Rental market in waterford city

eh123

Hey, Anyone know what the rental market in waterford is like at present? Hoping to buy a house in the dunmore road area and hoping to rent it out for a few years. So is it a renters market or is fairly ok to get tenants? Thanks a lot...

peepsbates

eh123 wrote:

Hey, Anyone know what the rental market in waterford is like at present? Hoping to buy a house in the dunmore road area and hoping to rent it out for a few years. So is it a renters market or is fairly ok to get tenants? Thanks a lot...

id say you could fill it with students fairly handy

Tanabe

Students would be better off staying in Lismore Park area for accomodation, however you would easily find tenants on Dunmore Road in the form of a family or young professionals working in the hospital etc.

AdMMM

There is a lot of demand for housing in Waterford for sure. We put our old house up for rent on Friday and have since got over 40 calls enquiring about it, despite finding tenants with the first call. You'll have no problem finding people to rent it.

meldrew

You would be better off not renting to students or nurses , they'd wreck the house on you , probably better off with professionals . With refugees and eastern europeans you would'nt know how many of them would be staying in the house so better off steering clear of them also

eh123

Thanks for the replies:) I've looked at a few houses in the dunmore area and most of them have been landlords selling up... If they had no problems with tenants expect most of them would hold on to their properties! Any one think Waterford is likely to expand - doesn't seem to have too many industries at the moment? Just wondering if i'm crazy considering investing in waterford ?? Have been priced out of other cities though

Fajitas!

Can't really go wrong with renting a house tbh, there'll always be someone looking for a place, especially on the Dunmore road. (Even if Waterford never expands)

If you're based in Waterford, but wanted to go outside, Clonmel is supposed to be booming at the moment. I think there's a pharmaceutical company there that's hiring like mad.

meldrew

Waterford is the major population centre of the south east its always going to expand !

merlante

eh123 wrote:

Thanks for the replies:) I've looked at a few houses in the dunmore area and most of them have been landlords selling up... If they had no problems with tenants expect most of them would hold on to their properties! Any one think Waterford is likely to expand - doesn't seem to have too many industries at the moment? Just wondering if i'm crazy considering investing in waterford ?? Have been priced out of other cities though

It's only going to get better I think. It's a few years behind Limerick and Galway, but it is expanding and it is getting there. And the quality of life is absolutely top notch.

ToxicPaddy

Renting in Waterford is not as easy as you would think.

Depending on what type of tenant you're looking for, there is a lot of
accommodation out there that lies unrented for ages so I'd advise you to do
your homework before you buy.

The Dunmore rd area is a good area of town, but you wont get students out
that area, unless you're talking about Student nurses. I'd have to agree
about not renting to them as I've heard some horror stories about people
who have rented, they tend to work long hours and like to party hard
afterwards, I've been to a fair few myself and unfortunately things get fairly
wild and usually ends up in some damage being done. No offence to anyone
out there who's a student nurse, its just what I've heard from numerous
sources. Not something you'd like to hear Im sure especially if you've just
spent a lot of money doing up a house to rent out.

A lot of professionals rent out the Dumore area, this is the market you should
be aiming at. However, the house would need to be in good nick and any
furniture would need to be good along with appliances etc.

If you plan on doing it all by the book, it might be worth going through an
agency who will do all the searching, vetting etc for a percentage a month.

From what I believe, families are your best bet to rent to. Most tend to look
after the house better than individuals as they have kids in the place and
keep the place clean and relatively tidy. They tend to be between houses
themselves, either just after selling or just in the process of buying.

The Dumore road has new estates popping up almost every year so the older
ones tend to be left with lots of property unrented and this is possibly whats
selling at the moment. Older estates would be Viewmount and Earls Court.

Why rent an old house when for the same money you can move down the
road and rent a brand new house??

But on top of that, April/May is one of the prime times to sell property,
coming near the end of the school year, so familes can move during the
summer without interrupting kids in school etc. This could also be why so
many properties are on the market.

Might be an idea to buy an apartment starting out. Less hassle in the long
run, easier to rent as most tend to be city centre based and most come with
all appliances etc built in.

So like I said, do your homework.

Tox

eh123

Thanks Toxicpaddy for your detailed reply. Good to get a balanced view. Lots of the properties i've viewed have been landlords selling up so figured the rental market wasn't all that healthy. Decisions, decisions!