11/24/2023 0 Comments Airbnb new orleansNew Orleans already struggled with poor-quality housing, lower-than-average wages, terrible public transit, and in some areas, rampant gentrification.īut companies like Airbnb, Vrbo, and HomeAway have contributed to making it more unaffordable for the people who want to live there. Short-term rentals didn’t create economic inequality, but they have helped deepen it. That’s not always easy to achieve in the Spanish city of Palma de Mallorca, a 2018 ban on Airbnb-style rentals hasn’t stopped people from renting out their properties. Like most places that have enacted tighter measures on vacation home rentals, New Orleans has found its key to success lies in rigorous enforcement by both the city and the platform. In a statement to Fortune, spokesperson Laura Rillos noted that home sharing “is one of the few tools available to any family that would like to stay in the community they love and turn their greatest expense-their housing-into an economic opportunity.”įor now, New Orleans’s new short-term rental rules primarily target people and companies with multiple tourist rental properties while protecting people like Wiegand and Mills, who live full-time on the properties they rent out. My taxes doubled in one year!” Now Mills has plans to double down on Airbnb by building two tiny houses in her backyard. “The property tax situation is outrageous here. My husband and I divorced five years ago, and I certainly would have had to sell the house if I hadn’t had the Airbnb income,” she said. “Airbnb definitely helps me to afford my home. She lives on one side and rents the other on Airbnb, which she said nets her between $800 and $2,000 more per month than if she’d rented it out to a long-term tenant. Neighbor Carmen Mills bought a double Craftsman house in 2011. “So when I am ready to retire, I can out my rooms in the front and have a little bit of income, and I’m not going to have to worry about the huge expense of maintaining all this,” he said. The couple has poured tens of thousands of dollars into renovating the house as they prepare for retirement, creating a small two-bedroom apartment in the front and their living quarters at the back. “We’re in a place now where, unlike our parents, we don’t get pensions,” said Wiegand, 55, a lifelong New Orleanian. Wiegand and Graffeo are hoping it helps them afford retirement. Those who can afford these rising tax bills are turning the short-term rental impact into a positive. Now, according to the latest property assessment, it is worth $330,800-a value based partly on the Bywater’s prized geography and rapid gentrification. It’s less likely to flood,” said Wiegand. It escaped with only wind damage because of its position on the edge of the Mississippi River, a natural levee on higher ground. Then Hurricane Katrina hit in 2005, sending 80% of the city underwater. Recent reassessments have seen home values, and therefore property taxes, double and triple in some areas. “Property values are out of control,” said Kristin Gisleson Palmer, an architect of the new short-term rental rules and a city councillor representing some of the most tourist-saturated parts of New Orleans. Now, in a catch-22 that short-term rental platforms have created, they need money because of short-term rentals. where workers currently earn 14% below the national average, people in New Orleans first became short-term rental hosts because they needed to supplement their income. In one of the poorest metro regions in the U.S. A lawsuit seeking to overturn the rules, meanwhile, alleges the new rules would favor hotel and motel operators. Comments have flooded into City Hall from residents demanding the municipal government respect their property rights and their contributions to local employment and neighborhood businesses. Alongside efforts in Jersey City, Los Angeles, and Toronto, and across Europe, New Orleans is buttoning up who can rent to tourists, and how-and it’s sending some who sank their savings into the short-term rental market into a state of anxiety. 1, new rules on short-term rentals may change New Orleans’s fortunes.
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