With more companies relocating to Nashville, short-term rental (STR) communities have become a good investment and are ideal for corporate stays. Both my development company and my real estate group are currently involved with two such properties.

STRs are a good investment opportunity, often netting two times more than long-term rentals. Nashville STRs are an especially strong investment. Our city is attracting new businesses every month. We are home to 21 accredited four-year and post-grad institutions, three professional sports teams, a minor league baseball team and plenty of musical entertainment.

Owning an STR takes some active work on the front end so you can achieve passive income over time. I strongly recommend you consult with a Realtor who knows the local STR market and laws, like my colleagues Deborah Vahle and Giovanna Burchell who offer some good advice in a recent Style Blueprint article.

Our CityLiving Group real estate team at Village is handling the sales and marketing for two STRs in Nashville’s inner loop neighborhoods.

Located on the West End corridor, these communities are a good home-away-from-home for executives and other out-of-towners who travel to Nashville for business, or for those who need to be close to one of the area hospitals.

Odyssey at the Park and its sister project, Lofts at 30th North, are walkable to Centennial Park, Vanderbilt University, and the Midtown medical campuses. Both are close to dining, shopping, entertainment, and other businesses and attractions in the urban core.

Although currently under construction, all 75 Odyssey at the Park condos sold out as the project was breaking ground. The development has one- and two-bedroom units in a variety of floorplans, with street-level retail and restaurant space, and a parking garage.

The Lofts at 30th North is converting the complex to short-term rental with long-term and corporate rentals permissible. One-third of the 52 one- and two-bedroom loft units have already been sold.

Having a top-rate property management firm is key to owning a successful STR, and it also ensures a safe and comfortable stay for guests.

GoodNight Premium Stays will manage both Odyssey at the Park and The Lofts at 30th North with local onsite staff. The corporate and vacation rental property management company has over 25 years of experience and great corporate relationships with Amazon, Oracle, Vanderbilt and other organizations across the country. It uses intelligent lock systems, decibel noise monitoring, nest cameras and thermostats, and other technology to protect your investment and provide a good guest experience.

STRs are a good investment, but you’ll need to do your homework before jumping into the market. There is a lot of misinformation out there. You can also contact any of our urban real estate experts at The CityLivingGroup and they will set you on the path to STR success.