As some of you may know, the city’s enforcement of short term rentals started on April 1st. Although the city has declared an unofficial grace period until May 15th, it is exciting to see so many small business owners stepping up and getting the proper licenses. While it might not be a success story for one business in particular, it’s a success for the city as a whole.
Here is why: On the state level, our representatives from New Orleans are working on giving some of the tax revenue generated by short term rentals back to the city. The New Orleans Advocate reported that short term rentals in New Orleans could generate millions in taxes for the city. This means that those taxes will contribute to the local economy, and bring new revenue into the city.
It’s a win for all residents of New Orleans because tax revenue is being collected and dedicated to “the quality of life of residents” including emergency medical services and street repairs.
As of the beginning of April, over 1300 applications have been filed, and more are expected to follow. At one point, 4500 short term rentals were operating in the city. There are three types of licenses: accessory, temporary and commercial. Accessory and temporary licenses are for homes in residential neighborhoods. Short Term Rental Brochure
If you want to stay up to date on short term rental regulations in New Orleans or have any questions about the licensing process, head over to our page http://nolasmallbizlaw.com/new-orleans-short-term-rental-license.