Burgess Management Group Rental Policy

 

 

                 I.    Application Process – Each person over the age of 18                planning to occupy the property must submit an application.


Each rental application requires a non-refundable fee of $25.00.    

All applications must be filled out completely including but not limited to the following:

 

 Past rental history (two or more years)

Current rental information
Current employment information (two or more years)
 Verifiable monthly gross income (include current paystub)
Permission to verify all application information including but limited to CBI report. 

 

Income Requirements

The required income needed to qualify is 3 times the rental amount.  In the case of roommates, income may be combined but should equal 4 times the rental amount.  All roommates must submit an application, pay an application fee and sign the lease.

 

Credit Requirements
All applications will be verified through CBI and other sources.
A positive credit history is required.  Applicants with adverse public records or prior evictions will be declined.

 

Rental History
Present and past rental history must be excellent and verifiable.  Verifying current rental history is the final stage of the approval process.

Exceptions
: If the applicant does not have sufficient current or past rental history, or if they do not have established credit history for at least two years, (must have positive credit), their application may be approved providing they pay an additional security deposit.

 

UPON APRROVAL: An administrative fee of $50 and the security deposit will be required to move forward with the lease.  We continue to show a property and accept applications until after a property is leased; a property is considered to be leased when we have received the full security deposit and the lease has been signed by all parties.

 

Declined applicants will be notified.

 

II.                    Co-signers

Co-signers will be allowed if the applicant is a student.  All co-signers must meet the following criteria:
Excellent credit history

Verifiable income of at least 5 times the rental amount.

Completed application including application fee

Come in for lease signing prior to move-in or provide signed notarized copy of the lease prior to move-in.

 

III.                  Occupancy Standards - 2 persons per bedroom

Sudio= One (1) Person                                One Bedroom=Two (2) Persons

Two Bedroom=Four (4) Persons           Three Bedroom= Six (6) Persons   

 

IV.                  Lease Terms

The length of the original lease term is one year.  Leases may be renewed for a term between 6 & 12 months, or on a month-to-month basis.  If you opt for the month-to-month option or your renewal is not signed by the 1st day of the month following the end of the current lease, the monthly rent amount will be the current market rate plus a month-to-month fee of $25.00.

 

V.                   Payment Policies

All rental payments are due on the first of every month.  If rent is not paid by the 5th day of the month, a five percent late fee or a $15.00 fee, which ever is higher, will be added to the balance.   If rent is not paid in full by the 15th, court papers will be filed.  It is the policy of Burgess Management Group to file eviction papers only one time.  If rent is not paid by the 15th and court papers have been previously filed, we will seek possession of the property.  Any late rental payments must be paid in full by cashier’s check or money order.


Management reserves the right to amend these policies at any time.