There has been a lot of talk over the last few years about short term rentals in Chattanooga. There has been so much talk and debate the City of Chattanooga and the State of Tennessee has stepped into the conversation. The City of Chattanooga has come up with an approval process that you must complete to be eligible to run a short term rental out of your property.
Flowchart of the Short Term Rental process
This map is for Non-Owner Occupied
So if you have a spare room in your home or you have an investment piece that you want to put it on AirBNB or VRBO and the property address is in the city of Chattanooga there are a few things you need to be aware of.
- Property must fall into the correct zoning
- The property must fall inside of the approved short time rental zone
- The property must go through the approval process with multiple hearings
- The legal property owner or their legal agent must file an application and pay an application fee
Here is the link to the City of Chattanooga page that walks you through the entire process. There are maps for both Owner Occupied rentals and Non Owner Occupied. Make sure that you follow the correct guidelines.
If you are interested in purchasing a home to set up as a short term rental investment opportunity contact us first and we can help you find the right property that will cash flow you the most amount of money. I would also contact your attorney and CPA about the risks and costs tied to owning investment properties.