6 Things to Consider Before Turning Your NOLA Property Into a Vacation Rental

911 Elysian Fields Avenue, Listed By Lane Washburn

New Orleans is a historic vacation destination in southern Louisiana that offers rich cultural diversity, delicious food and warm weather year-round. Homeowners can convert their properties into vacation rentals to get even more bang for their buck.

Short-term rental websites help you connect with potential customers, secure business and determine how to create lucrative rental properties with the features people are looking for. There are six aspects to consider when turning your New Orleans home into a short-term vacation rental.

What Makes a Great NOLA Rental Property?

Renters seek New Orleans rental properties with specific features. Most customers leave five-star ratings for properties where they feel most comfortable. Many elements go into creating a comfortable short-term rental.

The bedding, furniture, resources and security influence customers’ comfort levels. Highly rated properties are also aesthetically appealing. You can add modern features and artwork to your property to improve rental rates.

Visitors generally search for short-term rentals close to tourist attractions and public transit systems. You can create digital guides for visitors and help them locate nearby resources. Going the extra mile to ensure your customers’ comfort and happiness during their stay attracts more renters down the line.

1. Fill Out Permits and Other Paperwork

The first consideration when developing a short-term rental property is its legal eligibility. New Orleans has strict rental property codes and standards, and you must follow the permitting process to attain the appropriate certifications.

You can either fill out short-term rental applications online or in person at city hall. Officials will review your application and respond in two weeks or less. Be sure to display your permit in a window to avoid fines.

2. Add Luxurious Features and Décor

You should also consider which features and elements of décor may increase your rental properties’ ratings. You can charge higher rental rates for luxury properties, which will boost your profitability.

Replace outdated handles and doorknobs with gold versions to enhance consumer appeal. You can also add fresh coats of paint to walls, baseboards, and molding to cover marks and dents.

Areas of New Orleans are constantly under construction, which creates unpleasant views. You can put up floor-length curtains to hide eyesores. You can also replace outdated and damaged baseboards to increase a rental property’s aesthetic appeal.

Create a luxurious feel inside your rental properties by hanging oversized artwork. The images may draw attention to specific areas of each room and can also add color or style.

3. Install Smart Security Systems

You should also consider safety features. Different areas of New Orleans have high crime rates, which decrease renters’ sense of safety and comfort. You can install smart security systems to deter criminals and protect customers.

Smart security systems use the Internet of Things (IoT) to connect video cameras, microphones, speakers and other features. The IoT connections let you view real-time video footage and control different safety features. These devices also autonomously alert local authorities of suspicious activity on rental properties.

4. Elevate Homes in Flood Zones

Another short-term rental property consideration is its storm resilience. The frequency and intensity of hurricanes are increasing in the south. You can protect your rental properties from damage by minimizing flood risks.

Hire professionals to elevate your properties. Many homeowners are placing their properties on silts to increase their resilience as sea levels rise.

You should determine whether your home is in a flood zone before taking action. Refer to New Orleans flood zone maps before making structural upgrades. Elevating a property may prevent long-term damage and improve renters’ safety.

5. Create an Outdoor Sanctuary

You can also create highly rated rental properties by developing outdoor sanctuaries. Many short-term renters visit New Orleans from northern states to escape cold weather. Appeal to snowbirds by creating relaxing outdoor environments.

You can hang string lights to illuminate outdoor areas and increase renters’ safety at night. Install outdoor fans and add rocking chairs to develop aesthetically appealing outdoor sanctuaries. You can add a New Orleans flare by planting purple, green and yellow flowers to represent Mardi Gras.

6. Prepare for Seasonal Scheduling Changes

You should also consider seasonal business changes in New Orleans before creating short-term rental properties. Hurricane season can throw a wrench in renters’ abilities to get to the city, and you may go weeks or months without business during high-storm-risk seasons.

Summer heat may also interfere with short-term rentals. Average summer temperatures in June, July and August exceed 90 F. Few renters visit New Orleans in the summer because of the climate, which negatively impacts rental rates.

Attracting Loyal and Respectful Renters

Keep your short-term renters coming back by practicing ideal customer service. It’s a good idea to stay near your rental properties in case people need anything to improve their stays. You should also develop a list of expectations and a damage policy to attract respectful renters and protect your homes, ensuring all parties have an enjoyable time.

*Written by Rose Morrison of renovated.com