Looking to buy a rental in Drogheda

Lamfhada

Hi All,

I’m currently looking to buy a rental property in Drogheda (as prices have become ridiculous in other markets) and wanted to get some advice on areas.

Can anyone tell me what Pearse Park or Greenhills are like?

Any other advice anyone can give would be much appreciated.

Many Thanks

Lamfhada

TattooedLady

I live in Drogheda. Both them are on the North Side of town which isn't the best area for rentals but still not too bad! If you could get a property soutside it would be best as all transport links are that side.

Generally though Pearse Park and Greenhills aren't bad areas and as a whole houses for rent in Drogheda, North or South, don't tend to be on the market for too long!

enricoh

Pearse park is a 5 minute walk to the biggest employer in drogheda - the hospital.
You would rent it in roughly 5 minutes!

Samuel T. Cogley

My advice would be to make sure you've explored all the other options for investment. Being a small time Landlord carries quite a bit of risk and requires a reasonable contingency fund. If you have to borrow to invest then it's the only option but make sure you keep some money in reserve.

Lamfhada

Samuel T. Cogley wrote: »

My advice would be to make sure you've explored all the other options for investment. Being a small time Landlord carries quite a bit of risk and requires a reasonable contingency fund. If you have to borrow to invest then it's the only option but make sure you keep some money in reserve.

Thanks Samuel. That’s fair comment on borrowing to invest as it is not without risk. I’ve been a small time investor for 7 years, so have some familiarity with the risks. While house prices are increasing quickly, I find the complete divergence of the stock market from normal P/E ratios a little difficult to understand and even diversified ETFs are exposed to a grossly inflated base. While others are 10x, 100x and 1000x on their crypto investments, all I can see is a market that has nearly halved in 3 months, so I don’t fancy my chances in the digital casino of non-assets.

It might be old fashioned, but a property that generates an income (twice the mortgage payment - excluding tax) is a reasonable bet. Like you say a contingency fund is a prerequisite and is probably the first step in most peoples financial plans (after paying off short term debt).

Del2005

Lamfhada wrote: »

Thanks Samuel. That’s fair comment on borrowing to invest as it is not without risk. I’ve been a small time investor for 7 years, so have some familiarity with the risks. While house prices are increasing quickly, I find the complete divergence of the stock market from normal P/E ratios a little difficult to understand and even diversified ETFs are exposed to a grossly inflated base. While others are 10x, 100x and 1000x on their crypto investments, all I can see is a market that has nearly halved in 3 months, so I don’t fancy my chances in the digital casino of non-assets.

It might be old fashioned, but a property that generates an income (twice the mortgage payment - excluding tax) is a reasonable bet. Like you say a contingency fund is a prerequisite and is probably the first step in most peoples financial plans (after paying off short term debt).

Make sure that whatever you buy meets current building regulations. If you get a HAP tenant then you could have an expensive time meeting their criteria

G-Man

Del2005 wrote: »

Make sure that whatever you buy meets current building regulations. If you get a HAP tenant then you could have an expensive time meeting their criteria

Is that a requirement for all HAP clients.. Is that a also a requirement for PRTB registration.

Lamfhada

G-Man wrote: »

Is that a requirement for all HAP clients.. Is that a also a requirement for PRTB registration.

No G-Man. The RTB don’t assess properties according to building regulations etc, but will adjudicate on issues related to properties that don’t meet the regs. For HAP tenants, the local County Council is meant to do an inspection visit within 8 months of the start of the HAP payments for the tenancy. If the recommended changes to the property aren’t made within the required timeframe, then the County Council will cease all HAP payments.

As a result, HAP tenants can obtain better rental accommodation at a lower price than those exposed to the fully private market.

Lamfhada

Lamfhada wrote: »

but will adjudicate on issues related to properties that don’t meet the regs.

What does that mean? They don't care if there's no ventilation in the bathroom, but if the tenant complains about mould they will tell you to install a fan?

Lamfhada wrote: »

Pearse Park

Pearse Park is an interesting place. Very mature, quiet, ticks all the boxes, etc. but there's a known "bad guy" in the area, and almost every house I've seen for sale there in the last 12-18 months has been in the vicinity of him.

Lamfhada

[Deleted User] wrote: »

What does that mean? They don't care if there's no ventilation in the bathroom, but if the tenant complains about mould they will tell you to install a fan?

That’s a good point KKV. The RTB only ever gets involved if there’s a dispute between landlord and tenant because someone has to report it. They don’t proactively go out and audit properties. So let’s say mould begins to form in the bathroom due to no fan, the tenant stops paying rent and the landlord tries to evict. The case gets referred to the RTB by the tenant and after a long review process, they’ll find in the tenant’s favour. I don’t think the RTB would require the installation of a fan, but the fact that there’s no fan and mould has formed would suggest the tenant had a legitimate complaint. I’d assume the RTB would absolve the tenant of the back rent.


Pearse Park is an interesting place. Very mature, quiet, ticks all the boxes, etc. but there's a known "bad guy" in the area, and almost every house I've seen for sale there in the last 12-18 months has been in the vicinity of him.

That’s a really important piece of information. Thanks KKV. Without naming names or the exact house number, can you give a range of house numbers?

Well there's only one for sale in Pearse Park at the moment and it's not far away. There are two in the Sale Agreed section, aswell. You'll note the locations are all very samey.