As Nashville grows, developing the right housing to accommodate the influx of new residents can be a challenge. There are a number of reasons for the region’s growth. Among them is the fact that Tennessee leads the nation in small business growth. WalletHub recently ranked Tennessee as the 9th best state in the country for finding a job and 5th in the country for employment growth.
Nashville law firm, Rochford Law & Real Estate Title, releases a comprehensive eBook helping developers and real estate investors better understand the complexities of Tennessee’s real estate law.
Nashville, TN: Rochford Law & Real Estate Title, a well-respected member of the Nashville legal and real estate community, is pleased to announce the publication of the firm’s latest resource for real estate investors and developers. The new eBook, “The Tennessee Horizontal Property Regime: A Guide to the Key Parts of Title 66, Chapter 27” dives deep into Tennessee’s Horizontal Property Act law to offer expert analysis to investors and developers.
As Nashville’s population grows and as the tourism industry continues to blossom, it’s no surprise that property owners are looking to cash in on the boom by renting a room or an entire home through popular online vacation rental sites like Airbnb and HomeAway.
Considering that in 2016, hotel occupancy rates stood at nearly 75% and that from 2010-2015, Nashville was tops in the nation for percentage growth in average daily revenue per room (Tennessean), it also makes sense that visitors to Music City are knocking at your front door (or your neighbor’s).
HPR stands for Horizontal Property Regime. In case you missed our last article on HPRs, we’ll fill you in before continuing onwards.
A Horizontal Property Regime is a legal way to divide a single property into two different properties, which is something that comes into play quite often in cities like Nashville. With Nashville’s economic boom, it has been estimated that as many as 100 people move here every single day.
Enjoying its status as an “it city,” Nashville has been growing rapidly. With its economy in full flux, new businesses and residents arrive in Nashville constantly, and nowhere is this more evident than in residential neighborhoods. Once dicey, urban neighborhoods are now being rapidly gentrified as Nashville’s economy grows and young professionals invest in property.
As neighborhoods change and Nashville becomes more densely populated, many legal real estate issues are being forced to the surface. One such issue is that of horizontal property regimes (or HPRs).
Topics: Commercial Real Estate Law, Duplex, Horizontal Property Regimes, HPR, Nashville, Nashville Real Estate, News, Real Estate Law, Real Estate Lawyers, Real Estate Title, Residential Real Estate Law