Do I need a permit to Airbnb my property?
YES, Nashville is a regulated market when it comes to short term rental. If you wish to market,
advertise and rent your dwelling for short term rental, you MUST get a permit. There are 2
different types of permit: Owner occupied (if the dwelling you are renting is your primary
residence) and Non-owner occupied (if it is a secondary residence/investment property).
Each permit MUST be renewed annually, and a $313 fee applies.
Below is a useful video from the Metropolitan Government about the obtention process:
Can Humming Host help us acquire a permit?
Absolutely! The process to get a short term rental permit (STRP) is complex. It can be
overwhelming, and time-consuming. Not all dwellings are eligible for STRPs. You need to make sure the property you are purchasing/owning is eligible before doing anything else. Humming Host can help you verify your property is eligible, and obtain your permit in a timely manner, 100% hassle-free. For that, we partner with a Permit Expediter, who knows all the rules and tricks to get your permit in just a few weeks.
What commission do you charge?
We charge a 17% monthly commission on the Gross Revenue. Gross revenue = Base rate + cleaning fee + extra guest fee + (discounts) + (refunds).
Why do we charge our commission on cleaning? Cleanliness is a critical component to the success of any short-term rental. In addition to training our cleaning partners on each individual property when onboarded, we also conduct cleaning inspections after each cleaning. Please remember that cleaning costs are passed through to the guests.
Will I be able to cover my monthly expenses?
This is one of the most common questions asked by our prospects and clients. The answer is quite simply that it depends. Every specific asset is unique as it relates to its financing, the sub- market it's located in, and its associated expenses. Humming Host is dedicated to protecting and maximizing the value of its clients assets in any macroeconomic environment.
Humming Host provides a pro-forma service whereby it will build out an asset’s Income
Statement to project Net Operating Income and cash flow provided key assumptions. The
service is available to prospects considering the purchase of an asset or clients who already
have an asset for a small fee.
What does the commission include?
We provide a turnkey service, including, but not limited to:
- Sales and Pricing strategy: we present a yearly budget to the owner prior to opening
the property, with a base price (Average Daily Rate), minimum rate (under which we
won’t rent), Revenue and occupancy goals.
- Listing the property: we market your property on the relevant platforms depending on
the clientele you want to target, and we apply promotions when suitable.
- Guest relations: we deal with the guests, you don’t: inquiries, special requests,
questions about the property, issues during the stay are addressed in a timely manner to
ensure a best-in-class experience to the guest, and a hassle-free investment for the
owner. Our team is available 24 hours a day, 7 days a week, 365 days a year.
- Inventory: we manage inventory of supplies, we restock the property after each stay, we
order supplies as needed. For that, we charge a $20 or $25/turn, depending on the
property size.
- Inspections & maintenance: we clean/change air filters, tidy up furniture, and we take
care of small repairs. If a more serious issue needs to be addresses, we ask for the
owner’s approval before fixing.
- Cleaning and Laundry: we coordinate cleanings, and work with a professional
company to ensure optimum quality and efficiency. We are able to access same-day
bookings thanks to efficient standard operating procedures.
- Accounting: we collect and remit sales tax, city tax and hotel tax on your behalf. Every
month, we send an owner statement showing Gross revenue and expenses, as well as
the payout amount for that month. We provide a P&L statement for tax purposes.
- Dedicated host and property manager: guests have a dedicated host to assist them
before, during and after their stay; owners have a dedicated Property Manager to help
them with every aspect of their property investment, from acquiring a permit to
maintaining their asset, and to help reaching their financial goals.
Frequently Asked Questions
KING-SIZE BEDS
Guests who are used to traveling in hotels value king size beds. Properties with king size beds rent better than their counterparts with queens or twins.
SHOWERS
Modern, clean, high pressure showers with plenty of hot water are mission critical to any short-term rental. Tubs are not mandatory in short-term rentals. If provided the choice, a shower with all the bells and whistles is a much better investment.
HIGH-SPEED INTERNET
High-speed, secure, uninterrupted wifi has become an absolute staple following the pandemic. Many guests in short-term rentals work from home and rely on this service to conduct day-to- day activities.
PETS
Pet friendliness can be a major differentiator for both short and long-term stays, however, this is more important to long-term guests.
OUTDOOR AREA
Outdoor space is an outstanding amenity here in Nashville due to our beautiful weather specifically in the Spring and Fall when temperatures often hover in the 60s and 70s. An outdoor terrace, deck, or patio creates a clear differentiation when advertising your short-term rental.
DINING
Larger dining areas are also quite important here in Nashville. Many short-term rental units do not have them, however, they remain in high demand specifically around the Holidays. Guests often want to host family or friends that may live in small apartments for a Holiday meal.
TELEVISIONS
Televisions in every bedroom are key. Provided the price of televisions today, this is a small investment for a high return. One of the top questions asked of us about a unit is - “is there a TV in every bedroom?”
HOT TUBS
A hot tub, Scandinavian Bath, or Jacuzzi, although not essential, can uniquely position your short-term rental. These are rare in the Nashville market, however, they can be a gamechanger in terms of rentability. In addition, Humming Host can service these after each stay.
GRILL
If the HOA allows it, and you have the space for it and natural gas available at the property, this is a great amenity to offer, especially for people traveling in groups.
GAMES
For larger properties, board games, ping pong tables, shuffle boards, karaoke, photo booths, or pool tables really provide a unique plus to your short-term rental.
FAMILY AMENITIES
Cribs, high chairs, baby dishes and books for kids are great amenities to provide if you want to attract families to your property. Humming Host highly recommends having “baby packages” on hand to cater to families should they book your unit for a stay.
DEDICATED WORK SPACE
In the post-Covid World, more people are adopting a nomadic lifestyle permitting them to travel, and work, combining business and leisure. Having a desk with an ergonomic chair, and a computer monitor, will be crucial to attracting this clientele (one of the most sought after clientele in the short-term rental market).
What are the key amenities that help increase the ROI?
Absolutely, we love helping you design your place!
Humming Host partners with local interior designers/decorators to present you design options to maximize the return on your short-term rental investment. Our partners focus on short-term rental assets and understand the essentials for short-term rental clientele while also keeping our cleaning teams in mind as they must oten expedite cleanings.
We provide you with two (2) service options should you choose to design your asset with Humming Host.
First, our consultation service whereby we conduct an in-person or virtual discussion with you about your vision and budget for the asset. We then build out a moot board, color palette, and master shopping list for you. We can also make recommendations on professional services such as handymen, artists, painters, etc.
Second, our turnkey service. In this case, we conduct a consultation service and with your approval, purchase any furniture, fixtures and equipment, followed by coordinating any professional services including deliveries, installations, set-up, etc.
Does Humming Host help with the design/furnishing?
We can offer photography services so that we can take beautiful snapshots of your property following any renovations or refreshes. These photos are then shared with you and used by the Humming Host team to market your property on various platforms.Photos are extremely important. It is the first thing people look at, before reviews. You want to catch the guest’s attention with beautiful images taken with the right angle, the right light, and the right warmth to show an inviting, clean and comfortable space.
Does Humming Host help with photography of the property?
As with any investment, more risk is more reward. No difference here! Undoubtedly short-term rentals present more risk than long-term rentals, however, the rewards are also significantly higher!
Humming Host manages a combined portfolio of both monthly and short-term rentals. We are experts in both markets. In some cases, having a hybrid strategy that combines monthly and short-term rentals can be beneficial to value realization. Nashville is a seasonality-driven market, the winter being the low season, the summer and early autumn months being the high season. Depending on the location of your asset and your strategy, monthly rentals may be a good option during the low season.
Monthly rental vs. short term rental - what is best for me?
Humming Host is a Boutique short term rental company that focuses on sustainability, and guest experience. We strongly believe that if we take good care of a place, guests will respect it, and owners will reach their financial goals. It is not rocket science, but it requires attention to detail, passion, and dedication.
Humming Host is the right partner for you if you are investing in an Airbnb not only to generate revenue, but also to provide a best-in-class experience to guests who are traveling to Nashville for work, to visit their family, or to explore the City. We do much more than just flip a property: we create a homey atmosphere for each house, and we take care of it as if it was our own. Our guest-centric and sustainable approach allows us to be a top-rated Property Management Company in Nashville, but also to be among the 90th percentile of properties in Nashville in terms of KPI.