My Suspicion About CL Ads for Apartments (New Orleans: transplants, sales)

[confusedasusual]

I keep looking and seeing places advertised for $1750 to $3000k per month. I think that this is ABSURD for New Orleans, even in some of the best parts of town. Sure, there are always going to be isolated high end places with heavy price tags (Angelina and Brad need somewhere to live after all), but seriously? These are DC prices!

I really don't want to spend more than $1300 (though I could afford more if I fell in love), and I want a nice place in a nice area, etc etc. My thought is this-- CL caters to transplants who don't have the time or energy to stroll around the city and take numbers off of "For Rent" signs. Are landlords counting on the convenience factor to attract individuals who don't really know the "going rate" or is $1750 for a 1bdrm really reasonable? And, as mentioned in my other thread, the lack of a washer/dryer really seems to make these a bad bargain. Any thoughts?

[I. B. Trippin]

Hi confusedasusual,

As I've mentioned in other threads, I'm not a native, so there are others who can give you a better perspective on this subject. However, as someone who has been, occasionally, checking out the housing ads and sources of various types since pre-Katrina, it appears to me that vacant affordable rentals are just much less numerous and show up in the ads intermittently according to availability.

Craigslist is popular as the go-to site for those contemplating a relocation and caters largely to a relatively affluent demographic, appreciative of and willing to pay for extra amenities, and it is likely that property owners of less-affordable properties looking to maximize their advertising dollars and get quick results see it as their most cost-effective and therefore, primary, advertising method.

I believe affordable properties are still out there, at any given moment, but you have to dig a little deeper and work a little harder to find them. One of the things I've found interesting about New Orleans landlords, in light of the city's otherwise laid-back reputation, is that many of them tend to be very aggressive and pro-active about keeping their properties rented, to the point that, when they first become aware of a pending vacancy, they start taking immediate measures to get it rented again, right away.

It is my understanding that New Orleans has a higher proportion of owner-managed rental properties, than most cities and this probably accounts for their more active approach to keeping their properties tenanted. In my experience, property management companies are notorious for prioritizing sales over rentals, to the point of blatantly ignoring inquiries from and standing up prospective tenants who have made appointments to see properties. Other advantages to owner-managed properties is the possibility of negotiation of terms and often, greater responsiveness to issues that develop after the prospect becomes a tenant. Owner-managers are also, often a wealth of information about the housing market with regard to affordable properties, in general. To me, finding these people and getting to know them is well-worth the time and effort.

[Neworleansisprettygood]

Originally Posted by confusedasusual

I keep looking and seeing places advertised for $1750 to $3000k per month. I think that this is ABSURD for New Orleans, even in some of the best parts of town. Sure, there are always going to be isolated high end places with heavy price tags (Angelina and Brad need somewhere to live after all), but seriously? These are DC prices!

I really don't want to spend more than $1300 (though I could afford more if I fell in love), and I want a nice place in a nice area, etc etc. My thought is this-- CL caters to transplants who don't have the time or energy to stroll around the city and take numbers off of "For Rent" signs. Are landlords counting on the convenience factor to attract individuals who don't really know the "going rate" or is $1750 for a 1bdrm really reasonable? And, as mentioned in my other thread, the lack of a washer/dryer really seems to make these a bad bargain. Any thoughts?

My parents rent a 2br on their third floor for $1800 a month, and they're half a block from Audubon Park. If somebody is asking 3k a month it better come with a gold-plated bathtub and a live-in maid.

[confusedasusual]

Originally Posted by Neworleansisprettygood

My parents rent a 2br on their third floor for $1800 a month, and they're half a block from Audubon Park. If somebody is asking 3k a month it better come with a gold-plated bathtub and a live-in maid.

Hah! Gold plated jacuzzi and 22 year old Olympic swim team pool boy would be more like it. Some of them are furnished, but big deal.

[annie_himself]

Originally Posted by confusedasusual

Hah! Gold plated jacuzzi and 22 year old Olympic swim team pool girl would be more like it. Some of them are furnished, but big deal.

[dcrentalfinder]

Just keep digging my friend.

[TexandCajun]

It's pretty frustrating. So much so that we've added another location to our list, as much as we want to move to NO. (There are other factors involved in that, but the apartment/housing situation has been a big pain in the rear.)

[confusedasusual]

Originally Posted by TexandCajun

It's pretty frustrating. So much so that we've added another location to our list, as much as we want to move to NO. (There are other factors involved in that, but the apartment/housing situation has been a big pain in the rear.)

How so? I am curious. I found a short term place really easily in a nice area and plan on spending the next few months figuring out where to live more permanently. What sorts of challenges are you finding?

[TexandCajun]

Well we have kids so staying short term means we need an area where want to stay due to schools. We visit often as we live in the state, so we'll be patient about it. :-) This is just a huge move for us and the searching frustration has added to the stress.
We do not want to live outside of the city, need 3 bdrms and have a small dog.

I'm really glad you found a place! Very awesome. (We lived in Maryland for awhile as well--military).

[ptt]

The property tax in Nola is high. We paid xx,xxx and the same for insurance. As a landlord you will have to factor them in as well. Good apartment, good home never be on the market for more than a day. Every time when one of our apt become available it's gone with in 3 hours.