If you are renting out a home or renovating a property in Nashville, you’ll have to make some decisions about aesthetics and functionality. You’ll have to decide how to appeal to tenants, capitalizing on the strengths and unique features of your rental. The market is crowded and tenants are smart. Make sure you’re providing a home they want to rent.
Like most southern cities, Nashville has a rich history. The architecture found in some of the historic homes here is a glimpse into the past, and a lot of buyers and renters are drawn to that historic sense and charm.
But, most tenants today also want modern conveniences. This sets up a unique challenge when you’re deciding what to do with your investment property. Are you more committed to preserving the historical appeal of your rental properties, or are you willing to sacrifice some of that in order to offer modern conveniences to your tenants?
Is it possible to do both?
This balance is not merely about keeping up with the competition and earning more in rent while attracting high-quality tenants. It’s also about honoring the history and culture of Nashville, and providing a well-maintained, habitable, and functional home for your tenants.
Balancing History and Modernity
Nashville became a city in 1806. It has more than two centuries of history, architecture, art, culture, recreation, music, and housing. As a real estate investor in Nashville and a rental property owner in a city such as this, you are tasked with respecting that history while also meeting the needs and the demands of the current housing market. There are a lot more people looking for homes now than there were in 1806. While you want to maintain the character and charm that are part of Nashville’s history, you also want to provide the type of housing that people in Nashville need.
We’re in a period of time where convenience is everything. Tenants want technology, they want energy-efficiency and sustainability. They want pets and they want space, especially if they’re remote workers or moving in with an entire family. You’ll need to maintain historic character even while you modernize your rental home.
You don’t necessarily want to tear down the history of a building or a home in order to facilitate video doorbells and stronger WiFi. But there has to be a balance between historic charm and modern comforts.
Tips on Preserving Historical Charm
Here’s what we’re talking about when we discuss holding onto the history of some of Nashville’s oldest and most beautiful homes, neighborhoods, and buildings.
Respect the Architecture
- Maintain the original architectural elements when you can, especially if they showcase the property’s era.
- When making repairs and upgrades, contract with experts who have access to restorative methods that retain the building’s character while reinforcing its structure.
Keep the Decor Appropriate for the Property’s Period
- Highlight features like exposed brick or original hardwood floors. Not only does this preserve the history of your property, but it also appeals to tenants who are looking for special décor and unique finishes and features.
- Use antique or vintage fixtures and elements that complement the historical theme. When you’re replacing drawer pulls and cabinet knobs, for example, don’t go straight to the shiny, modern nickel. Choose something that looks older but still functions in a way that’s easy and modern.
If you’re investing in a property that’s historic or special to the city, you may want to partner with local historians to get a deeper appreciation of what you’ve purchased.
Integrating Modern Amenities in Your Nashville Rental Home
Keep the historic condition intact as much as you can. But, make sure there are enough modern amenities and conveniences that attract today’s tenants.
Seamless Technology Integration
- Make sure the property can accommodate high-speed internet and Wi-Fi that does not impede the integrity of your historic home.
- Include smart home features like thermostats and keyless entry systems that blend into the decor unobtrusively.
Provide Modern Comforts
- Upgrade bathrooms and kitchens with contemporary fixtures that provide functionality and style.
- Ensure heating and cooling systems are efficient and effective, providing a comfortable environment year-round. Have these systems inspected by service technicians who have experience with historic homes.
- Provide modern appliances that match the property’s aesthetic and history. Retro-style fridges or ovens with a nostalgic design but modern performance.
Best Practices for a Successful Balance
Balancing a commitment to history with modern amenities requires thoughtful planning and execution. You’ll want to conduct thorough research so you can understand both the history of your property and the latest trends in rental amenities. You’ll want to consult with experts such as architects, designers, and local historians who can provide valuable insights and help you make responsible renovations and repairs.
Blending historical details with modern and present-day essentials is something that won’t necessarily be easy but is absolutely possible. This effort will set your Nashville rental property apart from competing homes on the market. Not only will you offer tenants a distinctive and special rental home, you’ll also be playing a part in preserving the history of your rental property’s neighborhood and the entire community.
For property owners, the path to achieving this balance will involve creativity, respect for the past, and an understanding of today’s tenants.
If you’re investing in a historic Nashville rental property, you have an opportunity to celebrate Nashville’s heritage through your investment. Your property can tell a story about Nashville’s past and present.
You can benefit from the resources and knowledge of a Nashville property management partner. If you’d like to talk to us about how to protect the historical elements of your rental property without sacrificing the amenities and modern features that tenants want, contact us at TCS Management. We’d be happy to talk about your property and what kind of potential comes with it.
TCS Management is a full service property management company headquartered in Philadelphia, Pennsylvania, also serving Cherry Hill, NJ, Wilmington, Delaware, Nashville, Tennessee and the surrounding areas. We focus on single-family and multifamily residential property management of homes, condos, townhomes, and apartment buildings.
