Burkely Communities Resident Qualifying Criteria
Occupancy and Applicant Standards: Apartments: Two (2) persons per bedroom. Student Communities (leasing by the room): One (1) person per bedroom. All applicants must be eighteen (18) or older. A rental application must be completed for each individual age eighteen (18) or older who will occupy the apartment. An application fee is required for each applicant. All leaseholders, with the exception of guarantors or co-signers, must occupy the premises. Burkely Communities provides equal housing and services for all people regardless of race, color, religion, sex, national origin, handicap or familial status.
A) Income
At most Burkely Communities, Income must equal or exceed three (3) times the monthly rent.
Roommates - each income must be equal to or exceed 2.5 times the monthly rent.
If neither of the previous criteria applies, then a Guarantor or Co-Signer may be required (see F below).
B) Employment
Current employment must be verified through supervisor/personnel department including verification of salary. If needed, recent pay stubs may be used for salary verification.
Self employed or Students without a Guarantor or Co-Signer, must provide documentation of sources of income which could include personal assets.
Persons without verifiable employment may provide evidence of savings equal to the total annual income requirement for the apartment.
C) Rental Scoring
Rental scoring systems assign points to certain factors identified as having a correlation to future financial lease performance. Your rental score results from an analysis of information found in your credit report, application and previous rental history. Such information may include your bill-paying history, the number and type of accounts you have, collection actions, outstanding debt, income and the number of inquiries in your consumer report. The final number, or rental score, represents an estimated level of risk. Because your rental score is based upon real data and statistics, it is more reliable than subjective methods of evaluating your information. Rental scoring treats all applicants consistently and impartially. If no Rental Scoring is available (SS or ITN number too new, etc.) then a refundable security deposit up to two month’s rent may be required.
D) Rental history
We will not rent to anyone with a prior/current eviction or outstanding money judgment from a landlord and/or property management company. Payment history and adherence to community policies is taken into consideration when evaluating all applications.
E) Criminal history
Burkely Communities, LLC incorporates national criminal background screening as part of the application processing in order to protect the safety of our residents, employees and property. The Third-party screening process does NOT consider arrests, pending actions, adjudications or pre-trial interventions/diversions- ONLY criminal convictions. The screening process does not impose a blanket prohibition on any person with any conviction record- Burkely only considers those criminal convictions that have a substantial and legitimate bearing on our business operations; the age, nature and severity of the offense will also be considered.
F) Guarantor(s) and Co-Signer(s)
Guarantor(s) and Co-signer(s) must meet the following criteria:
Guarantor’s and Co-Signer’s income must meet or exceed 6 times the monthly rent
Must meet all qualifying criteria required of the lease applicant (see B - D)
Must complete an application and execute the Lease or a Guaranty Agreement.