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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 Germantown Nashville Real Estate

2018 Projections For Germantown Nashville Real Estate

In the past, Nashville was known for having high crime rates, which scared investors away. Over the past few years however, the region has recorded significant changes as far as its real estate industry is concerned. Such changes include a rise in the value of homes, as well as an increase in the number of new homes around the region. The reduction in crime rate and the shift in home value have led to the development of diverse types of property and growth of better neighborhoods around Nashville. Germantown is one of the regions in Nashville that has experienced such changes in the real estate profile over the past years. This article provides an overview of some of the 2018 projections for Germantown Nashville real estate.

Growth in the number of residents with family 

Germantown Nashville is located in Tennessee and comprises of eight neighborhoods. With its population of about 39,000 people, the city qualifies to be considered as a medium city. The region has some of the most expensive homes in Tennessee. Such high prices of homes are consistent with the case of real estate in America presently, with Germantown’s homes ranking among the highly valued homes in the whole of America. The city is considerably a white-collar region having the majority of residents here (92.19%) in white-collar employments.  The region is family-friendly and hence, attracts most people with families to live here due to a number of factors. Good school district, low crime rate and the availability of single-family homes are among the factors that are likely to attract many people, especially couples with children, to look for homes and settle in Germantown.

Increase in the number of new homes in Germantown Nashville 

It is an undeniable fact that the real estate industry in Germanton has grown over the past few years. The city has about 14,476 apartments or houses. In addition, it has been termed as one of the neighborhoods in Nashville that has highly priced homes. For example, the cost for a home in Germantown is about $334,322. The majority of the homes here are single-family but large with a high percentage of these homes comprising of four, five, or even more bedrooms. There are other types of homes such as the owner-occupied homes, which consist of four and three bed-roomed apartments. Most houses here were built between the 1970s and 1990s, although there is a considerable shift towards modern housing in the city as evident in the majority of houses that were constructed after 2000. Generally, Germantown has diversity in the types of homes due to the difference in the times they were built. However, considering the growing demand for homes in the area, chances are high that new homes will come up to cater for these needs. This can be traced from the increasing value and prices of homes in Germantown and its neighborhoods.

Higher rate of appreciation in value of homes in Germantown 

The growth experienced in the real estate industry in Germantown has led to the appreciation in the prices and value of homes in the region. Over the last ten years, the homes in this area have been considered to be above average in terms of prices. Rated within the ten years, the cumulative rate of appreciation in the value of homes in Germantown Nashville was 10.56%, which has placed the region at the top in terms of the national rank. Computed annually, such appreciation translates to about 1.01%.

Even though the nation has been experiencing a decrease in the real estate market, the case has been different in Germantown Nashville. The appreciation rates have remained strong with a promising increase in 2018, and the years to come. In comparison to most other communities around, the value of homes in Germantown shows a positive trend in term of appreciation. According to the statistics over the last one year, the appreciation rate of homes in the city has hit 7.5%, making Germantown Nashville rank higher than 80.8% of the towns and cities around. Such a condition has seen the majority of short-term real estate investors make the most out of Germantown’s real estate. This can be attributed to the considerable increase in the appreciation rate per year from 1.01% in the last year to 2.01% in the latest quarter. Such an increase is a sign that the appreciation rate of the value for homes in Germantown will be high in 2018 and the succeeding years.

A rise in the median value and price of homes

The current median value of a home in Germantown Nashville stands at US$ 297,500. Past trends indicate that the area has experienced a significant rise in home values by 1.3% as compared to the past year. In spite of this high value, the projections by Zillow indicate that in 2018, the value will go high to reach a peak of 1.6% and even much higher in the future years. The price increase in Germantown can be attributed to the growing demand for homes in the area. Presently, the median list price of homes in the area stands at US$299,945, with the list price for every square foot being US$207. It is projected that the medium price per square foot for listed homes will increase significantly with the projected increase in demand and shortage of new homes.

Low impact of foreclosures 

Foreclosures have a significant impact in the real estate industry of the United States. Nevertheless, the rate of foreclosures in Germantown Nashville is low at 0.8 homes for every 10,000 homes. Such a rate is relatively lower in comparison to the condition in Washington Metro with a value of 1.7. With respect to the rising value and price of homes in the city, it is highly likely that the foreclosure value will reduce in 2018, with a projected lower impact in the region’s real estate industry.

Evidently, Germantown has experienced significant growth in its real estate industry, which is relative to the case in the whole of Nashville. It is expected that the homes in Germantown will continue to rise in value and price in 2018, and in the future.

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5 GREAT GERMANTOWN RESTAURANTS (AND ONE GREAT HOTEL)

Nestled along the western shore of the Cumberland River, Nashville’s Germantown neighborhood has been described many ways, all of them attractive: charming, walkable, tree-lined, even boutiquey. One word we’d like to throw into the mix is “delicious.” This neighborhood is home to amazing cuisine! Here’s a few great Germantown restaurants to get you started, ranging from a quick bite to a leisurely night out.

#1. Lulu

From the people who bought you Burger Up, Josephine, and the Frothy Monkey, Lulu is fast-casual dining with flair. The menu includes three different juices, labeled Red, Orange, and Green (they’re all fresh, tasty, and natural). There’s excellent composed grain bowls and salad for the health-conscious—but if you’re not ready to say goodbye to animal protein, enjoy a burger made of Triple L Ranch Beef. And don’t miss the soft-serve ice cream… never mind, you can’t, it’s right next to the door.

#2. Steadfast

This local roaster lives by the three Cs: Coffee, Creativity, and Community. Try Steadfast’s flash-chilled coffee, rested drinks (an espresso and milk concoction that’s allowed to “rest” before serving) and their famous Matchless coffee sodas. But don’t feel like you have to stick to the familiar: folks here are always rethinking the art of coffee.

#3. City House

City House earned a James Beard award for a sleek internationalist take on classic Italian—pork sausage with pho broth, bread gnocchi with rabbit sugo, and delectable pizzas. Word has it they’ve got an amazing Sunday supper, including a southern-style catfish that’s out of this world.

#4 Monell’s in Germantown

Are you looking for a big all-you-can-eat southern dining experience? Monnell’s in Germantown is your stop featuring a 4.8 Google rating. Their dishes include breakfast, lunch, and dinner menus smoked sausage, eggs, biscuit and gravy, skillet fried chicken, fried catfish, stuffed shells, and fried cheese. This place is a destination for both tourist and the locals.

#5. Henrietta Red

Simple elegance is the watchword at Henrietta Red, which offers fine vegan options like cauliflower steak in addition to signature fare like fried oyster sandwiches. In fact, pretty much everything involving oysters is Henrietta Red’s pride and joy.

#6. The Germantown Inn

If you’re thinking about moving to Germantown and want to get a real vibe for the neighborhood, a night or two at the Germantown Inn is not to be missed. This Federal-style two-story home, built in 1865, has been reinvented as a boutique inn. They don’t serve food here—but you’re right in the middle of all the great restaurants, and it’s wonderful to walk home from your meal.