Wellspring Capital Property Management
Frequently Asked Questions

1) What are your rental requirements?
Complete application guidlelines and selection criteria can be viewed here;         https://drive.google.com/file/d/1xwpMUJeDXAYqRaoklNx3RJXpHHmg6F6h/view

2) How do I submit an application?
Please use this link below to review our application and instructions;     https://drive.google.com/file/d/1xmTHeBqJVQRh523yv6viDOzLhxBDj7fx/view

3) How long will it take to get approved?
Upon receipt of a completed application, required documents and application fee, we will usually have it fully processed and notify you of the results within one business day of receipt. Incomplete applications, missing documents, or unresponsive employers/landlords will delay processing.

4) When do I need to pay the Security Deposit?
Approved applicants have 24-hours to execute the lease agreement and pay the security deposit in certified funds. Receipt of the security deposit AND a signed lease will stop showings and holds the property until your agreed upon move-in date. Until then, Wellspring Capital reserves the right to continuing showing the property and accepting applications from other parties. The first months rent is due at move in.

5) Do you accept Section 8?
Wellspring Capital accepts housing vouchers at the current listed market rent of the home. Please note that our application guidelines and selection criteria are the same regardless of income source / housing voucher. An ideal applicant with a housing voucher will be able to provide proof of monthly income of 2X rent (annual income of 200% of annual rent), credit score of 640+ , excellent rental history, have full security deposit at the time of application, and be able to move in within 14 days of listed availability.

6) Do you accept pets?
Not always. Each owner/listing has its own pet policy.  See specific listing for details . IF the property owner allows pets, fees may apply. Pets must be at least two years old and not generally or legally considered to be a vicious breed. If you have a pet, there is a pet screening fee of $20 for the first pet and $15 for the second pet and is administered by a third-party(no charge for assistance animal screening). Applicants are required to complete pet screening for each of their pets or assistance animals PRIOR to applying for any of our properties at wellspringcapital.petscreening.com . Wellspring Capital reserves the right to not rent to tenants with pets, limit the type, number and breed of pets.

7) Why was my showing cancelled?
In order to make the best use of your time, our time, and lessen any inconvenience to the current residents we ask that you review our application criteria in advance. If you schedule a showing and you do not meet the rental requirements, you will receive notice that your showing has been canceled. For example, if you have pets or are a smoker and have scheduled a showing on a home listed as No Smoking, No pets, you will be notified that your showing is canceled.

8) Why am I unable to schedule a showing? I keep getting errors. Is something wrong with your website?
Our showing software prescreens to match applicants with properties.  Is your stated income or credit score below our minimum requirements to be considered for lease? Consider reviewing our application guidelines and selection criteria.   Make sure you have included your full household income. Is your earliest move in date within 14 days of available move in date? We attempt to limit showings to those applicants able to move in within the required timeline.

9) I am not moving for another month or two. If I put down a deposit will you hold the property for me?
In most cases the answer is no.  The lease start date must be scheduled within approximately 14 days of acceptance of the application, or within approximately 14 days of the posted available move in date if the property is currently occupied.

10) I have bad credit. Will you work with me?
Applicants must have a FICO (as reported by any of the top 3 agencies) of 640 or above to be considered for lease. No exceptions. We do not accept co-signers or guarantors to offset poor credit. Applicants with credit scores below 640 will not be considered for lease.

11) Can I rent the home sight unseen?
Exceptions being made to this rule during Covid-19. We are working to put together a virtual tour on all properties.We want to make certain you are happy with the location, condition, layout and know exactly what you are renting. You are welcome to submit an application for pre-approval in advance and must tour the home prior to lease signing.