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Louisiana: The Pelican State
Louisiana has an estimated population of 4,661,468 residents. Baton Rouge functions as its capital city, while New Orleans remains its largest. Louisiana is known for its diverse heritage with strong influences from the French, Spanish, Native American, Haitian, and African cultures.
Louisiana has a vibrant arts and entertainment scene. There are several museums in the state, such as the
Capitol Park Museum, the
Louisiana State Museum,
Louisiana's Old State Capitol, the
National WWII Museum, the
New Orleans Museum of Art, and the
Ogden Museum of Southern Art. Louisiana is also famous for its festivals and parades, with some of the most notable being Mardi Gras, the French Quarter Festival, Festival International de Louisiane, and the Baton Rouge Blues Festival.
Sports also play a significant role in the culture of Louisiana. The state is home to two major league teams, namely the New Orleans Pelicans (NBA) and the New Orleans Saints (NFL). Colleges and universities located in Louisiana include
Louisiana State University,
Tulane University, and
Southern University.
Other attractions include Jackson Square, Bourbon Street, the
Oak Alley Plantation,
City Park, the
St. Louis Cathedral, the
Audubon Aquarium of the Americas,
Audubon Zoo, and
Mardi Gras World.
How Is Louisiana's Rental Market?
The rental market in Louisiana is quite attractive. The
median sale price for a home in the Pelican State is $241,070, which represents a 4.2% year-over-year change. Louisiana also boasts a large renter population. In fact, 34.4% of the state's residents rent their homes.
Image via towncharts.com
Rent in Louisiana is also reasonable. The median rent in this state was $866 in 2019, going up and down in small increments every year. It is worth noting that the national median rent in 2019 was $1,097, noticeably higher than the one in Louisiana.
Image via deptofnumbers.com
The Pelican State also has a higher vacancy rate compared to the national rate. In 2019, the vacancy rate in Louisiana was 8.34%, whereas the national rate was 5.97%. Still, Louisiana has a fairly decent rental market, especially when you consider the fact that its laws are mostly landlord-friendly.
Why Hire a Louisiana Property Management Company?
Landlords usually have a challenging time juggling rental management with other aspects of their lives. This comes from either inadequate time for or experience in rental property management. Fortunately, a good way to preserve your investment and earn a consistent rental income is to hire a Louisiana rental management company.
What can a property management company in Louisiana do for you?
A company or property manager can take over all of the responsibilities you would typically perform as a landlord. This includes marketing your listing, screening tenants, performing property inspections, setting and collecting rent, and managing maintenance and repairs. They also normally craft and enforce your lease agreement as well as answer tenant calls. Although services can differ, many companies also offer assistance with financial management, tax preparation, and eviction proceedings.
If you own too many rental properties, lack expertise in rental management, or simply don't like hands-on management, hiring a professional is your best course of action.
Get Help With Property Management in Louisiana
Looking for a property management company in Louisiana? Our
online directory was created to help landlords find property management companies that meet their rental needs. Feel free to browse through our site and find the right rental management company for you.
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