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Tennessee is a sought-after location for investing in short-term rentals due to its range of attractions such as scenic mountains, historical sites, and vibrant music scene, as well as its strong demand from tourists. This guide provides a list of Airbnb property management companies in Tennessee by city.
Top Tennessee Airbnb Management Companies
The best Airbnb management companies in Tennessee include:
- Awning: Best Overall Airbnb Manager
- RedAwning: Best Half-Service Airbnb Management Solution
- Avantstay: Best Luxury Short-term Rental Management Company
- Eagle Property Management: Best For Local Presence
- Cabins for You: Best for Cabin Properties
- RedAwning: Best for Involved Hosts
Top Tennessee Airbnb Management Companies by City
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How We Researched the Top Tennessee Airbnb Management Companies
The criteria we used to select and rank the top Airbnb management companies in Tennessee include:
- Services: We looked at whether a company is a half-service or full-service provider and whether it covers all expected services within each category.
- Pricing: We considered whether an Airbnb property manager has a clear pricing structure covering all services. We also looked at what additional fees hosts will need to pay.
- Value for money: We evaluated whether the provided services and the expected fee offer the best value for money.
- Business model: We investigated whether a company uses the latest real estate technology while retaining human touch, which is crucial in property management.
- Reviews: We took into consideration whether companies have a strong online presence and whether reviews are positive or negative.
- Number of listings: We searched for the Airbnb management companies with the most active listings in the market.
To maximize your vacation rental investments in Tennessee , connect with an Awning property manager now.
How to Choose a Tennessee Airbnb Management Company
Selecting the right Airbnb management company is vital for the success of your vacation rental business, especially in a state like Tennessee with strict regulations and restrictions on short-term rentals. When making this decision, consider the following factors:
- Services: Determine the level of involvement you want in the management of your property, whether you prefer half-service or full-service management. Make sure the Airbnb manager provides the services you need and what you're willing to handle yourself.
- Pricing: Determine your budget for a passive investment experience or extra management help.
- Value for Money: Compare the services and fees of multiple property management companies, including monthly fees and additional charges.
- Business Model: Consider if you prefer a nationwide or local property manager, accountability, and the company's reputation.
- Reviews: Research online reviews from both property owners and guests and talk to local investors using each company.
- Number of Listings in Tennessee: Choose a company with experience in the Tennessee market but not overburdened or understaffed.
When interviewing top choices, ask:
- Are they a local or nationwide company?
- How long have they been managing short-term rentals?
- How many properties do they currently manage?
- Size of their local team?
- In-house or vendor management team?
- Revenue increase in the local market?
- Help with property preparation and licenses/permits?
- Money collection and remittance process?
- Cleaning, laundry, and restocking services?
- Property inspections and maintenance?
- Pool and hot tub management?
- Management fee and additional costs?
- Property management agreement and cancellation process?
- Retention of property reviews if opting out?
Answering these questions will help you select the best Tennessee Airbnb property management company for your needs.
How Airbnb Management Works
There are two broad types of Airbnb property management companies: full-service and half-service.
Full-service property managers are those that take care of all the aspects of owning and running a short-term rental business.
The best full-service Airbnb management companies help investors achieve passive income while boosting performance.
Half-service Airbnb property managers usually focus on listings, marketing, revenue management, guest communication and support, and taxes. Some of them offer to connect property owners with vetted local vendors for the services they do not cover.
Vacation rental property management companies can be national (covering most US markets) or local (focusing on a specific city). Both come with their own advantages and disadvantages.
Property management fees range widely in the US market: between 10% and 50% of revenue, with 20-25% of revenue being the average for full-service providers. Some companies charge different rates for different markets and different property types. Property managers frequently charge extra for services outside the core package, like interior design, furnishing, insurance, linen, etc.
The top vacation rental management companies have flexible terms and do not require long-term commitment on behalf of property owners. However, some expect quarterly or annual commitments.
Some Airbnb property managers focus on specific property types, like luxury rentals, group travel rentals, apartments, etc., while others work with most residential properties. Different companies have different eligibility requirements; for example, half-service property managers work with furnished short term rentals, while some full-service companies prefer to be directly involved in design and furnishing.
One thing property owners should keep in mind is that most Airbnb management companies list rentals under their brand name, so hosts lose the reviews and rankings once they leave. A noticeable exception is Awning, which allows properties to keep reviews.
How to Start an Airbnb in Tennessee
In order to begin an Airbnb venture in Tennessee, prospective investors must:
- Locate the best property location for investment in Tennessee (where short term rentals are permitted, and returns are high)
- Identify a property with high earning potential
- Verify that the zoning regulations permit short term rentals
- Engage a real estate agent to assist with property acquisition
- Undertake any necessary renovations on the property
- Furnish the rental unit
- Determine a suitable business structure
- Submit tax and employer identification paperwork
- Apply for a vacation rental license from the Tennessee Department of Business & Professional Regulation (DBPR)
- Acquire the required local short-term rental licenses and permits by city
- Determine whether to manage the Tennessee vacation rental on their own or to hire a property management company
- List the property on Airbnb and begin accepting guests
- Provide ongoing services to renters and maintain the property
The choice to manage the Tennessee Airbnb property independently or to engage a property manager will impact the level of passive income earned.
Tennessee Airbnb Laws and Regulations
Tennessee has statewide regulations for short-term rentals that apply to Airbnb hosts. Here are some key requirements:
- Registration: Airbnb hosts in Tennessee must register with the state and obtain a permit to operate a short-term rental. Hosts must also provide certain information, such as their name and contact information, and proof of insurance.
- Taxes: Airbnb hosts in Tennessee are required to collect and remit state and local occupancy taxes on any short-term rental transactions. Hosts can register with the Tennessee Department of Revenue to obtain a Sales Tax Certificate and file monthly tax returns.
- Safety regulations: Airbnb hosts in Tennessee must comply with all applicable safety regulations, including fire safety, building codes, and health regulations.
- Zoning and occupancy limits: Tennessee has set certain zoning and occupancy limits for short-term rentals. Hosts should check with their local government to see if there are any specific requirements or regulations in their area.
- Notification requirements: Airbnb hosts in Tennessee must notify their neighbors that they are operating a short-term rental, and provide a local contact person for any issues that may arise during the rental period.
Takeaway
Starting an Airbnb business in Tennessee is a great way to make money in real estate. However, short-term rental property investors in the state need to be aware of the regulations imposed by the state and cities, as well as the strong competition from other investors. To maximize success, optimizing your vacation rental property management strategy is essential, and hiring a professional Airbnb manager is the best way to do so.
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