You keep seeing “HPR” on East Nashville listings and wondering what it actually means for you day to day. You are not alone. Buyers often breeze past the acronym and only realize the differences at inspection or underwriting. This guide breaks down how an HPR works, how it compares with condos and fee‑simple homes, and what to check for parking, HOA dues, insurance, financing, and resale. Let’s dive in.
HPR basics in Nashville
An HPR, or Horizontal Property Regime, is a legal framework that splits one property into individually owned units plus shared common elements. You own your unit and also share ownership of things like the yard, roof, driveways, exterior walls, and parking areas. A recorded Declaration and plat describe those boundaries and rules.
In East Nashville, HPRs are common for townhomes, duplex conversions, stacked units, and small clusters built on a single lot. The developer records the regime with the Davidson County Register of Deeds, along with any bylaws or covenants. These documents set what you own exclusively, what you share, and how the owners’ association governs the property.
HPR vs condo vs fee simple
HPR vs condominium
Both HPRs and condos create unit ownership plus shared common elements. In day‑to‑day life, they function similarly. The label matters less than the recorded documents. What really counts for you:
- Whether your ownership is of a fee‑simple lot or an interior “airspace” unit.
- How common elements are defined and who maintains them.
- Which state statutes apply, since that impacts notices, resale packets, and developer obligations.
Bottom line: do not rely on the label alone. Read the Declaration and plat to see your ownership boundaries and responsibilities.
HPR vs single‑family fee simple
With a fee‑simple home, you own the lot and structure outright, and any shared items require separate agreements. An HPR creates multiple legal units on the same or related lot and sets shared governance for common areas. Zoning does not change just because a property is an HPR. The number of units and uses still must match Metro Nashville zoning approvals.
What you actually own
Your exact ownership is defined by the recorded Declaration and plats or floor plans. Look for:
- Unit boundaries. These show which parts are exclusive to you, such as the interior, limited exterior space, or a storage area.
- Undivided interest in common elements. You typically share ownership of the yard, roof, and driveways.
- Limited exclusive use areas. Parking spots or yard strips can be assigned for your unit’s use. That assignment should be recorded.
- Alteration rules. Exterior changes often require approval. Interior work that affects structure, plumbing, or exterior appearance may also need approval.
Parking and access in East Nashville
Parking can make or break day‑to‑day living in East Nashville. Do not assume the space you see is yours.
- Recorded parking rights. The Declaration and plat control whether spaces are deeded, designated, or first‑come.
- Driveways and easements. Shared driveways are common. Clear easements can help prevent disputes.
- Street vs on‑lot parking. Learn whether there is assigned on‑site parking or if you will rely on street parking. Check neighborhood rules before you count on on‑street options.
HOA, dues, and maintenance
Most HPRs have an owners’ association that collects dues for insurance, common maintenance, and reserves.
- What to review: HOA budget, any reserve study, recent meeting minutes, insurance coverage, and a status letter that confirms dues are current.
- Small association risk: In 2 to 4 unit HPRs, reserves can be thin. A roof or driveway repair may trigger a special assessment. Ask about past assessments and current financial cushion.
- Maintenance split: Confirm who pays for the roof, exterior, foundation, fence, and driveways. The Declaration should outline this.
Insurance and liability
- Master policy vs unit policy. The association’s master policy often covers common elements and sometimes the building envelope. You likely need an HO‑6 unit policy for interior finishes, personal property, and loss assessment.
- Liability. Shared areas mean shared liability. Confirm coverage limits on the master policy and whether you have exposure for uninsured losses.
Taxes and assessments
Each HPR unit is typically taxed individually, especially if separately platted. If the units are not separately platted, your title company can clarify how Metro Davidson County assesses the property. Also plan for the possibility of special assessments from the HOA for larger repairs.
Financing an HPR in East Nashville
Many lenders treat HPRs much like condos because the shared ownership structure creates similar risks.
- Underwriting focus: Declarations and bylaws, HOA budget and reserves, owner‑occupancy levels, any litigation, and whether a single owner controls multiple units.
- Conventional loans: Often workable, but underwriters will review HOA documents and factor dues into your debt‑to‑income ratio.
- FHA/VA loans: May require project approval. Small or new HPRs sometimes do not meet agency requirements, which can limit FHA/VA options or require extra steps.
- Cash buyers: Avoid project approval hurdles, but that can impact your buyer pool when you go to sell.
Smart move: talk to your lender early if you plan to pursue HPR listings. Ask whether they will lend on the specific project and what documents they need.
How to verify before touring
Use this quick checklist before you spend a weekend touring:
- Ask the listing agent for the recorded Declaration of HPR and the unit plat or floor plan.
- Confirm exactly what is included with the unit: interior, any exclusive yard, storage, and parking.
- Get HOA contact info and recent financials. Confirm dues, what they cover, and whether reserves exist.
- Call your lender to confirm they can finance this HPR and what approvals they require.
- Ask your title company how the unit is platted and taxed, and whether any title exceptions are typical for this HPR.
- If anything is unclear, consult a real estate attorney experienced with Tennessee condo and HPR matters.
Red flags to watch
- Missing or ambiguous recorded documents, or no clear unit plat.
- Very low reserves and a pattern of deferred maintenance.
- Pending litigation that involves the association or developer.
- Unclear or unrecorded parking and access easements.
- One owner holds multiple units, which can impact financing and governance.
- Frequent special assessments or major projects without a funding plan.
Local tips and who to ask
In East Nashville infill, you will see a mix of duplex conversions, new townhome clusters, and small shared‑driveway communities. Because setups vary, rely on the recorded documents to understand your day‑to‑day reality.
If you need to dig deeper, the following resources can help:
- Davidson County Register of Deeds for recorded Declarations, plats, and covenants.
- Metro Nashville Planning and Zoning to verify approvals and permitted uses.
- A local title company or closing attorney to explain title and plat implications.
- Your mortgage lender or broker to confirm loan eligibility.
- An HOA management company, if one is engaged, for budgets, minutes, and insurance.
Is an HPR right for you?
HPRs can offer modern layouts and East Nashville locations at a price point that compares well with fee‑simple homes. The trade‑off is shared governance and the need to confirm parking, maintenance, insurance, and financing. If you like the home and the documents check out, an HPR can be a smart move. Careful review up front can protect your budget and your resale down the road.
Ready to evaluate an HPR with a clear plan? Reach out to Christian Carroll‑Moag for a calm, consultative walkthrough of the documents, practical trade‑offs, and financing steps.
FAQs
What does “HPR” mean in Nashville real estate listings?
- It stands for Horizontal Property Regime, a setup where you own your unit plus a shared interest in common elements, governed by recorded documents.
How is an HPR different from a traditional condo in Tennessee?
- They often function similarly; the practical differences come from the recorded Declaration and plat that define boundaries, maintenance, and rules rather than the label.
What should I check about parking in an East Nashville HPR?
- Confirm whether parking is deeded, designated, or first‑come, and review any recorded easements for shared driveways or access.
Can I use FHA or VA financing on an HPR unit in East Nashville?
- Sometimes, but the project may need approval; small or newer HPRs do not always meet agency requirements, so ask your lender early.
What do HOA dues usually cover in a small HPR association?
- They often cover master insurance, common‑area maintenance, and reserves; always review the budget, coverage limits, and any planned assessments.
Are HPRs harder to resell than fee‑simple homes in Nashville?
- It depends on HOA health, maintenance history, financing availability, and size of the association; strong documents and reserves can help marketability.
