest rates that we will get since 2011 so people are bound to feel the pinch especially if the tax reforms don’t make the cut.

Stronger economy

Despite the many tragic things that hit the U.S in 2017, the economy has witnessed tremendous growth. Since most people are finding themselves in long-term employment, their confidence to invest in a home will rise and this of course will increase the demand for housing. More and more people can now afford to buy houses even in expensive areas, which means the foreseen bubble is not bursting anytime soon.

The boom being experience in East Nashville right now is not going down in the foreseeable future unless developers start building double the amount of house being built right now. You can expect the rise of prices to settle down slightly by the end of the year but no much change will be seen in this sector.

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Nashville’s Top 5 Free Events This March

Nashville’s Top 5 Free Events This March

Nashville has a full calendar of  free events running from January to December each year. Such fullness of events is attributed to the availability of many venues for live events. For example, with over 180 live music venues in Nashville, you cannot miss a concert every day. If you are a fun of festivals, baseball, hockey, football, family outings, cultural events, or even art exhibits, there is something for you in Nashville. Here are Nashville’s top 5 free events this March.

  1. The Nashville Lawn and Garden Show– March 1-4

The Nashville lawn and garden show is held each year in March to mark a day full of live presentation, live gardens, lectures and demonstrations at no cost. It also features a gallery of floral design. It is an ideal deal for the lovers of gardens and lawns. This year’s show will feature Brie Arthur, the author of The Foodscape Revolution for the series of lectures for the day. It will be a day of not only fun, but also learning.

  1. Night Market – March 16th, 5PM-9PM

The Nashville Farmers’ Market plans a Night Market the third Friday of every month. This is a rain or shine event, from 5:00pm to 9:00pm. The restaurants and shops stay open late and there are artisans, farmers, and live music. The events are FREE to attend and family-friendly. Beer, cocktails, and wine are available for purchase.

  1. Rome: City and Empire– Feb 23-Mar 28, 2018

The Rome: City and Empire event presents an exhibition of more than 2000 artwork pieces from the British Museum as a way of bringing out the clarity of the ancient civilization. It is an insightful event that hopes to use art to show Romans’ experiences as well as to cultivate an understanding of how the imperial government and its conquests related. Objects from North Africa, Western Europe, and the Middle East serve as a show of how diverse the empire was.

  1. The Evolution pop Culture Community Summit – Mar 9-10, 2018

The summit will feature Robert Townsend, a director, producer and actor. The Heal the Hood Foundation of Memphis and MAW Productions will be hosting. During the event, there will be a section on comic book storytelling. Also, there will be a community Summit featuring a section of questions and answers to discuss Black Panther, Meteor Man, African American Heroes, Social and Economic empowerment etc. The event will offer attendees a chance to connect and learn about the growing culture that comprises of minority heroes.

  1. Storytellers –Mar 18, 2018

The Storytellers event aims to bring sponsors, fans and creators together from different parts of the world to share ideas in a bid to grow the entertainment and story industry. More than 50 creators are expected to attend this year’s Storytellers event.

Evidently, Nashville is all packed in terms of exciting and free events that you can attend anytime. All you need to do is establish your interest and look out for Nashville’s calendar of events.

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Nashville free events for March 1st-3rd: Thrive Nashville

Make the most of your weekend without spending a dime. Here are 5 free events happening in Nashville this weekend.

 

National Pig Day Celebration

Thursday, March 1st, 2018 4:30 PM – 5:30 PM

Nashville Public Library: Pruitt Branch

 

Designed for children ages 5-10, this fun arts and crafts event blends education with hands on projects to celebrate the joy and natural intelligence of domestic pigs.

FAMOUS! (and not-so-famous): Polaroids by Andy Warhol

March 1st & 2nd, 11 AM – 4 PM

Vanderbilt University Fine Arts Gallery

 

This collection of polaroid portraits by the king of pop art Andy Warhol features massive celebrities, commissioned portraits, and more intimate, personal portraits. Also on display are contextual pieces such as a screen print form the Andy Warhol Foundation and a selection of polaroid cameras. Come see this impressive exhibit before it closes on March 2nd.

 

Nashville Sports Council Downtown Dribble

Saturday March 3rd, 12-3pm

Bridgestone Arena Plaza

 

Start off your March Madness with this fun, family friendly event hosted by the Nashville Sports Council. Children 5-14 years old receive a free t-shirt and basketball and get to dribble around Bridgestone Arena. Check-in begins at 12 noon, dribbling begins at 2pm. Register ahead of time here.

 

TAPE DECK MOUNTAIN – In Store Concert
Saturday, March 3rd @ 5PM

Grimey’s Records

 

Hear Nashville based shoegaze trio Tape Deck Mountain play music from their new album “Echo Chamber Blues” before their official album release show later that day at Cobra. Not only is this a free show, there’s free beer for everyone over 21. From their chill, experimental music to the laidback recordstore setting, this is bound to be a cool show.

 

First Saturday Art Crawl

Saturday March 3rd, 6-9pm

Multiple Locations

 

The first Saturday of every month, 25 galleries and studios open their doors and host free receptions for the downtown art crawl. Meet local artists, learn about international painters, eat and drink free reshments, take a ride on the free gray-line trolley, and maybe even find the perfect piece of art to hang in your living room.

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37206 Home Prices & Values

Over the past two years, there has been a significant change in 37206’s real estate industry. Such changes have seen the prices and values of homes here increase from December 2016 going forward. Here is a brief overview of the state of homes in 37206 in terms of price and value.

The value of homes in 37206

Presently, the average value for a home in 37206 is around $323,300. According to past statistics, homes have increased in value by about 7.2% from last year. However, according to the prediction of Zillow, there is a high expectation that there will be a 3.2% rise in the coming year.

The prices of homes in 37206

The prices of homes in 37206 have increased as well. For example, the median list price for a home in 37206 is US$235 for every square foot. In comparison to the neighboring areas, this price is quite high. For instance, Nashville’s list price for a similar home is US$196 per square foot. With respect to the current listing, a home in 37206 has a median price of US$399,900. Nonetheless, the median price for the sold homes stood at US$355,500.

Rent price for homes in 37206

This area has some of the highest priced rental homes in comparison to Nashville. Rental houses and homes here are going for as high as US$1,900, while in Nashville similar homes and houses are going for US$1,600 monthly rent.
Impact of foreclosures on homes’ prices and value

Numerous factors will influence the prices and value of homes in the years to come. One of such factors is foreclosure. For example, out of 10,000 homes in 37206, 0.9 are foreclosed. Such a rate is much lower as compared to the national value of 1.6 and 1.4 in Nashville. The foreclosure process starts with mortgage delinquency. At times, homeowners may fail to meet their mortgage payment obligation, which leads to mortgage delinquency. 37206 has a lower rate or mortgage delinquency (0.7%) considering that the national value stands at 1.6%.

The United States of America has suffered a great deal in the value of homes. Nevertheless, around the year 2007, the country had some of the highest valued homes although the peak value never went past the year 2011. Since the fall in the value of homes in the U.S. in 2011, there has been a consistent decrease of about 20% in the value of homes. Such reduction in homes’ value has had a significant impact on the many homeowners, especially those who had acquired their homes through mortgage plans. A large number of homeowners are experiencing a condition where they are underwater as far as their mortgages are concerned. The implication is that their homes’ worth is much less than what they owe. 37206 has not been left behind as far as the underwater situation is concerned; 8.4% of the homeowners are underwater in the mortgages. This percentage of homeowners underwater in 37206 is higher as compared to the case in Nashville whose percentage stands at 7.0%.

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Double Open House Alert!

This Sunday I will be showing two neighboring East Nashville homes. Both of these inviting properties are recently renovated and move-in ready! It’s never been easier to tour two houses in the same day, so come in, say hello, and make yourself at home.

 

If you would to schedule a personal showing before or after the open house please do so here.

1405 Chester Ave Nashville, TN 37206

Open House February 25th 2-4pm

A perfect blend of classic and modern, this 2 bedroom, 1.5 bath stone cottage has both arched doorways and chic new fixtures. The freshly renovated kitchen comes equipped with all new stainless steel appliances and opens directly into the dining area and the back deck, making it ideal for entertaining. The charming spiral staircase leads into a converted attic bedroom, maximizing the space.

 

If you would to schedule a personal showing before or after the open house please do so here.

1407 Chester Ave Nashville, TN 37206

Open House February 25th 2-4pm

This renovated 1939 stone cottage is cozy yet modern interior with finished hardwood floors, a converted attic, and no shortage of natural light. The covered patio and spacious backyard add extra living space to the 2 bedroom, 2 bath, 1184 square foot home.

If you would to schedule a personal showing before or after the open house please do so here.

Here are a few other exciting properties being shown this weekend. Check them out!

1113 Shelby Ave, Nashville, TN 37206

Open House February 24th 12-2pm

This 2 bed, 2 bath Victorian house has everything your East Nashville dreams are made of: five fireplaces, crown molding, stained glass, a double shower, patio, deck, and gazebo. Not to mention, it’s in walking distance of all the amenities of Five Points.

Schedule a personal showing here.

1202 Boscobel St, Nashville, TN 37206

Open House February 25th 2-4pm

This renovated 1920s home in historic Lockeland Springs comes with many benefits: a rooftop deck, a separate 2 car garage, and all new HVAC, water heater, refrigerator, and dishwasher. This home has 3 bedrooms, 2 bathrooms, and 1,638 square feet of charm and trendiness.

 Schedule a personal showing here.

4747 Humber Drive Nashville, TN 37211

Open House Feb 25th 2-4pm

This house is great for a big family or for someone looking to get into property management. With 6 bedrooms and three baths, the building can easily be divided into three rentable units. Located in one of Nashville’s most diverse neighborhoods, this property has easy access to various international grocery stores and exciting restaurants.

 

Schedule a personal showing here.

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East Nashville Architecture

East Nashville Architecture Chase Leatherwood

East Nashville is an artsy, socially conscious neighborhood of Nashville. Most residents of this borough find their next address in East End, Historic Edgefield, and Lockeland Springs. Each of these areas has a personality to their homes too.

The architectural influences of East Nashville are Dutch and European with common construction styles of Bungalow, Victorian, and Craftsman. Most homes in East Nashville were built around the 1950s and ‘60s, but you’ll find charming, historic homes throughout the area.

Bungalow Style 

Bungalow style home
An example of bungalow architecture sty;e.

First up is the bungalow. A vintage bungalow home often has a lower pitched gable roof, porch, and squared off edges in structural supports and exterior accents. The main entrance is typically in the center with an extended overhang on the front steps. In East Nashville, most bungalow style homes have undergone at least one major renovation to update or refinish hardwood floors and home systems.

Victorian Style 

victorian home nashville
An example of Victorian architecture style.

Another look you’ll see a lot of is the Victorian style on many East Nashville corner lots. Turned spokes on roof overhangs and carved wooden accents at the entryway and main rooms are charming and unique to each property. East Nashville Victorians are also noted for plaster walls, smaller rooms, and a fireplace in the living room or den.

If you buy a Victorian style home, I highly recommend keeping original carved accents as these details are popular for resale values.

Craftsman Style 

craftsman home nashville
An example of craftsman architecture style.

Last but not least, one of the most popular looks – the Craftsman. The curated look of this house in East Nashville is gorgeous and timeless. In Nashville, most of these homes are either constructed of stone or brick and wood. A popular and sought-after feature of the Craftsman home is heavy trim on the square windows, which are typically painted a bright white or contrasting color.

Want to live here?

Your next home is awaiting your arrival. I’d be happy to show you around! I’m just a phone call or email away. Take a look at the inventory available to you here on my website. It’s updated daily with new properties all over Nashville’s popular neighborhoods and the surrounding areas.

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6 REASONS TO LOVE LOCKELAND SPRINGS

Lockeland Springs is Nashville’s artisanal paradise—everything there looks hand-crafted, from historic homes to The Idea Hatchery, an incubator for hyperlocal shops. If you’re looking to buy in Lockeland springs, you’re in very good company: homes start around $275,000, and you should definitely expect competition. But there’s an excellent reason why everyone’s itching to get into east Nashville’s gem of a neighborhood. It’s heaven. Here’s six reasons why:

 

#1. There Really Are Springs

The problem with all those cookie-cutter subdivisions with names like “Pinecrest Ridge” or “River Chase” (okay, one problem) is that even the names mean nothing: Where’s the ridge? Where’s the river? But there is a real, honest-to-God Lockeland Springs… in fact, an entire park, located on the former site of the old Lockeland mansion. The water was once so highly valued for its medicinal properties that they used to bottle and sell it. They don’t anymore, but you can still enjoy the park—not to mention the nearby community garden.

 

#2. Shelby Park Is Pretty Cool, Too

While plans for redeveloping Lockeland Springs Park are still underway, Shelby Park’s in full flower. There’s a golf course, playgrounds, a dog park, and live performances and movies.

#3. The Annual Holiday Home Tour

Lockeland Springs is a living lesson in architectural history, with authentic styles ranging from Italianate to Queen Anne to 20th Century Craftsman. To celebrate it, the Neighborhood Association celebrates its Holiday Home Tour each December. It’s a great way to see some beautiful homes (and meet people who could be your future neighbors)!

 

#4. So Very Much Amazing New Retail

Lockeland Springs is about more than its charming past. It’s also home to new food and retail developments. We’ve already mentioned the uber-popular Idea Hatchery… be sure to check out Walden at Eastland and Chapel, home to Jeni’s Splendid Ice Cream and Two Ten Jack’s amazing ramen. Over on Fatherland and 11th is The Fatherland District, a fast-growing collection of shops and restaurants that includes The Galena Garlic Company, Konadu Body Care, and the C Williams Writing Studio.

 

#5. Galleries Galore

Where do we start? Lockeland Springs has creativity in its bones. Try the Plowhouse Artists Coop, Billups Art, and The Art & Invention Gallery for starters. And if you need more than just a feast for the eyes…

 

#6.It’s Music to Your Ears

This is Nashville! Lockeland Springs is home to Fanny’s House of Music, “Nashville’s most comfortable music store,” home to a great selection of electric and folk instruments. There’s also historic Woodland Studios, currently enjoying a renaissance thanks to Gillian Welch and David Rawlings. If you’re looking for live performances, check out The 5 Spot, The East Room, The Green Room… really, you can’t go wrong here.

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Let’s Do This Nashville! Toy Drive in East Nashville

 

Hey Nashville! Let’s do this!

This year I want to fill my tree full Toys for Tots. You can drop your toy off at my home in East Nashville at 2420 Little Ave. I will drop all of the gifts off on Dec 22nd.

For those of you that prefer to make a monetary donation I have setup a page here: https://www.crowdrise.com/east-nashville…/…/chaseleatherwood. I have also put an official Toys for Tots donation station in the front yard.

I will be matching up to $250 in donations. Any cash donations raised will be used on Dec 20th to purchase gifts for drop off. Check my page daily to watch the tree fill up! Help me raise gifts for those really in need this year. Thanks Nashville!

Chase, Realtor®
Village Real Estate
615-988-0355
[email protected]

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For Sale by Owner: Lockeland Springs

This weeks Make Me Move Nashville is in the East Nashville Neighborhood of Lockeland Springs. The prior MLS record indicates this was last sold as a 2 beds, 1 full Bath, single family remodeled brick cottage with designer decor. The home also features refinished hardwood floors, dining area, good storage, new windows, and antique styled bathroom. You will also find a large outdoor deck space with a covered patio, hot tub, fully fenced-in yard, and great neighborhood.

East Nashville is known for their restaurants, hipster attitudes and a place for the locals to hangout. If you’ve ever been to the East Nashville Tomatoes Festival you know just how fun and neighborly this community can be. It’s very progressive and has come a long way in the past 10 years.

  • Make me move list price is $350,000
  • Last advertised Sq ft: 850 sq ft
  • Price/sqft: $265
  • Neighborhood: East Nashville | Lockeland Springs

If you’d like to schedule a time to look at this home you can click here to book a time with me.