Memphis, TN

What are the STR Laws

Look at market: bedrooms, amenities, etc

Look for the top performing properties of the bedroom counts interested in: top 2 categories in pricing

What do they look like? Style, design

Where are they located?

Amenities

Setup a search on zillow with what found

Is this an area we want to pursue? If yes look for realtor on Bigger Pockets

STR Laws

Obtain a Short Term Rental Property Permit from the City of Memphis Permit Office

Provide proof of fire, hazard, and liability insurance coverage of at least $1 million

Designate a responsible agent who lives within 50 miles of the property and can respond to any issues

Follow local laws including safety, building, and health codes

Submit a site plan that includes the maximum number of people who can stay each night

Verify that the unit complies with building, health and life safety code provisions

Again lowest competition is 4+ bedrooms

4: 10%

5: 7%

Amenities

pool 7%

hot tub 3%

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271.9k: on river, downtown, 6br 16 guests⁠

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261k: a gift elvis gave his doctor. that’s it.⁠

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