People hope to cash in with short term rentals during NFL Draft weekend.
In just over two weeks Nashville is expected to have its biggest tourist weekend, the NFL draft, and businesses aren’t the only ones hoping to cash in.
“They’re doing so because it [short term rentals] either brings in that extra revenue for them as homeowner or sometimes if they have an investment property,” said Sean Braisted, of the Metro Codes Department.
Short term rental properties are in high-demand during Draft weekend, many hotels were booked 9 nine months out and rooms that are available, are expensive.
News 2 did a survey of available hotels left downtown, we found rates from $700 up to $1,700 a night.
Brittany Cyr, an East Nashville resident, converted her garage into an Airbnb. She’s booked for almost all of April and NFL Draft weekend.
“It’s a lot to keep up with but it’s what we hoped for the space,” said Cyr.
Metro Codes says there is a demand for short term rentals, but it must be done legally.
“We’ve identified about 1,100 properties that are not compliant with the laws; some of those people are permitted but haven’t paid their taxes properly, but about half of those are people that don’t have permits.”
“If you continue to operate without a permit, then it could be a $50 a day fine and there have been people that have been sent to jail for continuing to violate the law.”