The end may be near, but the fight is not over
Last week, the Metro Nashville Planning Commission voted to move forward (without any amendments) the bill that will ban all permits for Non-Owner Occupied Short Term Rental Properties on any property that is zoned residential.
You may know these Short Term Rental Properties [STRPs] as AirBnB or VRBO rentals.
Here’s a link to the bill in it’s current format:
While this bill has not passed all three readings of the Metro Council, Zoning and Codes started enforcing this pending legislation immediately.
No new permits for Non-Owner Occupied STRPs on properties with residential zoning will be issued at this time.
Current owners with Non-Owner Occupied STRPs are grandfathered under the pending legislation. However, their permits will not be renewed after June 28, 2019.
The State of Tennessee is also considering legislation that might nullify these actions.
So the end is near for these type of investments in Nashville, but the fight is not over.
Here’s what you can do to show your support for these type of investment properties.
In order to become law, the bill must pass three readings of the Metro Council. The second reading is scheduled for tomorrow night, and it’s at this reading that they take input from the public.
Please join us on Tuesday, May 2nd at the Historic Metro Courthouse at One Public Square. The meetings start at 6:30pm, though you might want to get there early as I am expecting a huge crowd.
Meeting are also broadcast live on Comcast (Ch. 3), AT&T (Ch. 99) and through Metro’s livestream.
Back in February, the Board of Directors of the Greater Nashville Realtors asked the Metro Council to pursue proper enforcement of the current laws before deciding to eliminate these type of investment properties.
Metro had not been effectively enforcing the current law because of staffing issues in Codes and the lack of software to monitor the advertising of these properties on the various websites.
If you can’t join us, hit reply and let me know where you stand on this subject. I promise to share your views at the meeting tomorrow.
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