2022 Awards

Posted by Jason White on

We are pleased to announce that we recently won several prestigious awards for production in 2022!

The awards include the Grand Centurion award, the #8 Century 21 Team in the World, and #1 in Century 21 Team in Tennessee.

“We take great pride in providing outstanding service to our clients, along with unique market insight and analysis.  In return, we get to meet some very successful and intelligent people, from whom we also learn a great deal. Working with the excellent human beings on our team is a great pleasure. Sometimes it doesn’t even feel like work.  We are very lucky to have found this career and each other.”

– Jason White

Winning these awards is a significant accomplishment and a testament to our ongoing commitment to providing exceptional service to our clients!

Short Term Rental Property Tax Increases in Sevier County, Tennessee

Posted by Jason White on

If you own a short-term rental property in Sevier County, Tennessee, you should be aware of a recent decision by the county board of commissioners that will increase the property tax rate on these rentals. The decision affirms a 2021 state law that changes the property tax assessment rate for all short-term rentals from a 25% residential classification to a 40% commercial classification. 

 

This will impact over 10,000 short-term rental properties in Sevier County, including those listed on platforms like Airbnb and Vrbo.

 

The county spokesperson has confirmed that this decision affirms a state law that went into effect in 2021 and subsequent guidance from the state Comptroller’s office. The law stipulates that properties used as short-term rentals are classified as commercial properties unless certain exemptions are met. Essentially, properties with a business license that are a short-term rental and not the owner’s principal residence will be subject to the change in classification.

 

Out of approximately 13,000 identified overnight rentals in Sevier County, 2,500 were already being assessed at the 40% rate prior to the resolution. A rental cabin with an appraised value of $500,000 would go from paying $1,850 in annual property county tax to $2,960. The increase is approximately $222 per $100,000 of appraised value on short-term rentals. This increase will generate an estimated $8 million of new revenue for the county.

 

With a county property tax rate of $1.48 per $100 of assessed value, Sevier County maintains one of the lowest property tax rates in Tennessee. 

 

Despite this increase in property tax for short-term rentals, on average, short-term rentals across Sevier County are undervalued by over 53% since the last reappraisal in 2021, according to Sevier County Director of Public Affairs Tyler Basler.

 

The changes will be reflected on tax bills scheduled to go out in October 2023. The image below is the assessment change notice you should receive, If you own a short-term rental in Sevier County, Tennessee.

 

It is important to be aware of these changes and budget accordingly to avoid any unexpected costs.

This information was provided by WATE. You can read the news article here.

Interested to learn more about Sevier County and the surrounding areas property tax rates, click here to do so!




The Lifespan of Appliances for Rental Properties: What to Expect and How to Plan Ahead

Posted by Jason White on

As a short-term rental property owner, it’s essential to understand the lifespan of the rental property appliances.

 

 Knowing how long these items typically last can help you plan for repairs and replacements, ensuring your guests have a comfortable and safe stay. In this blog, we’ll provide an overview of the major appliances found in short-term rentals, their typical lifespan, factors that can affect their lifespan, and signs that you may need to begin buying appliances for your rental property. 

 

HVAC System

The HVAC system is responsible for heating, ventilation, and air conditioning in your rental property. HVAC systems can last anywhere from 10 to 25 years, depending on factors such as proper maintenance, frequency of use, and the type of system. Signs that your HVAC system may need repair or replacement include unusual sounds, strange smells, and inconsistent temperatures throughout the rental.

 

  • Lifespan: 10-25 years 
  • Factors that affect lifespan: maintenance, frequency of use, and type of system
  • Signs you may need to replace the HVAC for your rental property: strange smells and inconsistent temperatures 

 

Water Heater

The water heater provides hot water to your guests for their daily needs, such as showering and washing dishes. The typical lifespan of a water heater is 8 to 12 years, although proper maintenance can extend its life. Signs that your water heater may need repair or replacement include a lack of hot water, unusual sounds, and water leaks.

 

  • Lifespan: 8 – 12 years 
  • Factors that affect lifespan: maintenance 
  • Signs you may need to replace the water heater  for your rental property: leaks or lack of hot water 

 

Refrigerator 

The typical lifespan of a refrigerator is 10 to 18 years. Many things can impact the lifespan of your refrigerator, such as quality of the appliance, frequency of use, maintenance, and power surges. Signs that your refrigerator may need repair or replacement include unusual sounds, difficulty starting, and inconsistent temperature or water flow.

 

  • Lifespan: 10-18 years 
  • Factors that affect lifespan: quality of appliance, frequency of use, maintenance 
  • Signs you may need to replace the water heater  for your rental property: unusual sounds, difficulty starting, and inconsistent temperatures or water flows. 

 

Stove 

 

The typical lifespan of a stove can vary depending on the type of stove, the frequency of use, and how well it is maintained. However, on average, a gas or electric stove can last anywhere from 10-15 years with proper maintenance and care.

 

If your stove is not heating properly, doesn’t light well, you notice rust or corrosion or worn out parts – these may all be signs you may need to begin thinking about buying a new stove for your investment property.

 

  • Lifespan: 10 – 15 years 
  • Factors that affect lifespan: frequency of use and how well its maintained 
  • Signs you may need to replace the water heater  for your rental property: uneven heating, difficulty lighting, rust, broken or worn out parts. 

 

Dishwasher

 

The lifespan of a dishwasher can vary depending on the type, brand, and model of the appliance, as well as how well it is maintained. On average, a dishwasher can last anywhere from 7 to 12 years with proper care and maintenance. Signs that you may need to replace your dishwasher are leaks, strange noises, and poor cleaning performance. 

 

  • Lifespan: 7 to 12 years 
  • Factors that affect lifespan: care and maintenance 
  • Signs you may need to replace the water heater  for your rental property: leaks, noise, and poor cleaning performance 

 

Washer and Dryer

Providing a washer and dryer for your guests is a convenient amenity that can help increase bookings. The typical lifespan of a washer and dryer is 10 to 14 years, but proper maintenance can extend their life. Signs that your washer and dryer may need repair or replacement include unusual sounds, a lack of function, and leaks.

  • Lifespan: 10 to 14 years 
  • Factors that affect lifespan: property maintenance 
  • Signs you may need to replace the water heater  for your rental property: lack of function and leaks 

 

Other Systems and Appliances

Other systems and appliances found in short-term rentals, such as smoke detectors and air purifiers, can vary in lifespan. Smoke detectors should be replaced every ten years, while air purifiers can last up to five years. Proper maintenance and regular testing can help ensure these items are functioning correctly.

 

Understanding the lifespan of the various systems and appliances in your short-term rental property is crucial for maintaining the comfort and safety of your guests. 

Regular maintenance and replacement of these items can help prevent unexpected breakdowns and keep your rental property in top condition, renting consistently with no unexpected downtime.

 We recommend consulting with professionals for maintenance and repairs to ensure the longevity of your property’s systems and appliances. Read more about how to keep your investment property in tip top shape here! 

March 2023 Sevier County, TN Real Estate Statistics

Posted by Jason White on

Average price saw an increase to $698,263, down from $713,446 in March of 2022.

  • February 2023 – $641,572
  • January 2023 – $735,033
  • December 2022 – $829,234

Properties spent an average of 60 days on the market, down from 70 in March of 2022.

  • February 2023 – 77
  • January 2023 – 68

Price per square foot saw another slight increase to $401 per square foot, which is higher this year, than in March of 2022 where it sat at $390.

  • February 2023 – $395
  • January 2023 – $373
  • December 2022 – $369

 

Sevier County Market Statistics for Land

The average price for land/lots saw an increase to $161,225, up from $118.394 in February, and 56% higher than last March’s average price, which was $103,213.

The average days on market saw a decrease to 175, up on 4% to last March at 168 days on the market.

Annual Police Department Reports: Sevierville & Pigeon Forge

Posted by Jason White on

 

If you’re considering investing in a short term rental property in these areas, you may be wondering about the safety and security of the neighborhoods and the involvement of the police force inside the communities. 

Fortunately, both the CIty of Sevierville and the City of Pigeon Forge release an Annual Report which give us details about crime trends, community involvement, organizational charts, expenditure, and other updates.

 

Below are crime statistics for 2022 and beyond for both the City of Pigeon Forge and the City of Sevierville 

 

Pigeon Forge 

City of Sevierville

 

Police community engagement is a proactive approach to policing that emphasizes collaboration and partnership-building between law enforcement officers and the communities they serve. This can help to improve communication and reduce crime 

Here’s what both departments had to say about community involvement. 

 

Pigeon Forge

“In 2022 we continued to maintain a slim but healthy community outreach. We participated in just under 50 events. It was important to us that our community see us as active and willing to engage. We used every opportunity to meet new people, strengthen existing relationships, educate the public on safety and listen to our community members.”

 

City of Sevierville

“The Community Resource Unit is composed of one Lieutenant, one Sergeant, one bomb detection K9 team, two officers, and six reserve officers. There was a vacant officer position which was filled in December. This unit is responsible for special events, problem areas, senior housing complexes, government housing complexes, public education, as well as all safety and prevention programs.

 

City of Sevierville Special Event Hours:

Special Event Hours 2,185
Security Detail Hours 440
Meeting Hours 101.5
School Resource Hours 204
Patrol Hours 192
Training Probationary Officer Hours 88
Number of Government Housing Background Checks 288

 

You can read the City of Sevierville Police Department Annual Report here.

You can read the City of Pigeon Forge  Police Department Annual Report here. 

 

3 Common Pests Found in East Tennessee Short Term Rentals and How to Prevent Them

Posted by Jason White on

As a short-term rental property owner in East Tennessee, it is important to prevent pest infestations. Pests not only damage your property, but they can also negatively impact your guests’ experience. In this blog post, we will explore how to prevent their infestations in short-term rental properties.

East Tennessee’s warm and humid climate provides an ideal environment for various pests to thrive, including flying insects. Some common insects found in short-term rentals in East Tennessee are:

  • Carpenter bees are a common pest found in East Tennessee homes. They look similar to bumblebees but can cause significant damage to wooden structures, including decks, fences, and outdoor furniture. 
  • Carpenter ants are another common pest found in East Tennessee homes. They can cause significant damage to wooden structures, including walls, floors, and furniture. 
  • Eastern subterranean termites are a common pest found in East Tennessee homes. They can cause significant damage to wooden structures, including walls, floors, and foundations. These termites live in the soil and feed on wood, so it’s important to maintain proper moisture control to prevent infestations. 

It’s important to address any pest infestations in your home promptly to prevent damage and avoid further costly repairs.

Regular cleaning, maintenance, and inspection practices are essential to prevent pest infestations in short-term rentals. 

Below are some tips to help keep insects away:

  • Seal entry points and install screens on doors and windows. Gaps and cracks in walls and doors allow insects to enter.
  • Close doors and windows when not in use to prevent insects from entering.

In addition to regular cleaning, maintenance, and inspection hiring a professional pest control service can help eliminate pests and prevent future infestations. 

Benefits of hiring professional pest control services are:

  • Experienced technicians who can identify and eliminate pests effectively.
  • Customized treatment plans to address your property’s specific pest problems.
  • Regular inspections to prevent future pest infestations.
  • Pest control companies may set up pest monitoring stations to detect any signs of pest activity before a full infestation occurs.

Pest control companies can help prevent future infestations and keep your property pest-free. It’s important to work with a reputable and experienced pest control company to ensure that they use safe and effective methods to prevent pest activity.

Preventing pest infestations in short-term rentals in East Tennessee is crucial to ensure the comfort and safety of your guests. By following the preventative measures discussed in this blog post and utilizing professional pest control services, you can keep your property pest-free. 



Property Owners: How to Keep Your Short-Term Rental Property in Great Condition

Posted by Jason White on

Owning a short-term rental property can be a great investment, but it comes with its own set of challenges.

One of the most important aspects of owning a short-term rental property is maintaining it properly.

A well-maintained property can provide a positive experience for guests and increase the property’s value. 

In this blog post, we will discuss some tips for keeping your short-term rental property in tip-top shape!

 

Maintenance

Creating a maintenance plan is an essential step in keeping your short-term rental property in great condition.

As a short-term rental property owner, it is essential to regularly inspect your property to ensure that it is in good condition for guests. By addressing issues promptly, you can minimize the impact they have on your guests and prevent them from becoming larger, more expensive problems. Here is a list of inspections that you should complete on your short-term rental property:

 

  1. Electrical system inspection: The electrical system should be inspected at least once a year to ensure that it is in good working order. This inspection should include checking outlets, light fixtures, and the circuit breaker box.
  2. HVAC system inspection: The HVAC system, including air conditioners and heaters, should be inspected and serviced at least twice a year to ensure that they are working efficiently .
  3. Roof inspection: The roof should be inspected at least once a year to ensure that there are no leaks or other issues that could cause damage to the property.
  4. Exterior inspection: The exterior of the property should be inspected regularly to ensure that there are no issues such as cracks, leaks, or other damage.
  5. Interior inspection: The interior of the property should be inspected regularly to ensure that there are no issues such as leaks, cracks, or other damage. This inspection should include checking for water damage, mold, and pest infestations.
  6. Smoke detector and carbon monoxide detector inspection: Smoke detectors and carbon monoxide detectors should be inspected at least twice a year to ensure that they are in good working order.
  7. Fire extinguisher inspection: Fire extinguishers should be inspected at least once a year to ensure that they are in good working order.

If you are an out of state owner your property management company will likely help you complete any inspections necessary to maintain the integrity of your home.  

 

Cleaning

Cleaning is an essential part of maintaining a short-term rental property. A clean property can make guests feel comfortable and help them enjoy their stay!

Regular cleaning between guests is essential to maintain a short-term rental property’s condition and ensure that it is safe and hygienic for guests. It is also important to clean and sanitize high-touch areas such as door handles, light switches, and remote controls.

Deep cleaning should also be done regularly to prevent future issues and maintain the property’s overall condition. 

 

Repairs 

It is important to address any repairs or maintenance issues promptly to prevent them from turning into larger problems. Be sure to keep a list of reliable contractors on hand for any necessary repairs that require a professional.

  1. Plumbing issues: Plumbing issues such as clogged drains, leaking pipes, and broken toilets are common in rental properties. These issues should be addressed as soon as possible to prevent further damage to the property.
  2. Electrical issues: Electrical issues such as faulty outlets, broken light fixtures, and malfunctioning appliances can be dangerous if left unaddressed. These issues should be fixed as soon as possible to ensure guest safety. HVAC system issues:
  3. HVAC systems such as air conditioners and heaters may need repairs if they are not functioning properly. Appliance repairs: Appliances such as refrigerators, ovens, and dishwashers may need repairs from time to time. These repairs should be addressed promptly to prevent further damage to the appliance and ensure guest satisfaction.
  4. Roof repairs: Roof leaks and other roofing issues can be expensive to repair if left unaddressed.
  5. Flooring repairs: Flooring issues such as torn carpeting or cracked tiles can make the property appear unkempt and may be a safety hazard. These issues should be addressed as soon as possible to ensure guest safety and maintain the property’s appearance.
  6. Painting and drywall repairs: Paint chips and drywall damage can make the property look shabby and worn. These repairs should be addressed as soon as possible to maintain the property’s appearance.

 

Landscaping

Maintaining the outdoor space of a short-term rental property is just as important as the inside. A well-maintained outdoor area can create a positive first impression for guests. 

Keep the lawn trimmed, bushes trimmed, and remove any debris or garbage. 

Regularly check outdoor lighting to ensure that the space is well-lit and safe for guests.

 

Maintaining a short-term rental property is essential for both the guest’s experience and the property’s value. By creating a maintenance plan, cleaning regularly, addressing repairs and maintenance issues promptly, and maintaining the outdoor space you can keep your property in great condition.



February 2023 Sevier County Real Estate Market Statistics

Posted by Jason White on

Homes

We saw another large drop in average price to $641,572, down $735,033 in Janaury 2023 and $829,234 in December 2022.

Properties spent an average of 77 days on the market, a slight increase from 68 days on the market in January 2023.

Price per square foot saw another slight increase to $395 per square foot in February 2023, up from $373 in January 2023 and $369 in December 2022.

The average price for land/lots saw an decrease to $118.394, a

 

Land

The average price for land/lots saw an decrease to $118.394, a decrease from $158,542 in January 2023, but higher than the average price in December 2022 at $102,244. The average days on market saw a large increase to 292 days.

 

 

What You Need to Know: Tree Removal and Liability

Posted by Jason White on

Tree Removal and Liabilities - What you need to know

Trees are an important part of our natural environment, but must be properly maintained or they can pose a risk to nearby buildings and properties.

In this blog post, we will answer some of the most common questions people have about tree removal and liability for damage to neighboring properties.

 

Who is responsible for tree removal cost?

The responsibility for the cost of removing a tree depends on a number of factors, including 

  • the reason for the removal 
  •  the location of the tree.

If the tree is on private property and needs to be removed for reasons of safety or health, the property owner is generally responsible for the cost of removal. If the tree is located on public property, such as a sidewalk or park, the cost of removal may be the responsibility of the municipality or other public agency.

 

I’m not sure a tree is mine, how can I find out?

The University of Tennessee Extension Institute of Agriculture published an article on Tree Owner’s Rights and Responsibilities. You can view it here.

 

What steps should I take to prevent tree-related damage to my neighbor’s property?

To prevent tree-related damage to your neighbor’s property, you should regularly inspect your trees for signs of disease or damage, and have any necessary maintenance or pruning done by a qualified professional. You should also be aware of any potential risks posed by your trees, such as overhanging branches or weak roots, and take steps to mitigate those risks.

 

Can my neighbor make me remove my tree if it is causing damage to their property?

If a tree on your property is causing damage to your neighbor’s property, your neighbor may ask you to remove the tree. In some cases, your neighbor may be able to take legal action to compel you to remove the tree if it is posing a significant risk or if it is causing significant damage to their property.

 

What types of damage can a tree cause to neighboring properties?

Trees can cause a range of damage to neighboring properties, including damage to buildings, fences, and other structures, as well as damage to landscaping, vehicles, and other property.

 In extreme cases, falling trees can also cause injury or death.

 

What happens if a tree falls on my neighbor’s property and causes damage?

If a tree on your property falls and causes damage to your neighbor’s property, you may be held liable for the cost of the damage. 

Liability will depend on a number of factors, including the cause of the tree’s fall and whether or not you knew or should have known that the tree was at risk of falling.

 

Can my neighbor sue me if my tree damages their property?

Yes, your neighbor may be able to sue you if your tree damages their property. 

However, liability will depend on a number of factors, including the cause of the tree’s fall and whether or not you knew or should have known that the tree was at risk of falling. 

If the tree fell due to natural causes, such as a storm or other act of nature, you may not be held liable. 

However, if the tree fell because it was diseased, damaged, or otherwise unstable, and you knew or should have known about the risk, you may be held liable for the cost of the damage. 

It’s important to note that liability for tree-related damage can be a complex issue, and may depend on local laws and regulations, as well as the specific circumstances of each case. 

If you are facing a legal dispute related to tree-related damage, it’s recommended to consult with a qualified legal expert.

 

Is it necessary to obtain permission from my neighbor before removing a tree?

In most cases, you do not need to obtain permission from your neighbor before removing a tree on your property. However, it is a good idea to inform your neighbor of your plans and discuss any potential concerns they may have.

 

What are the legal requirements for tree removal in my area?

The legal requirements for tree removal vary depending on the location and the specific circumstances. In general, it is a good idea to check with your local municipality or other relevant authorities to find out what the legal requirements are in your area.

To find out more information about the specific regulations in your area, we recommend contacting your local municipality. Here are some contact details for local municipalities:

Sevier County

Sevierville 

Gatlinburg 

Pigeon Forge

If I own a home in Sevier County, who can help me with tree removal?

The city of Gatlinburg provided a list of tree trimming and removal experts, you can find it here.

As a property owner, it’s important to take steps to maintain and manage your trees to prevent damage to neighboring properties and minimize liability for tree-related accidents. 

Regular inspection and maintenance by qualified professionals can help identify and address potential risks posed by your trees, and communication with your neighbors can help avoid disputes and legal action. If you are facing a legal dispute related to tree-related damage, it’s recommended to seek legal advice to better understand your rights and responsibilities. 

By being proactive and responsible, you can enjoy the benefits of trees on your property while minimizing the risks and liabilities they may pose.

 

*It’s important to note that the information provided in this blog post is for general informational purposes only and should not be construed as legal advice. While we have made every effort to provide accurate and up-to-date information, we cannot guarantee the accuracy or completeness of the information provided. 

 

What are easements?

Posted by Jason White on

Easements are an important legal concept in real estate.

They allow one party to use a portion of another party’s land for a specific purpose. Easements can be beneficial to property owners, but they can also create potential conflicts and liabilities that buyers and sellers should be aware of. In this post, we’ll explore what easements are, the different types of easements, and what they mean for property owners.


What is an Easement?

An easement is a legal right that allows a person or entity to use a portion of someone else’s property for a specific purpose. Easements can be granted by property owners to other parties, or they can be imposed on a property by a court or government agency. Easements can be permanent or temporary, and they can be exclusive or non-exclusive, meaning that the easement holder may or may not have the sole right to use the land.


Types of Easements

 

There are several different types of easements, each with its own purpose and legal requirements. We’ll cover a few different types of easements below: 

  1. Utility easements: These easements allow utility companies to access a property for the purpose of installing, maintaining, or repairing utility infrastructure, such as power lines, gas lines, or water pipes.
  2. Access easements: These easements provide access to a property that would otherwise be landlocked, meaning that there is no direct access to a public road or thoroughfare.
  3. Conservation easements: These easements are used to preserve natural resources or wildlife habitat on a property, and they typically limit the type and amount of development that can occur on the land.
  4. Recreational easements: These easements allow public access to a portion of a property for recreational purposes, such as hiking, hunting, or fishing.
  5. Easements of necessity: These easements are granted by a court to provide access to a property that would otherwise be inaccessible due to geographic or other physical constraints.

 

What are the limitations and risks?

While easements can be beneficial to property owners, they can also create potential conflicts and liabilities. Here are a few things that property owners should be aware of when dealing with easements:

  1. Maintenance and repair responsibilities: In most cases, the property owner is responsible for maintaining and repairing any portion of the property subject to an easement. This means that property owners should be aware of any potential costs or liabilities associated with maintaining and repairing the easement.
  2. Access limitations: Easements can limit the owner’s ability to use or develop a portion of the property, so it’s important for property owners to understand the scope and limitations of any easements on their land before making any plans for development or use.
  3. Liability risks: Property owners who grant easements to others may be liable for any damages or injuries that occur on the easement, so it’s important to understand the potential risks and liabilities associated with the easement before granting it.
  4. Property value: Easements can impact the value of a property, either positively or negatively, depending on the type and location of the easement. It’s important for property owners to understand the potential impact of any easements on the value of their property.

Easements are an important legal concept in real estate that can create both opportunities and challenges for property owners. It’s important for buyers and sellers to understand the different types of easements, their legal requirements, and the potential risks and liabilities associated with them. If you are considering buying or selling a property with an easement, it’s important to consult with a qualified real estate professional to ensure that you fully understand the legal and financial implications of the easement.

*The information provided on this website is not a substitute for legal advice from a qualified attorney licensed in your jurisdiction.