Are there A Lot of Homes for Rent in Wellington FL?

By
Real Estate Agent with Hansen Real Estate Group Inc.
Are there a lot of Homes for Rent in Wellington FL?

There are currently 27 single family homes for rent in Wellington Florida with a monthly rental amount starting at $1,600 a month up to $8,000 a month.

So is 27 homes for rent in Wellington FL a lot? There is only one way to find out and that it is to calculate the absorption rate, which is typically used in real estate sales, but to figure out if this is "a lot" of homes for rent I applied it here.

 Wellington Homes for Rent Landlords Market

What is Absorption Rate? Only so many homes will be rented in Wellington each month and here is an quick example of absorption rate:  If 12 homes have rented in the last 12 months that means the market is only absorbing one rental home per month. If there are currently 6 homes for rent there is a 6 month supply of rentals.

  • A 6 month supply is considered a "Balanced Market." There is an even amount of homes for rent and tenants
  • Less than 6 months is a "Landlord's Market." There is a lack of homes for rent.
  • More than 6 months is a "Tenant's Market." There is an over abundance of homes for rent.
Based on this information Wellington Florida is an extreme "Landlord's Market."

So what does this mean for Wellington Florida tenants?

  • Expect to pay full asking price for a Rental
  • Expect multiple offers on homes for rent
  • Expect a Landlord to pay close attention to your credit report, rental history and finances

Get a list of homes for rent in Wellington FL that fit your needs by filling out our Online Rental Questionnaire and if you are unfamiliar with the rental process read our Tips and Expectations.

 

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Topic:
Real Estate Market Trends
Location:
Florida Palm Beach County Wellington
Groups:
Palm Beach County Homes for sale- South Florida Real Estate for Sale
Wellington Homes for sale- South Florida Real Estate for Sale
Palm Beach County Pros
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Tags:
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wellington fl homes for rent

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Rainmaker
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Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Great explanation for your potential Wellington, FL renters, Michelle. There is not going to be much flexibility in the rental prices. 

Mar 27, 2011 09:53 AM #1
Rainer
212,055
Tim Peterson
Wisconsin Realtor Safety and Concealed Carry Classes - Madison, WI
Realtor Safety Training Classes

Hi Michelle-I had never seen rentals done that way with absorption rate before-great idea

Mar 27, 2011 08:18 PM #2
Rainmaker
1,333,948
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jane - That is correct

Tim - Me neither, but it's been very difficult trying to explain to potential tenants that there is a lack of rental inventory and since this works for real estate sales I thought I'd try it for rentals.

Mar 28, 2011 03:52 AM #3
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Rainmaker
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Michelle Gibson

REALTOR
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