NOLA VACATION RENTALS BENEFIT THE COMMUNITY

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If you are a vacation rental owner or operator in New Orleans, your right-to-rent is at stake. Vacation rentals represent an important part of the city’s tourism economy and embody the spirit of southern hospitality. But New Orleans lawmakers are considering a policy that would take all that away. Use this page to learn how you can stay engaged in the policy conversation around smart regulation.

LATEST NEWS

As travel rebounds, more travelers are choosing to stay at #shorttermrentals. When developing regulations, cities must balance the needs of all stakeholders to promote neighborhood quality and preserve the benefits short-term rentals provide. https://vrboadvocates.com/good-str-policy/

.@Vrbo’s “Only Your People” campaign highlights the benefits of #vacationrentals. “Vrbo has established itself as the travel brand for togetherness and being with the people you love,” and we remain committed to fostering effective policy solutions. https://www.vrbo.com/media-center/press-releases/2022/vrbo-releases-only-your-people-creative-campaign

Balanced #shorttermrental policies help protect local community needs and short-term rental operations. Learn more about how policy solutions customized for different localities can help meet the needs of all stakeholders: https://www.star-telegram.com/news/politics-government/article263738833.html

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FACTS ABOUT NEW ORLEANS VACATION RENTALS

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FACTS ABOUT NEW ORLEANS VACATION RENTALS

PROMOTING DIVERSITY. EMPOWERING WOMEN.


18.8% of vacation rental owners and operators in New Orleans are African American, and 53% are women. Owning a vacation rental property in New Orleans is providing these individuals with new opportunities to earn flexible income and take care of their families.

DRIVING ECONOMIC & TAX BENEFITS


In 2017, vacation rentals in New Orleans generated $900 million in total economic impact. This year, short-term rentals are expected to produce $63.9 million in tax revenue for state and local governments.

SUPPORTING GOOD JOBS


Vacation rentals in New Orleans create and support nearly 10,200 full and part time jobs, including those like cleaning services, landscapers, contractors, and the local retail stores and restaurants that benefit from vacation rentals. The average hourly wage for these employees is $24.94. These and other jobs supported by vacation rental visitors spending are expected to generate $263.1 million for residents of the NOLA area.

SPREADING THE BENEFITS OF TOURISM


In 2018, about 40% of vacation rental visitors stayed between 3 and 4 days in the NOLA area, and another 34.5% stayed 5 or 6 days. Vacation rental homes are often outside of concentrated downtown areas, so they help these guests discover new local shops and restaurants that otherwise may not have received their business.

ALLOWING LOCALS TO EARN EXTRA INCOME


82% of those who hold vacation rental licenses in New Orleans are local residents who reside in the New Orleans Metropolitan area. 54% of vacation rental homeowners cover at least three-quarters of their mortgage by renting their home to travelers, and 21% use the extra income to pay for their child’s education. Many are on fixed incomes, as 57% of vacation rental license holders are over the age of 45, and renting allows them to save for retirement.

SUPPORTING LOCAL BUSINESSES


Vacation rental visitors each spent an average of $918 during their trips to New Orleans, with much of that ($268 being spent on meals at local restaurants.

WHAT LOCALS ARE SAYING ABOUT VACATION RENTALS

"The short-term rental is more than a monetary gain for us. It’s a way to invest in a community. Being in an area where we’re void of hotels, that has a real impact."


Carly

“Since he’s been here (the STR owner down the street), I have seen dramatic change. I used to come home and feel like I wanted to pick up my house and move it. That’s how bad it was here.”


Keith