New Orleans Landlord Advice
We work with a lot of New Orleans residents that are in search of a rental. They’re not ready to commit to buying a home of their own, but that doesn’t mean that they are willing to accept just any old place. We asked what they are most looking for in rental properties and pulled it all together in this edition of New Orleans landlord advice.
Top 5 Tenant Needs
- Washer and dryer, preferably within the unit but definitely onsite
- Central air and heat
- Pet friendly
- Walkable neighborhood/local amenities
TIE 5. Closet space
TIE 5. Parking
Top 5 Interior Wants and Needs
- Dishwasher
- Wood floors (or at least no carpet)
- Gas range
- Ceiling fans
- No shotgun layout (independent bedrooms)
Top 3 Exterior Wants and Needs
- Outdoor space or yard
- Patio/balcony/porch
- Pool
What else did tenants request?
- They don’t like living next to a rotating cast of AirBnB visitors, preferring a place where they can get to know their neighbors
- Reliable maintenance seems to be an issue. Landlords shouldn’t leave people hanging, particularly when it comes to plumbing or HVAC issues.
- Did you know that tenants are checking your water pressure before putting in an application? They are. That little trickle of water doesn’t cut it, so be sure that the pressure is up to snuff.
- A clean and maintained yard
- Finally, I don’t know which of you is renovating bathrooms and not installing electrical outlets, but cut it out.
Our Advice
It’s tempting to go with the most inexpensive options when renovating a property that will be rented. But does it really save you money in the long run if you are forced to reduce the rent to fill the space? Does it save you money when there is a constant turnover of tenants because of the flaws and defects?
I don’t think any renter expects to find everything on their wish list in one space. But taking their needs into account can certainly bring you the long-term stability and income that every landlord is hoping for.
Do you need help finding the right investment property? Or finding the right tenant for your existing property?
Call us today at 504-327-5303 and we’ll be happy to help.
