Buying a condo in SoBro is exciting, but the bylaws you agree to on day one will shape your costs, your freedoms, and your resale value. In a lively downtown district where events, traffic, and short-term rentals are part of daily life, small clauses can have big consequences. In this guide, you’ll learn exactly which bylaws and documents to review, what Tennessee law requires sellers and associations to provide, and the SoBro-specific issues to check before you close. Let’s dive in.
Why bylaws matter in SoBro
SoBro sits in the center of downtown Nashville’s entertainment core. Concerts, conventions, and nightlife bring energy and activity that can impact parking, noise, and building operations. Get familiar with your building’s quiet-hours, security, and event policies, and confirm how the association manages peak-event days. For neighborhood context, review the Downtown Nashville neighborhood overview.
If you plan to rent, especially short term, remember that both your condo’s bylaws and Metro Nashville’s permits apply. Even if city rules allow a permit, your building may not.
What to read first
Tennessee law gives you strong disclosure rights. On written or electronic request, the association must deliver a resale information package within 10 business days. See the statutory delivery rule in Tenn. Code §66-27-502 and the required contents in §66-27-503.
Your package should include:
- Declaration/master deed with all amendments, bylaws, and current rules.
- Approved budget, recent financials, and a statement of reserves.
- Meeting minutes for the last 24 months.
- Current monthly assessments, any special assessments, and transfer fees.
- Insurance certificates with coverage limits and deductibles.
- Total owner delinquencies over 60 days, pending litigation, and unsatisfied judgments.
Governance, fees, and reserves
Start by reading how the board is elected, quorum and proxy rules, and how assessments are set. Rules that allow quick fee increases or broad fining power can change your monthly costs. Cross-check budgets and minutes for patterns of increases or frequent special assessments.
Tennessee updated its reserve study requirements. Many associations must have a current reserve study and update it every five years. Confirm the date of the last study and the funding plan. See the reserve study provision in §66-27-403. If reserves are thin and big projects are looming, you could face a special assessment.
Leasing and STR rules
Bylaws often restrict leasing through minimum lease terms, rental caps, or outright short-term rental bans. In SoBro, demand for short-term rentals is high, but many buildings prohibit them and city permits are limited by zoning.
Before you rely on rental income, verify both the condo’s rules and Metro’s requirements. Review the city’s short-term rental operation rules and permit types. If the bylaws prohibit STRs, you cannot operate one even if the city would otherwise issue a permit.
Insurance and maintenance
Your building’s master policy typically covers common elements, while you insure your unit interior with an HO-6 policy. Tennessee requires associations to carry property insurance for common elements with replacement-cost coverage at or above 80 percent of replacement cost, after deductibles. Review coverage limits, exclusions, and who pays deductibles for building claims. See §66-27-413.
Check the declaration to see where unit boundaries end and limited common elements begin, such as balconies, windows, and plumbing lines. This determines who pays for repairs after a leak or storm. In SoBro’s river-adjacent location, ask whether the master policy includes or excludes flood coverage and whether your lender will require a separate flood policy.
Liens and delinquencies
Associations in Tennessee have a lien for unpaid assessments, and in many situations they hold priority for up to six months of regular assessments in a foreclosure. Understand how this lien works and whether any actions are pending that could affect your unit. See the lien priority rules in §66-27-415.
Your disclosure packet should also report total assessments over 60 days delinquent and any pending lawsuits. High delinquencies can signal future special assessments or service cuts.
Parking, amenities, and moves
Downtown parking is at a premium. Confirm whether your space is deeded or assigned, if it is transferable, and whether there are separate fees. Review guest parking limits, EV charging policies, and the rules to access amenities like gyms, pools, and common lounges.
Ask about move-in procedures, required elevator reservations, deposits, and service hours. These details affect daily living and your experience on closing day.
Red flags to spot
- Reserves with no recent study or a plan that does not match upcoming capital needs. See the reserve study rule in §66-27-403.
- Repeated special assessments or sharp annual fee increases in the minutes.
- High owner delinquencies or pending litigation in the disclosures.
- Insurance gaps, such as very high deductibles pushed to owners or no flood coverage, despite location. Review §66-27-413 and the certificate of insurance.
- Ambiguous or restrictive leasing and STR language that conflicts with your plans.
How to get documents
Submit a written or email request for the full resale package as soon as you go under contract. The association must deliver it within 10 business days under §66-27-502. If delivery is late or incomplete, remedies and penalties may apply under §66-27-505.
Ask upfront who pays any preparation fee. Keep your review deadline aligned with your contract contingency so you can negotiate or exit if the documents reveal material issues.
Next steps to protect your purchase
- Write a contract contingency tied to delivery and your review of the full statutory package.
- Have a Tennessee real estate attorney review bylaws, declarations, minutes, budgets, reserve studies, insurance certificates, and any major vendor contracts.
- Verify leasing and STR rules in writing and confirm Metro Nashville permit eligibility.
- Confirm the date and scope of the latest reserve study, the funding plan, and upcoming capital projects.
- Order a condo-focused inspection and verify what items are unit versus common elements.
Have questions about a specific building or need help reading a resale package? Reach out to Sam Gray Real Estate for local guidance and a smooth SoBro purchase.
FAQs
What are condo bylaws in Tennessee?
- Bylaws set the association’s operating rules, including board powers, meetings, assessments, and enforcement. They work alongside the declaration and the Tennessee Condominium Act to govern daily life and costs.
How fast must a SoBro condo association deliver resale documents?
- Tennessee law requires delivery within 10 business days of a written or electronic request. See §66-27-502 and the required contents in §66-27-503.
Can you run a short-term rental in a SoBro condo?
- Only if your bylaws allow it and you qualify for a city permit. Review the building’s leasing rules, then check Metro’s operation requirements and permit types.
What should you look for in the reserve study and budget?
- Confirm a recent study, a realistic funding plan, and adequate reserves for big items like roofs, facades, elevators, and HVAC. See Tennessee’s reserve study rule in §66-27-403 and general best practices from CAI.
Who pays insurance deductibles after a building claim?
- It depends on your declaration and bylaws. Tennessee requires associations to insure common elements at or above 80 percent replacement cost, but responsibilities for deductibles and interior items vary. Review your documents and §66-27-413.
