Nashville, TN: The Music City
With 715,884 residents, Nashville is the most populous city in Tennessee. It also serves as the state capital and as the county seat of Davidson County. Nashville has a prominent music industry, particularly when it comes to country music. As such, it is usually referred to as “Music City” or “Country Music Capital.” Colleges and universities located in this city include Tennessee State University, Belmont University, Lipscomb University, Vanderbilt University, and Fisk University.
Nashville also has a thriving arts and culture scene. Notable attractions include the Tennessee Performing Arts Center, the Tennessee State Museum, the Country Music Hall of Fame and Museum, the Belcourt Theatre, the Grand Ole Opry, the Parthenon, Ryman Auditorium, and the Frist Art Museum. Nashville also hosts a number of cultural events, including the Nashville Film Festival, Nashville Pride, the Tennessee State Fair, and the Rites of Spring Music Festival, among many others. It is also famous for its local cuisine featuring dishes such as barbecue, hot chicken, and hot fish.
Sports also play a significant role in the culture of Nashville. There are three major sports teams that reside in this city: the Tennessee Titans (NFL), Nashville SC (MLS), and the Nashville Predators (NHL). College sports is an equally big deal in Nashville, being the location of the NCAA college football Music City Bowl. Other points of interest include Centennial Park, Radnor Lake State Natural Area, the Nashville Zoo at Grassmere, Andrew Jackson’s Hermitage, Belle Meade Historic Site & Winery, the Bluebird Cafe, and the Johnny Cash Museum & Cafe.
What Is Nashville’s Rental Market Like?
Nashville has moderately affordable real estate. The median listing price for a home in this city is $397,000, whereas the median home value is $239,000. A majority of the city’s residents own their homes. However, renters also make up a significant portion of the population. In fact, 46% of the residents in Nashville rent their homes. Given the large pool of potential tenants, Music City is certainly an attractive place for property investors.
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Additionally, rent in Nashville is on the high side. Landlords stand to earn a good living in this city, with the average rent for an apartment being $1,581. This indicates a 13% year-over-year change. A bulk of apartments command a rental rate between the $1,001 and $2,000 range, though there are also several that charge above $2,000.
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On top of that, Tennessee is known to be a fairly landlord-friendly state. There is a lack of rent control in this state and only a few laws that pertain to housing living standards.
How a Nashville Property Management Company Can Help
Nashville is obviously an attractive market for rental property investors. However, buying a rental property differs immensely from managing one. It demands a lot of time and experience to successfully become a landlord. Most people are just not suited to that sort of work or simply lack interest in rental management. That should not deter you from such a profitable investment, though.
The key to your problems is a Nashville rental management company. With professional management, you can cast away all your worries and expect more free time while earning rental income at the same time. What can a property management company do for you?
- Advertise your listing
- Screen and process tenants
- Oversee property showings
- Set and collect rent
- Create a lease agreement
- Perform move-in, move-out, and routine inspections
- Enforce your lease terms
- Manage maintenance and repairs
- Respond to tenant complaints
- Manage your budget
- Help with tax calculations
- File evictions
In Need of Property Management in Nashville?
If you need a professional property management company in Nashville, Rental Choice is the first place to go. Look for the best companies in your area with the help of our comprehensive online directory. We only list reliable property management companies, so you can rest assured your investment is in good hands.
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